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[jpfeifer]

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Should we use posterior mean or posterior mode

Hi, the mean and the mode of the posterior distribution are just two measures of the central tendency of the distribution. If the posterior distribution of a parameter is normal, the mean, the mode and the median will be the same. However, typically the exact distribution of the posterior is not known. In this case you have to pick a measure. Usually with irregular posteriors I would go with the mode. To see the problem consider a binomially distributed posterior with p=0.6. In this case, 60% of…

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Variance decomposition/impulse responses at posterior mode or posterior mean is better?

I am not aware of any general result. It’s a matter of taste. Usually, I would prefer the posterior mode if it was the true mode, because it is one parameter draw, i.e. one model while the posterior mean is based on an average over several models.