After estimating DSGE with Bayesian techniques, I conduct the Impulse Response Function with Bayesian estimation. The code is specified inside the block of estimation as following
Blockquote estimation(…, irf =20,
bayesian_irf)data_pid data_wp data_c data_i x_hat
data_R E_t data_y data_x data_m data_pic
data_ystar data_pistar data_Rstar;
The result displays as the attached file below
My question is that
Why the Bayesian probability interval in the pannel such as data_pid, dat_wp, or dat_R
is very strang, why the mean value does not locate between upper and lower Bayesian probability interval? What happens to that
Thank you so much indeed
BayIRFs.pdf (10.8 KB)