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DynareOBC v2.81.1640
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@tholden tholden released this 10 Sep 18:03
· 334 commits to master since this release
v2.81.1640
1dc4b48

This is a minor bug fix release. Previously, the covariance matrix used in the importance sampling proposal distribution was being calculated incorrectly. This release fixes this, along with some general improvements to the robustness of importance sampling.

The release notes for the previous version, released earlier today, follow:

This release contains a major new feature.

Previously, DynareOBC could not handle cases at order>1 where the implied zero lower bounded variable had a positive steady-state, but a negative risky steady-state. This was a common occurrence in Mendoza (2010) type models of sudden stops.

Now, DynareOBC will attempt to handle these cases by approximating around a different steady-state.

Additionally, this release contains a small change to make it easier to detect spurious solutions, which would have helped detect the problems with these Mendoza (2010) type models had it been in place earlier.

This release also updates various dependencies (including fixing issue #8 ) and makes various cosmetic changes.

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