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Orthogonal IRF

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Orthogonal IRF

Postby regentropf » Tue Jun 25, 2013 1:46 pm

Hi there,

I am quite new to Dynare and right now I'am solving a very simple DSGE model in different ways. To compare my solution I wanted to just take a quick look at the IRF of my different codes. Now, Dynare computes the orthogonalized IRF's. Is there a way to suppress this setting?

Thanks for the answer
regentropf
 
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Re: Orthogonal IRF

Postby jpfeifer » Tue Jun 25, 2013 7:57 pm

If you have correlated errors, what would be the alternative you are thinking of? There are infinitely many possible rotations of the covariance matrix.
------------
Johannes Pfeifer
University of Cologne
https://sites.google.com/site/pfeiferecon/
jpfeifer
 
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Re: Orthogonal IRF

Postby regentropf » Thu Jun 27, 2013 1:13 pm

Thanks to your answer. Of course you're abolutely right. My problem was that I just did get different IRFs after solving the model with Blanchard-Kahn, QZ-Method and with Dynare. However, rescaling worked out.
regentropf
 
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