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Error in identification
Posted:
Fri Feb 08, 2013 4:38 pmby fabiac
I'm trying to run identification. I get the following error:
Parameter error:
The model does not solve for prior_mean with error code info = 3
Identification stopped
Can anyone please tell me what this means?
Re: Error in identification
Posted:
Sat Feb 09, 2013 12:27 pmby jpfeifer
Please post or send me the mod-file.
Re: Error in identification
Posted:
Sun Feb 10, 2013 9:50 amby jpfeifer
Error 3 is: 'Blanchard Kahn conditions are not satisfied: no stable equilibrium'
Error 4 is: 'Blanchard Kahn conditions are not satisfied: indeterminacy'
As these messages refer to the prior mean, your prior mean does not or not uniquely solve the model.
Re: Error in identification
Posted:
Sun Feb 10, 2013 4:32 pmby fabiac
Thanks a lot. Since the routine crashes because of these errors, is there any way I can make it run without changing the priors?