hi everbody,
does anyone have an idea how to change Dynare to be able to solve models where the Blanchard-Kahn conditions are not satisfied?? the code always terminates in case of indeterminacy.
I'm grateful for all answers
saludos, chris
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indeterminacy
by chrisbcn » Fri Sep 12, 2008 10:33 am
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by bigbigben » Fri Sep 12, 2008 2:49 pm
I am not very sure about what kinda of result you expect from the model with indeterminacy. It simply means everything is possible, so the IRFs are won't converge. The literature on indeterminancy usually focus on when indeterminacy gonna happen. With Dynare, you surely can do the job by collecting the parameter values that falls in the indeterminant region.
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