I am mesmerized by this;
It seems that changing the order of the equations changes the likelihood value (Bayesian DSGE estimation)????
Why? What should be the correct order of equation.
Many thanks
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changing the order of the equation changes the likelihood va
by ilovegauss » Mon Apr 25, 2011 10:49 pm
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Re: changing the order of the equation changes the likelihoo
by SébastienVillemot » Mon May 23, 2011 2:59 pm
The equation order should not change the result.
Maybe the discrepancy comes from the fact that across each run, Dynare uses different random number series, which impact both the mode computation and the Metropolis. Note that we are currently changing this, so in the future the same result should be given across different runs.
Maybe the discrepancy comes from the fact that across each run, Dynare uses different random number series, which impact both the mode computation and the Metropolis. Note that we are currently changing this, so in the future the same result should be given across different runs.
Sébastien Villemot
Economist at OFCE – Sciences Po
Economist at OFCE – Sciences Po
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