Dear all,

dynare_estimation_init.m in 4.2.5 currently reads

if options_.prefilter == 1

if options_.missing_data

bayestopt_.mean_varobs = zeros(n_varobs,1);

for variable=1:n_varobs

rdx = find(~isnan(rawdata(:,variable)));

m = mean(rawdata(rdx,variable));

rawdata(rdx,variable) = rawdata(rdx,variable)-m;

bayestopt_.mean_varobs(variable) = m;

end

else

bayestopt_.mean_varobs = mean(rawdata,1)';

rawdata = rawdata-repmat(bayestopt_.mean_varobs',gend,1);

end

end

% Transpose the dataset array.

data = transpose(rawdata);

Hence, rawdata is overwritten with the demeaned data. This leads to wrong smoother plots. The corresponding part should be:

if options_.prefilter == 1

if options_.missing_data

data=rawdata;

bayestopt_.mean_varobs = zeros(n_varobs,1);

for variable=1:n_varobs

rdx = find(~isnan(rawdata(:,variable)));

m = mean(rawdata(rdx,variable));

data(rdx,variable) = rawdata(rdx,variable)-m;

bayestopt_.mean_varobs(variable) = m;

end

else

bayestopt_.mean_varobs = mean(rawdata,1)';

data = rawdata-repmat(bayestopt_.mean_varobs',gend,1);

end

end

% Transpose the dataset array.

data = transpose(data);

I tried to push a fix for cherrypicking to 4.2 but I am not sure I succeeded.

Best,

Johannes

--------

Johannes Pfeifer

Haußerstr. 29

72076 Tübingen

Tel.: +49-(0)7071-6396184

Mobil: +49-(0)170-6936820

jpfeifer@gmx.de