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Release of Dynare 4.5.7
by Stéphane Adjemian 08 Feb '19

08 Feb '19

Dear Dynare users and friends, We are pleased to announce the release of Dynare 4.5.7. This is a bugfix release. The Windows and MacOS packages are already available for download at: https://www.dynare.org/download/ The GNU/Linux packages (for Debian and Ubuntu LTS) should follow soon. This release is compatible with MATLAB versions 7.5 (R2007b) to 9.4 (R2018b) and with GNU Octave version 4.4.1 Here is a list of the problems identified in version 4.5.6 and that have been fixed in version 4.5.7: - The mex-file conducting the QZ decomposition erroneously applied the `qz_criterium` to the square absolute value of eigenvalues instead of the absolute value itself (as done in mjdgges.m and the AIM solver). - In pathological cases, `mode_compute=5` (`newrat`) might enter an infinite loop. - `discretionary_policy` might erroneously state that the derivatives of the objective function are non-zero if there are NaN present. - Dynare++, when conducting the QZ decomposition, erroneously applied the `qz_criterium` to the square absolute value of eigenvalues instead of the absolute value itself. - Dynare++: IRFs were incorrectly computed. - `dynare_sensitivity` did not display the figures of `irf_calibration`, it only stored them on the disk. - Scatter plots generated by `dynare_sensitivity` did not correctly display LaTeX names. - Parameter updating via steady state files did not correctly work in case of using [static]/[dynamic] equation tags. - Memory leaks in `k_order_pert` (used by higher order stochastic simulations) could lead to crashes. - Predetermined variables were not properly set when used in model local variables. - Posterior moment computation did not correctly update the covariance matrix of exogenous shocks during posterior sampling. - Dynare was crashing with a cryptic message if a non estimated parameter was initialized in the `estimated_params_init` block. - The `forecast` command crashed if the model was declared as linear and contained deterministic exogenous variables. - Block decomposition is broken when used in conjunction with `varexo_det`. - The model was not correctly specified when `identification` was run without another stochastic command in the `.mod` file (e.g. `estimation`, `stoch_simul`, etc.). - Realtime annualized shock decompositions added the wrong steady state value. - `mh_recover` option crashed when using slice sampler. - x-axis values in plots of moment restrictions were wrong for autocovariances. On behalf of the Dynare Team, Stéphane.

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Dynare Summer School 2019
by Stéphane Adjemian 24 Jan '19

24 Jan '19

Dear Friends, This year the Dynare Summer School will be hosted, from June 3 to June 7, 2019, by École Normale Supérieur (Campus Jourdan). The courses will focus on simulation and estimation of DSGE models with Dynare. The invited speaker will be Thomas Winberry from the University of Chicago Booth School of Business. More informations is available on our website: https://www.dynare.org/events/dynare-summer-school-2019-applications-open Applications should be sent to school(a)dynare.org (with a CV and a recent research paper attached as PDFs) no later than April 7th, 2019. Best, Stéphane.

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Release of Dynare 4.5.6
by Stéphane Adjemian 26 Jul '18

26 Jul '18

Dear Dynare users and friends, We are pleased to announce the release of Dynare 4.5.6. This is a bugfix release. The Windows packages are already available for download at: http://www.dynare.org/download/dynare-stable The Mac and GNU/Linux packages (for Debian and Ubuntu LTS) should follow soon. This release is compatible with MATLAB versions 7.5 (R2007b) to 9.3 (R2018a) and with GNU Octave versions 4.4. Here is a list of the problems identified in version 4.5.5 and that have been fixed in version 4.5.6: - TaRB sampler: incorrect last posterior was returned if the last draw was rejected. - Fixed online particle filter by drawing initial conditions in the prior distribution. - Fixed evaluation of the likelihood in non linear / particle filters. - Added missing documented `montecarlo` option in Gaussian Filter and Nonlinear Kalman Filter. - Added back a flag to deal with errors on Cholesky decomposition in the Conditional Particle Filter. - Macroprocessor `length()` operator was returning 1 when applied to a string. Macroprocessor now raises an error when `length()` operator is called on an integer and return the number of characters when applied to a string. - `mode_compute=8`: the error code during mode-finding was not correctly handled, resulting in crashes. - Identification was not correctly displaying a message for collinear parameters if there was no unidentified parameter present. On behalf of the Dynare Team, Stéphane.

