Dear all, Could someone have a look at the mod-file in http://www.dynare.org/phpBB3/viewtopic.php?f=1 <http://www.dynare.org/phpBB3/viewtopic.php?f=1&t=3700> &t=3700 In estimation, it sets prefilter=1 and hence options_.noconstant gets set to 1. dynare_estimation_1.m lines 1135 following in Dynare 4.2.5 and the current source read: if options_.noconstant yf = zeros(n_varobs,gend); else if options_.prefilter == 1 yf = atT(bayestopt_.mf,:)+repmat(bayestopt_.mean_varobs,1,gend); elseif options_.loglinear == 1 yf = atT(bayestopt_.mf,:)+repmat(log(ys(bayestopt_.mfys)),1,gend)+... trend_coeff*[1:gend]; else yf = atT(bayestopt_.mf,:)+repmat(ys(bayestopt_.mfys),1,gend)+... trend_coeff*[1:gend]; end end As a consequence, the filtered variables in yf, which are then plotted, are always 0. My guess is that this is a bug and the treatment of noconstant and prefilter is not consistent. Moreover, I am not sure why we save atT to the results eval(['oo_.SmoothedVariables.' deblank(M_.endo_names(i1,:)) ' = atT(i,:)'';']); but plot yf, which is a transformation of atT. Best, Johannes -- Johannes Pfeifer Haußerstr. 29 72076 Tübingen Tel.: +49-(0)7071-6396184 Mobil.: +49-(0)170-6936820 Germany