The default value of prior_trunc


I just noticed that the default value of prior_trunc is set to 1e-10, which is different from 1e-32 stated in the manual. For the beta distribution, the lower bound with prior_trunc=1e-10 can be a bit higher than I expected. I can always set prior_trunc = 0 but is there any other model features that might affect the default value of prior_trunc? The following is my test code. The data is a simulated one. I am using Dynare 5.1 on MacOS 12.4. Thanks!
testdata.mat (1000 Bytes)

parameters rho;

var a Da;

varexo ea;


a = rho*a(-1) + ea;
Da = a;



rho,   0.01,,, beta_pdf,    0.5,    0.1;
stderr ea,   0.05, ,,    inv_gamma_pdf, 0.1,    0.1;


varobs Da;


Hi, I searched around the manual and found that the default value of prior_trunc = 1e-32 in Section 4.15 and 1e-10 in Section 4.16 (which refers to the description of prior_trunc in Section 4.15). I guess I can always set prior_trunc=0 explicitly. Thanks!

The two different values relate to different commands: estimation and method_of_moments.