Dear all,
I am estimating a DSGE model. I am wondering whether the % deviation from steady state is measured in the y-axis of the plot for smoothed shocks.If not, what is measured in the y-axis?
Thanks in advance for your help.
Best,
Lara
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smoothed shocks - % dev. from steady state
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smoothed shocks - % dev. from steady state
by Lara » Wed Jul 15, 2015 9:16 am
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Re: smoothed shocks - % dev. from steady state
by jpfeifer » Wed Jul 15, 2015 9:44 am
The steady state of shocks is always 0. Thus, the picture shows the value of the most likely value for the respective shock in that period. See Pfeifer (2014): An Introduction to Graphs in Dynare at https://sites.google.com/site/pfeiferecon/dynare
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