This question is kind of related to an earlier post by phuong.macro. I'm currently trying to find the mode(s) of my model and this has been achieved by running different optimizers. If you take look at the mode check plots, they seem to be alright, however I still get the warning:

- Code: Select all
`POSTERIOR KERNEL OPTIMIZATION PROBLEM!`

(minus) the hessian matrix at the "mode" is not positive definite!

=> posterior variance of the estimated parameters are not positive.

You should try to change the initial values of the parameters using

the estimated_params_init block, or use another optimization routine.

Warning: The results below are most likely wrong!

> In dynare_estimation_1 (line 316)

In dynare_estimation (line 105)

In rob30 (line 1073)

In dynare (line 223)

What would be a good advice in this case? Most probably I am wrong with the interpretation of the graphs.

Best

Robert