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IRFs with wrong behavior
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IRFs with wrong behavior
by marcio_fr » Fri Jul 22, 2016 6:22 pm
Hi, I'm trying to simulate a DSGE model with financial frictions, monetary and fiscal policies. When I run the script, dynare does not shows any warning or error message, but some of IRFs graphics make no sense. For example, a positive shock in the monetary policy rule, leads to a fall in the interest rate set by central bank. What could be the cause? Is it a calibration problem, or something worse?
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Re: IRFs with wrong behavior
by jpfeifer » Sun Jul 24, 2016 1:33 pm
I could by virtually anything. First, of course, you should check the parameterization. See http://www.dynare.org/phpBB3/viewtopic.php?f=1&t=4684
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