Hi there,
I get the syntax error message for the line where the estimation command is, i.e. the last line of the program copied below.
Any suggestion welcome,
BenMoj
var dp y ffr dpstar;
varexo edp ey effr edpstar;
parameters alpha1 alpha2 beta1 beta2 rho gamma1 gamma2 ys;
alpha1 = 0.3;
alpha2 = 0.1;
beta1 = 0.5;
beta2 = 0.1;
alpha1 = 0.5;
rho = 0.8;
gamma1 = 1.50;
gamma2 = 0.5;
ys=3.0;
model(linear);
dp = alpha1dp(1) + (1-alpha1)dp(-1)+alpha2y+edp;
y = beta1y(1)+(1-beta1)y(-1)-beta2(ffr-dp(1))+ey;
ffr = rhoffr(-1) +(1-rho)(gamma1*(dp-dpstar) + gamma2*(y-ys)+dpstar)+effr;
dpstar = dpstar(-1)+edpstar;
end;
initval;
dpstar=2.0;
dp=2.0;
y=3.0;
ffr=5.0;
end;
steady;
shocks;
var edp; stderr 1.0;
var ey; stderr 0.5;
var effr; stderr 0.5;
var edpstar; stderr 0.1;
end;
estimated_params;
alpha1, uniform_pdf, , , 0,1.0;
alpha2, beta_pdf, 0.1,0.05,0.0,0.5;
beta1, uniform_pdf, , , 0,1.0;
beta2, beta_pdf, 0.1,0.05,0.0,0.5;
rho, uniform_pdf, , , 0.6,0.95;
gamma1, uniform_pdf, , , 1.0,2.0;
gamma2, beta_pdf, 0.5,0.25,0.0,1.0;
stderr edp, inv_gamma_pdf, 1.0, 4.0;
stderr ey, inv_gamma_pdf, 1.0, 4.0;
stderr effr, inv_gamma_pdf, 1.0, 4.0;
stderr edpstar, inv_gamma_pdf, 0.2, 4.0;
end;
varobs y dp ffr;
estimation(nobs=187,filename=us4.m,mh_replic=2000);
Glob_Inf_esti_us_1.mod (1.4 KB)