Bayesian estimation error on linearized model

[magonfru]

Hello Guys, I am trying to replicate a paper. Is a bayesian estimation of a linearized DSGE model. I receive the following error message. "Error in computing likelihood for initial parameter values." I am not sure why is giving this error, I have the same model calibrated with the priors that I am using for the Bayesian estimation and it works. Is there anything wrong on trying to make a bayesian model that is already linearized? PS: sorry I don't know how to upload my data file. I uploaded a xls file

Error in computing likelihood for initial parameter values
Error using print_info (line 40)
Blanchard Kahn conditions are not satisfied: no stable equilibrium

Error in initial_estimation_checks (line 69)
print_info(info, DynareOptions.noprint)

Error in dynare_estimation_1 (line 169)
oo_ =
initial_estimation_checks(objective_function,xparam1,dataset_,M_,estim_params_,options_,bayestopt_,oo_);

Error in dynare_estimation (line 70)
dynare_estimation_1(var_list,dname);

Error in dsge_bubbles_b (line 373)
dynare_estimation(var_list_);

Error in dynare (line 120)
evalin('base',fname) ;

[jpfeifer]

You must provide the caibrated values as explicit starting values. Otherwise, Dynare uses the prior mean.

[magonfru]

Thanks Jpfeifer, from the beginning I provided the calibrated values as explicit starting values, but it does not work.

[jpfeifer]

No you don't. You initialize the parameters, but you don't provide those initial values as starting values in either the estimated_params-block nor do you provide an estimated_params_init-block after the estimated_params-block.

[magonfru]

Ok I see, I included this model block after the estimated_params block, but still is not working. Also is my understanding that if do not include these block or initial values at the estimated_params block it will use the prior means as initial values, please let me know if I am wrong. I am new in dynare
Thanks

estimated_params_init ;
c_h, 0.333;
c_Omega, 2;
c_delta_delta, 1;
c_xi_bar, 0.2;
c_mu, 2;
rho_a, 0.5;
rho_am, 0.5;
rho_z, 0.5;
rho_zm, 0.5;
rho_theta, 0.5;
rho_psi, 0.5;
rho_xi, 0.5;
stderr e_a, 0.01;
stderr e_am, 0.01;
stderr e_z, 0.01;
stderr e_zm, 0.01;
stderr e_psi, 0.01;
stderr e_xi, 0.01;
stderr e_theta, 0.01;
end;

[donihue]

The data you posted is identical for all variables.
Regards
Donihue