Dear all,

I encountered a problem in Dynare yesterday and I would appreciate it very much if any one of you could give me some hints.

I started from a certain parameter vector and use mode_compute=6 to find the mode and then run MCMC. The mode finally found indicates that the minus log posterior density equal to 831.3037. This is in the log file (experiment_modefile.log). The mode file (mymode.mat) has been attached as well. Then I did an experiment. On one hand, I copy the parameter values in the mode_file and paste in the parameter block of the mod file (experiment_modefile.mod). Then I allow the estimated_params_init(use_calibration) block. Then I use the estimation command without mode_file option to do the estimation again. In principle, the initial minus log posterior density should also equal to 831.3037. It turns out to be the case. On the other hand, I shut down the calibration part in the parameter block and also shut down the estimated_params_init(use_calibration) block. This time, I use mode_file option in the estimation command. Surprisingly, the initial minus log posterior density equals to 849.8676, which is significantly different from 831.3037. I am not sure what the problem is. Did I make any mistake in using the mode_file option?

For your reference, I have zipped all the files necessary to run the code.

Thanks a lot!

Best,

Bing