Hi, I have a two good model that I am able to run successfully. However, my adviser suggests I should rewrite the model in log forms, so that I can compare my impulse response functions when I run the model with different values of alpha. Can someone please advise how to do this? I have attached the mod file.
Thanks!
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model in log form
by VoGols » Thu Jan 15, 2015 6:44 pm
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Model_baseline65.mod- (4.09 KiB) Downloaded 36 times
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Re: model in log form
by jpfeifer » Fri Jan 16, 2015 7:35 pm
Use a log transformation by putting all variables with nonzero and nonnegative steady state in exp(). See also Pfeifer(2013): "A Guide to Specifying Observation Equations for the Estimation of DSGE Models" https://sites.google.com/site/pfeiferecon/Pfeifer_2013_Observation_Equations.pdf
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