Hi,
I’ve got this error message
[quote]Error in computing likelihood for initial parameter values
??? Error using ==> print_info
This case shouldn’t happen. Contact the authors of Dynare
Error in ==> initial_estimation_checks at 87
print_info(info)
Error in ==> dynare_estimation at 302
initial_estimation_checks(xparam1,gend,data);
Error in ==> nawm_fin_linear at 1446
dynare_estimation(var_list_);
Error in ==> dynare at 102
evalin(‘base’,fname) ;[/quote]
Here I’m using Dynare 4.0.2 on Windows. The error is triggered by changing the prior for some parameters from
xi_W1 , 0.765 , BETA_PDF, 0.75 , 0.05;
to
xi_W1 , 0.765 , BETA_PDF, 0.5 , 0.1;
(and similarly for other parameters, i.e. same change of mean and variance but different initial value, though always btw 0 and 1).
When I changed to mean=0.6 and variance=0.1^2, the error was about initial values being outside ranges.
Any reason for this behaviour?
Thanks and regards
Gianni