The problem of steady-state value in bayesian estimation

Dear all,
My question is

  1. after bayesian estimation,Is the steady state value of the variable related to the observed variable?
  2. If I specify the initial value, then the steady state value changes when the initial value changes?
  3. After the estimated results are obtained,Is IRF calculated based on the steady-state value obtained after the estimate?
  4. I know that only one shock can be analyzed at a time,How did VARIANCE DECOMPOSITION (in percent) work out?
    Looking forward to your reply
  1. What exactly do you mean?
  2. If the steady state is unique, then initial values do not matter.
  3. If the steady state is a function of the parameters, then the IRFs after estimation will reflect the estimate.
  4. What do you mean with this statement?

Professor, thank you for your reply,
1.If I use Bayesian estimation,After the estimate,if the steady-state value related to the observed variable?
4.I don’t really understand what VARIANCE DECOMPOSITION means and I want to know how does he figure it out。
Thank you again !

  1. Again, what do you mean with “related”?