Dear all,
I have a question regarding marginal data densities of DSGE model. When using Dynare_v3, sometimes I end up with positive log(P(Y|model_i)) and sometimes negtive log(p(Y|model)). I am wondering if the positive log marginal data densities is always the one we prefer and is it possible to compare a positive log(p(Y|model)) to the negtive log(p(Y|model)? Thanks!
Keqiang
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Regarding Marginal data densities
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Regarding Marginal data densities
by KeqiangHou » Mon Nov 19, 2007 8:21 pm
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by reubenpjacob » Tue Nov 20, 2007 6:54 am
hi i think we should understand marginal densities in a relative sense. the number itself does not mean much, unlike the R^2 in OLS.
you can use it to compare 2 competing models that use the same data series.
you can use it to compare 2 competing models that use the same data series.
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