Re: [DynareDev] set_prior.m

On 06/11/2012 11:15 PM, Johannes Pfeifer wrote:

Could someone have a look at the lines for setting the priors for correlation in set_prior.m (occurring in at least two places):

ub = [ub; max(min(estim_params_.corrx(:,5),1),-1)];

lb = [lb; max(min(estim_params_.corrx(:,4),1),-1)];

In case estim_params_.corrx(:,4) is NaN, the lower bound defaults to +1 instead of -1.

Good catch!

My conjecture is it should be

lb = [lb; max(min(estim_params_.corrx(:,4),-1),-1)];

No, this would always be -1 What about lb = [lb; min(max(estim_params_.corrx(:,4),-1),1)]; ?

Best

Michel

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Johannes Pfeifer

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