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Release of Dynare 4.5.5
by Stéphane Adjemian 08 Jun '18

08 Jun '18

Dear Dynare users and friends, We are pleased to announce the release of Dynare 4.5.5. This is a bugfix release. The Windows packages are already available for download at: http://www.dynare.org/download/dynare-stable The Mac package will follow soon. This release is compatible with MATLAB versions 7.5 (R2007b) to 9.3 (R2018a) and with GNU Octave versions 4.2. Here is a list of the problems identified in version 4.5.4 and that have been fixed in version 4.5.5: - Identification was crashing during prior sampling if `ar` was initially too low. - The `align` method on `dseries` did not return a functional second `dseries` output. - Predetermined variables were not properly set when used in model local variables. - `perfect_foresight_solver` with option `stack_solve_algo=7` was not working correctly when an exogenous variable has a lag greater than 1. - `identification` with `prior_mc` option would crash if the number of moments with non-zero derivative is smaller than the number of parameters. - Calling several times `normcdf` or `normpdf` with the same arguments in a model with block decomposition (but not bytecode) was leading to incorrect results. On behalf of the Dynare Team, Stéphane.

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Dynare Summer School 2018
by Stéphane Adjemian 05 Mar '18

05 Mar '18

Dear Friends, This year the Dynare Summer School will be hosted, from June 11 to June 15 2018, by Banque de France. The courses will focus on simulation and estimation of DSGE models with Dynare. The school will also be the occasion to introduce the next official major release of Dynare (4.6). More informations are (will be) available on our website: http://www.dynare.org/events/dynare-summer-school-2018 Applications should be sent to school at dynare.org (with a CV and a recent research paper attached as PDFs) no later than April 29th, 2018. Best regards, Stéphane. -- Stéphane Adjemian Dynare Team

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14th Dynare Conference
by Michel Juillard 26 Feb '18

26 Feb '18

Dear Friends, The 14th Dynare Conference (http://www.dynare.org) will be held in Frankfurt, Germany, at the European Central Bank, on July 5-6, 2018. The conference is organized by the European Central Bank together with Banque de France, the Dynare Project at CEPREMAP and DSGE-net. The DYNARE conference will feature the work of leading scholars in dynamic macroeconomic modeling and provide an excellent opportunity to present your own research results. Stephanie Schmitt-Grohé (Columbia University) and Peter Karadi (ECB) will be plenary speakers. Submissions of papers dealing with different aspects of DSGE modeling and computational methods are all welcome. Papers using other software tools than DYNARE or theoretical contributions are also encouraged. Paper submission procedure: please submit a complete manuscript or a detailed abstract in PDF format at http://dynare.mjui.fr. If you don't have already an account on the server, you will need to create one. Deadline for submission is March 30, 2018. Authors of accepted papers will be informed by April 20, 2018. Accepted papers will be considered for publication in the Dynare Working Papers series (http://www.dynare.org/wp) conditional on the agreement of the submitter. Note that publication in the Dynare WP doesn't prohibit submission to another working paper series. Contact: conference(a)dynare.org<mailto:conference@dynare.org> Conference Organizers: Ivan Jaccard (ECB), Anton Nakov (ECB), Sebastien Schmidt (ECB), Michel Juillard (Banque de France). -- Michel Juillard

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Release of Dynare 4.5.4
by Stéphane Adjemian 03 Feb '18

03 Feb '18

Dear Dynare users and friends, We are pleased to announce the release of Dynare 4.5.4. This is a bugfix release. The Windows packages are already available for download at: http://www.dynare.org/download/dynare-stable The Mac and GNU/Linux packages (for Debian and Ubuntu LTS) should follow soon. This release is compatible with MATLAB versions 7.5 (R2007b) to 9.3 (R2017b) and with GNU Octave versions 4.2. Here is a list of the problems identified in version 4.5.3 and that have been fixed in version 4.5.4: - The `type` option of `plot_shock_decomposition` was always set to `qoq` regardless of what is specified. - Bug in GSA when no parameter was detected below pvalue threshold. - Various bug fixes in shock decompositions. - Bug in reading in macro arrays passed on `dynare` command line via the `-D` option. - Estimation with missing values was crashing if the `prefilter` option was used. - Added a workaround for a difference in behaviour between Octave and Matlab regarding the creation of function handles for functions that do not exist in the path. With Octave 4.2.1, steady state files did not work if no auxiliary variables were created. - The `stoch_simul` command was crashing with a cryptic message if option `order=3` was used without setting `k_order_solver`. - In cases where the prior bounds are infinite and the mode is estimated at exactly 0, no `mode_check` graphs were displayed. - Parallel execution of MCMC was broken in models without auxiliary variables. - Reading data with column names from Excel might crash. - The multivariate Kalman smoother was crashing in case of missing data in the observations and `Finf` became singular. - The `plot_shock_decomposition` command ignored various user-defined options like `fig_name`, `use_shock_groups` or `interactive` and instead used the default options. - Nested `@#ifdef` and `@#ifndef` statements don't work in the macroprocessor. On behalf of the Dynare Team, Stéphane.

