jpmodel5.mod (12.6 KB) jpdat.mod (19.9 KB)

Kotera_Sakai(2018)PPR.pdf (2.9 MB)

Hi, all

First, Thank you for some discussion for running Dynare correctly. Actually, Dynare can run and outputting Posterior Distribution.

However, there is a problem on Theory concerned Tylor policy rule. This is Inflationary reaction to interest rate(phi_r_pi in mod file) must be <1.

I think it is strange in aspect of Taylor rule.

So that I calculated in steady_model by setting phy_r_pi =1, There can check there is not accepted Blanchard-Kahn condition.

Why this incident is appeared?

Anyone knows if you see my file, any comment has, please comment me why that appeared.

And One question to all seeing my question.

The mod file also has one problem. It is not equal between number of shocks and observed variables. So that I cannot run with both of dsge_var and bayesian_irf option.

How to solve that matter, how to correct this?

Thank you.

Kazumi