What if there is no "estimated_params_init" block

Dynare help (legacy posts)
1

Dear all,

What if there is no “estimated_params_init” block in the estimation part of the code? Does it mean that the initial values will be the prior mean or the calibrate values?

Thanks!

2

From the manual:

[quote]INITIAL_VALUE
Specifies a starting value for the posterior mode optimizer or the maximum likelihood
estimation. If unset, defaults to the prior mean.[/quote]