Hello, everyone. I am a beginner learning dynare for DSGE. When I generate the irf by bayesian estimation, I find the gray shade area is too narrow. My shocks are all inverse gamma distribution with mean of 0.5 and inf std.ev. Why the gray shade area is so narrow. How can I enlarge the gray shade area?
Yes, the accepting ratio is too low. I try 250000 draws this time and the accepting ratio is around 11%.
. Can I set a threshold for the accepting ratio? Thanks
Thank you, Prof. Pfeifer.
Here is my mod file. I have tried 250000 draws and 0.05 mh_jscale. Then the gray shade area of the irf of other shocks is enlarged, but the gray shade area of the monetary policy shock is still narrow. Is that due to my taylor feed back rule? LIANG_Junjie_Problematic_file20220501.mod (10.4 KB)