Problem runing RBC_Est.mod

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Problem runing RBC_Est.mod

Postby Puigvert » Wed Jan 13, 2010 2:26 am

Hello,

I am trying to introduce myself to Dynare and I am suing the User's guide for the Version 4.1 (the version I currently have); however, whiole running the RBC_Est.mod I have been having some troubles. I am using the simuldataRBC.m file which is obtained while runing the RBC_datagen.mod file. I am pasting the output and the errors I get while runing the RBC_Est.mod file below and the code I am using while runing it.

Configuring Dynare ...
[mex] Generalized QZ.
[mex] Sylvester equation solution.
[mex] Kronecker products.
[mex] Sparse kronecker products.
[mex] Bytecode evaluation.
[mex] k-order perturbation solver.
[mex] k-order solution simulation.

Starting Dynare (version 4.1.0).
Starting preprocessing of the model file ...
Found 9 equation(s).
Evaluating expressions...done
Computing static model derivatives:
- order 1
Computing dynamic model derivatives:
- order 1
- order 2
Processing outputs ...done
Preprocessing completed.
Starting MATLAB/Octave computing.


You did not declare endogenous variables after the estimation command.
??? Attempted to access k(1); index out of bounds because numel(k)=0.

Error in ==> draw_prior_density at 93
binf = abscissa(k(1));

Error in ==> plot_priors at 52
[x,f,abscissa,dens,binf,bsup] = draw_prior_density(i,bayestopt_);

Error in ==> dynare_estimation_1 at 87
plot_priors(bayestopt_,M_,options_)

Error in ==> dynare_estimation at 62
dynare_estimation_1(var_list,varargin{:});

Error in ==> puigvertrbcestimation at 133
dynare_estimation(var_list_);

Error in ==> dynare at 132
evalin('base',fname) ;

-----------------------------------------------------------------------------

The cose I am using is the following:

var y c k i l y_l w r z;
varexo e;
parameters beta psi delta alpha rho epsilon;
model;
(1/c)=beta*(1/c(+1))*(1+r(+1)-delta);
psi*c/(1-l)=w;
c+i=y;
y=(k(-1)^alpha)*(exp(z)*l)^(1-alpha);
w=y*((epsilon-1)/epsilon)*(1-alpha)/l;
r=y*((epsilon-1)/epsilon)*alpha/k(-1);
i=k-(1-delta)*k(-1);
y_l=y/l;
z=rho*z(-1)+e;
end;
varobs y;
initval;
k=9;
c=0.7;
l=0.3;
w=2.0;
r=0;
z=0;
e=0;
end;

estimated_params;
alpha, beta_pdf, 0.35, 0.02;
beta, beta_pdf, 0.9, 0.002;
delta, beta_pdf, 0.025, 0.003;
psi, gamma_pdf, 0.95, 0.05;
rho, beta_pdf, 0.95,0.05;
epsilon, gamma_pdf, 10, 0.003;
stderr e, inv_gamma_pdf, 0.01, inf;
end;
estimation (datafile=simuldataRBC,nobs=200, first_obs=500, mh_replic=2000, mh_drop=0.45, mh_jscale=0.8);

--------------------------------------------------------------------------

Thanks a lot for your help,
Jonathan
Puigvert
 
Posts: 1
Joined: Wed Jan 13, 2010 2:17 am

Re: Problem runing RBC_Est.mod

Postby DSGEquestion » Wed Jan 13, 2010 6:25 pm

I am not exactly sure what is the problem, but when I specify the estimated parameters, I always specify initial guess, lower bound, upper bound, pdf, mean, var.
For example

stderr em,0.24,0.01,20,INV_GAMMA_PDF,0.1,2.0;
stderr epinf,0.15,0.01,20,INV_GAMMA_PDF,0.1,2.0;
stderr ew,0.4,0.01,20,INV_GAMMA_PDF,0.1,2.0;

//stderr eretk, 1.2,UNIFORM_PDF, ,, 0, 4.5;
//stderr edy, 0.1,UNIFORM_PDF, ,, 0, 0.225;
//stderr edc, 0.05,UNIFORM_PDF, ,, 0, 0.125;
//stderr edinve, 0.8,UNIFORM_PDF, ,, 0, 0.875;
//stderr edw, 0.04,UNIFORM_PDF, ,, 0, 0.125;
//stderr elab, 0.5,UNIFORM_PDF, ,, 0, 1.0;
//stderr epinf, 0.1,UNIFORM_PDF, ,, 0, 0.15;
//stderr erobs, 0.03,UNIFORM_PDF, ,, 0, 0.21;


Also for your inverse gamma, why the second argument of prior is infinite?
DSGEquestion
 
Posts: 6
Joined: Tue Jan 12, 2010 7:52 pm


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