Released on 27/04/2010:
• | DSGE-VARs are supported through a new menu item. In the new version you can estimate the DSGE model parameters via the DSGE-VAR likelihood function, compute the marginal likelihood of the DSGE-VAR and compares them across DSGE-VARs and the DSGE, estimate the VAR parameters, compute impulse responses, compare parameters across DSGE-VARs and the DSGE, plot prior and posterior distributions, estimate the structural shocks. |
• | csminwel output has been improved through iteration messages. |
• | View structural form of the DSGE model from the View menu. |
• | Fixed a bug that would materialize unless all the iid shocks in the AiM model file were defined under ENDOG> in the same order as their equations, and that the shocks appeared after all other variables (excluding ONE). |
• | Check posterior mode now also plots the log posterior against the log likelihood, where the latter has been scaled by adding the value of the log prior at the mode. These new plots make it possible to at least locally determine how far away the posterior mode is from the maximum likelihood in terms of the parameter estimates, and thus the local importance of the prior. |
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