Hello, can someone please tell me how to specify an inverse gamma prior?
Suppose I know that the technology shock has a standard deviation around 0.007 for a quarterly model.
What parameters should I input in the "stderr ea, inv_gamma_pdf" command if I want to attach more probability mass to my guess about the standard deviation?
What is the difference between inv_gamma1_pdf and inv_gamma2_pdf?
Can you point me to some reference where I can read more on this?
I would be very grateful!
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Inverse gamma 1 & 2
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Inverse gamma 1 & 2
by nakov » Wed Jun 06, 2007 4:01 pm
- nakov
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Re: Inverse gamma 1 & 2
by StephaneAdjemian » Fri Jun 08, 2007 1:17 pm
Hi,
Here is an unfinished note about priors in Dynare.
Hope it helps,
Best,
Stéphane.
Here is an unfinished note about priors in Dynare.
Hope it helps,
Best,
Stéphane.
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DynareDistributions.pdf- A short description of prior densities in Dynare.
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- StephaneAdjemian
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- Location: Paris, France.
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