Dynare forums

Posted: **Wed Jul 20, 2016 9:47 pm**

Hi,
I was wondering what exactly the following messages mean. I am actually using the calibrated values as initial values, so I do not see the problem. Also, this error message seems to be related with one of the var_obs series I use. I use 5 series, I get this message. If I use 4, no error message. How should I think of this? thanks!
K.

ESTIMATION_CHECKS: There was an error in computing the likelihood for initial parameter values.
ESTIMATION_CHECKS: You should try using the calibrated version of the model as starting values. To do
ESTIMATION_CHECKS: this, add an empty estimated_params_init-block with use_calibration option immediately before the estimation
ESTIMATION_CHECKS: command (and after the estimated_params-block so that it does not get overwritten):

Posted: **Thu Jul 21, 2016 6:34 am**

This message is a catch-all suggestion that does not always apply. You should get a proper error message that is more informative. For most of the problems people encounter, it is a matter of wrong starting values or not having a version of the model that even works for simulation. That seems to not be the case for you. What is the full message?

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