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Release of Dynare 4.5.3
by Stéphane Adjemian 19 Oct '17

19 Oct '17

Dear Dynare users and friends, We are pleased to announce the release of Dynare 4.5.3. This is a bugfix release. It comes less than 24 hours after the previous release, because version 4.5.2 was affected by a critical bug for MATLAB older than R2016b. The Windows packages are already available for download at: http://www.dynare.org/download/dynare-stable The Mac and GNU/Linux packages (for Debian and Ubuntu LTS) should follow soon. This release is compatible with MATLAB versions 7.3 (R2006b) to 9.3 (R2017b) and with GNU Octave versions 4.2. Here is a list of the problems identified in version 4.5.2 and that have been fixed in version 4.5.3: - `isfile` routine was failing with MATLAB older than R2016b. This bug did not affect Octave. On behalf of the Dynare Team, Stéphane.

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Release of Dynare 4.5.2
by Stéphane Adjemian 19 Oct '17

19 Oct '17

Dear Dynare users and friends, We are pleased to announce the release of Dynare 4.5.2. This is a bug fix release. The Windows packages are already available for download at: http://www.dynare.org/download/dynare-stable The Mac and GNU/Linux packages (for Debian and Ubuntu LTS) should follow soon. This release is compatible with MATLAB versions 7.3 (R2006b) to 9.3 (R2017b) and with GNU Octave versions 4.2. Here is a list of the problems identified in version 4.5.1 and that have been fixed in version 4.5.2: - Fixed bug in perfect foresight solver: + If expected shocks were declared after the terminal period, as specified by the `periods` option, Dynare was crashing. + Models declared with the `linear` option were crashing if exogenous variables were present with a lead or lag. - After ML or Bayesian estimation when the smoother option or `mh_replic=0` were not specified, not all smoothed measurement errors were displayed. - Fixed error in reference manual about the `conditional_forecasts` command. - Fixed smoother behaviour, provide informative error instead of crashing when model cannot be solved. - The `nopathchange` preprocessor option was always triggered, regardless of whether it was passed or not. - When `ramsey_policy` is used, allow state variables to be set in `histval` block. - `histval` erroneously accepted leads, leading to cryptic crashes. - The prior MC draws from previous runs were not deleted, potentially resulting in loading stale files. - `estim_params_` was being declared `global` more than once. - Fixed crashes happening when simulating linear models with order>1. - Make empirical moments independent of `simul_replic`, as stated in the reference manual, by outputting moments computed with the first simulated sample. - The `prior_function` required a preceding `estimation`-command to properly set up the prior. - If the mode for a parameter was at exactly 0, `mode_check` was crashing. - Fixed `get_posterior_parameters`-routine which should not do more than getting parameters. As a consequence, the `shock_decomposition`-command did not correctly set the `parameter_set` for use in subsequent function calls if shocks are correlated or measurement error is present. - Fixed bug in Ramsey problem with constraints both on a policy instrument and another variable. Note that the constraint on a variable that is not an instrument of the Ramsey problem must be written with an equation tag in the model block. - Fixed bug in Ramsey problem with constraints on policy instrument. - Fixed crash with optimizer 5 when not used with DSGE model at order 1. - Fixed mex file used for third order approximation (was crashing on Matlab/Windows 7). On behalf of the Dynare Team, Stéphane. Stéphane Adjemian https://stepan.adjemian.eu

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Release of Dynare 4.5.1
by Stéphane Adjemian 24 Jul '17

24 Jul '17

Dear Dynare users and friends, We are pleased to announce the release of Dynare 4.5.1. This is a bug fix release. The Windows packages are already available for download at: http://www.dynare.org/download/dynare-stable The Mac and GNU/Linux packages (for Debian and Ubuntu LTS) should follow soon. This release is compatible with MATLAB versions 7.3 (R2006b) to 9.2 (R2017a) and with GNU Octave versions 4.2. Here is a list of the problems identified in version 4.5.0 and that have been fixed in version 4.5.1: - Fixed out of memory issue with simpsa optimization algorithm. - Added missing plots for measurement errors with `generate_trace_plot` command. - Posterior moments after MCMC for very big models were not correctly computed and their plotting might crash Dynare. - Results of the posterior conditional variance decomposition after MCMC were not correctly computed. - Options `use_shock_groups` and `colormap` of the `shock_decomposition` command were not working. - Added a clean error message if sensitivity toolbox is used with recursive estimation. - Computation of posterior filtered variables was crashing in models with only one variable. - Fixed various typos and errors in the reference manual. On behalf of the Dynare Team Stéphane. -- Stéphane Adjemian Dynare Team

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