estimated_params_bounds

estimated_params_bounds — specifies lower and upper bounds for the estimated parameters

Synopsis

estimated_params_bounds;
{ stderr VARIABLE_NAME | corr VARIABLE_NAME_1, VARIABLE_NAME_2 | PARAMETER_NAME } , LOWER_BOUND , UPPER_BOUND ;
...
end;

Description

The estimated_params;....end; block lists all parameter to be estimated and specifies bounds and priors when required.

Estimated parameter specification

Each line corresponds to an estimated parameter and follows this syntax:

  • stderr is a keyword indicating that the standard error of the exogenous variable, VARIABLE_NAME, or of the observation error associated with endogenous observed variable, VARIABLE_NAME, is to be estimated

  • corr is a keyword indicating that the correlation between the exogenous variables, VARIABLE_NAME_1 and VARIABLE_NAME_2, or the correlation of the observation errors associated with endogenous observed variables, VARIABLE_NAME_1 and VARIABLE_NAME_2, is to be estimated

  • PARAMETER_NAME is the name of a model parameter to be estimated

  • LOWER_BOUND specifies a lower bound for the parameter value in maximum likelihood estimation

  • UPPER_BOUND specifies an upper bound for the parameter value in maximum likelihood estimation