Dear all,
I am using the OSR command to solve for the optimal simple rule. In doing so, I would like to restrict the coefficients to lie in a specified interval. Otherwise I end up having 4-digit coefficients in the Taylor rule.
Is there any way to accomplish that?
Many thanks
Dom
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Optimal Simple Rule (OSR) - Restricting Coefficients
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Optimal Simple Rule (OSR) - Restricting Coefficients
by Dom » Thu Aug 04, 2011 9:00 am
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Re: Optimal Simple Rule (OSR) - Restricting Coefficients
by SébastienVillemot » Mon Sep 05, 2011 1:23 pm
There is no straightforward way of doing this with Dynare. The implementation of osr uses an unconstrained optimization. You need to hack the code and replace the unconstrained minimization by a constrained one.
Best,
Best,
Sébastien Villemot
Economist at OFCE – Sciences Po
Economist at OFCE – Sciences Po
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