Hi everyone and thanks a lot for your answer, dear professor.
I have tried to use mode_compute=6 and, distinctly, 9 and the results are significantly better than the previous time, in case of mode_compute=6.
I want to ask you how can I use the mode_compute 6 combined with mode_compute 9? I use Dynare 4.4.0 and I wrote the optimization commands recommended by you (mode_compute=6 and, respectively 9) in the estimation command. I would really appreciate if you would give some help by telling me how can I write the command to combine both of these optimization methods (if possibly).
In addition, I have some question regarding the results of the estimation obtained:
1.regarding the variance decomposition, based on the independent contribution of each particular shock, I have obtained a graph that doesnât seem correct in comparison with the one of the original model of Smets&Wouters (the graph that I hope will be attached Graph 1). In my case, the initial values of the observed variables are very significant in the explanation of the variance. Can you please have a look at it and tell me whether you find this situation is correct, that the variance of the initial value have such a big influence?
C:\Users\gionita\Desktop\GRAPHIC
2.regarding the convergence of Markov chain obtained, as resulted from Graph2-with the hope to be attached, there are some problems of convergence. Do you have any suggestion for solving them?
C:\Users\gionita\Desktop
3. the last question is about the graphs of the apriori and, respectively, aposteriori distributions of the parameters from the model. As results from Graph3-attached there is a big difference between the graph of the apriori distribution and that of the aposteriori distribution. This situation is not for all the parameters, I have attached you the ones with the higher differences. I am not sure that this is correctly, could this would mean that the observed variables bring additional information to the model?
C:\Users\gionita\Desktop
Thanks a lot for your support!