Dynare forums

Hi there,

I get the syntax error message for the line where the estimation command is, i.e. the last line of the program copied below.

Any suggestion welcome,

BenMoj

var dp y ffr dpstar;
varexo edp ey effr edpstar;

parameters alpha1 alpha2 beta1 beta2 rho gamma1 gamma2 ys;

alpha1 = 0.3;
alpha2 = 0.1;
beta1 = 0.5;
beta2 = 0.1;
alpha1 = 0.5;
rho = 0.8;
gamma1 = 1.50;
gamma2 = 0.5;
ys=3.0;

model(linear);
dp = alpha1*dp(1) + (1-alpha1)*dp(-1)+alpha2*y+edp;
y = beta1*y(1)+(1-beta1)*y(-1)-beta2*(ffr-dp(1))+ey;
ffr = rho*ffr(-1) +(1-rho)*(gamma1*(dp-dpstar) + gamma2*(y-ys)+dpstar)+effr;
dpstar = dpstar(-1)+edpstar;
end;

initval;
dpstar=2.0;
dp=2.0;
y=3.0;
ffr=5.0;
end;

steady;

shocks;
var edp; stderr 1.0;
var ey; stderr 0.5;
var effr; stderr 0.5;
var edpstar; stderr 0.1;
end;

estimated_params;
alpha1, uniform_pdf, , , 0,1.0;
alpha2, beta_pdf, 0.1,0.05,0.0,0.5;
beta1, uniform_pdf, , , 0,1.0;
beta2, beta_pdf, 0.1,0.05,0.0,0.5;
rho, uniform_pdf, , , 0.6,0.95;
gamma1, uniform_pdf, , , 1.0,2.0;
gamma2, beta_pdf, 0.5,0.25,0.0,1.0;

stderr edp, inv_gamma_pdf, 1.0, 4.0;
stderr ey, inv_gamma_pdf, 1.0, 4.0;
stderr effr, inv_gamma_pdf, 1.0, 4.0;
stderr edpstar, inv_gamma_pdf, 0.2, 4.0;
end;

varobs y dp ffr;

estimation(nobs=187,filename=us4.m,mh_replic=2000);

filename=us4.m isn't correct Dynare syntax. Look at the manual

M.