I am a new learner about Dynare. I have encountered a question now and am seeking for your help. I developed a DSGE model with multiple unanticipated and news shocks, and I use Bayesian estimation to estimate the value of some parameters and assign the value to some other parameters using calibration. My code can work in Dynare but it has been working for more than 15 hours! So I think there must be something wrong with my code. Can you help me with this problem? I really appreciate your help!
PS: I found that as long as I remove the news shocks, my code can work very well and got a result within a reasonable time. So I guess that it may be due to the news shocks. Since I have only six observables but much more parameters and shocks, do I need to use more observables in order to speed up my code working process ?
Regards,
- Code: Select all
estimation(datafile=model_data, mode_compute = 6, nograph, mh_nblocks = 4, mh_replic=20000, mh_drop=0.04,mh_jscale=0.28, conf_sig=0.95, bayesian_irf)y n pi_d_h pi_c r c c_b c_s psi d_b d_s b_b y_c y_d i_d;