HI,
I have estimated a DSGE model, and I want to use simult_ function, the first value of SmoothedVariables and SmoothedShocks to replicate the data. However, the replicated series are totally different from the SmoothedVariables. In my excercise, simult_ start at the first smoothed value. But even if I set shocks to be all zero, the simulated series still have a lot of movements. What does that mean? The estimated model does not work well? or I missed sth else?
Thanks,
zj1009
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use simult_ to replicate data
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use simult_ to replicate data
by zj1009 » Sun Jul 27, 2014 1:40 am
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Re: use simult_ to replicate data
by jpfeifer » Mon Jul 28, 2014 7:54 am
Most probably, the issue is about the way the Smoothed Variables are provided and the way simult_ requires its input. In particular, the Smoothed Variables are in deviations from steady state, but simult_ requires the variables including the steady state.
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Re: use simult_ to replicate data
by zj1009 » Mon Aug 04, 2014 12:26 am
Thanks for you reply, jpfeifer! I got the solution. It's all about the order of the variables~ The order in oo._SmoothedVariables is not the same as that in M_. After I changed the order, everything works perfect!
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