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Unstable IRFs in Dynare

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Unstable IRFs in Dynare

Postby AS90 » Thu Jan 12, 2017 9:45 pm

Is there a way for Dynare to deliver and plot unstable impulse response functions? - The main premise is that the shock trigger indeed an ongoing divergence from the steady state. If so, which code file and which part thereof is to be altered? Thanks.
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Re: Unstable IRFs in Dynare

Postby jpfeifer » Tue Jan 17, 2017 10:54 am

Dynare at the current stage only works with Blanchard-Kahn stable models, i.e. models that have a unique bounded equilibrium. Therefore, unstable IRFs are not allowed/possible.
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Johannes Pfeifer
University of Cologne
https://sites.google.com/site/pfeiferecon/
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Re: Unstable IRFs in Dynare

Postby AS90 » Tue Jan 17, 2017 4:28 pm

Thank you for your answer. Acknowledged.
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