I run a uncertainty shocks model in dynare 5.2,the results is right.

When I set order=4 in dynare++, the values of `dyn_irfm_eps_tau_mean`

are all `0`

. the values of `dyn_irfm_eps_tau_var`

are all `Inf`

.

I run `Born_Pfeifer_2014`

in Dynare++ at order=4, the `irf values`

are right.

So what’s wrong with my code?

Without the codes it is impossible to tell. My hunch is explosiveness without pruning.

Thanks for your reply, Prof Pfeifer.

I think your hunch is right.

The explosiveness may be come from the standard deviation of uncertainty shock `sigma_sigma_tau`

,since when I set `sigma_sigma_tau=0.48`

, the `dyn_irfm_eps_tau`

shows values.

For the explosiveness, there is no pruning command in the option of Dynare++ .

So,under the original values, how can I aviod explosiveness?

And I would like to caculate the welfare of uncertainty shocks, Prof Pfeifer.

When I run the mod file in dynare++ at order=4,

Does the welfare obtained through this command `dyn_mean(dyn_totutility)`

make sense?

Is there a reason you are using Dynare++ instead of Dynare 5.5?

I send the mod file to you by PM. I would like to calculate the welfare, but the value is infinity, so I would like to use Dynare++ instead of Dynare 5.5.

Dynare++ should yield exactly the same results as Dynare. Both do not yet support pruning at order>3.