Hello everyone!

I am trying to estimate a NK DSGE model with Bayesian methods but having trouble with it. I checked all threads on this topic and made several adjustments to the model,estimation settings, the data etc. but the problem persists. The priors are taken from the literature. There must be something related with the nonstationarity of the variables in the model as the optimization already shows some warnings on it. Simulating the model with calibrated parameter values is working fine though.

I attached the mod file and the data, so if anyone with some more experience could have a look I would appreciate it a lot!

Thanks in advance!

NK.mod (21.4 KB) Onesidedhp.xlsx (24.7 KB)