Dear Dynare users,

We are pleased to announce the release of Dynare 4.6.2.

This maintenance release fixes various bugs.

The Windows, macOS and source packages are already available for download at the Dynare website.

All users are strongly encouraged to upgrade.

This release is compatible with MATLAB versions ranging from 7.9 (R2009b) to 9.8 (R2020a), and with GNU Octave versions 5.2.0 (under Windows) and 4.4.1 (under macOS).

Note for Windows users: upon launching the Dynare installer, you may get a warning emitted by Windows Defender SmartScreen, saying that this is an unrecognized app and that it was prevented from starting. You can safely ignore this warning, as long as you can verify on the next screen that CEPREMAP is the editor of the software. This security warning is due to the fact that we had to renew our code signing certificate (which had expired), and it takes some time to rebuild our reputation as a software editor using the new certificate.

Here is a list of the problems identified in version 4.6.1 and that have been fixed in version 4.6.2:

* Perfect foresight simulations of purely backward models could deliver an incorrect result if some exogenous variable appeared with a lag of 2 or more (and neither block nor bytecode option was used) * Perfect foresight simulations of linear models could deliver an incorrect result if the following four conditions were met:

the model was actually declared as linear through the linear option there was an exogenous variable with a lead or a lag stack_solve_algo was equal to 0 (the default) or 7 neither block nor bytecode option was used

* In stochastic simulations, for variables that actually do not leave the steady state, reported simulated moments could be spurious (due to division by zero) * Displayed variance decompositions would only take into account measurement errors if measurement errors were present for all observed variables * The posterior variance decompositions with measurement errors computed with moments_varendo were incorrect * moments_varendo would not update oo_.PosteriorTheoreticalMoments if it was already present, from e.g. an earlier run of estimation * Identification would in some cases compute wrong Jacobian of moments * Identification would display incorrect results if parameter dependence was implemented via a steady state file * generate_trace_plots would crash when measurement errors were present * estimation would crash for correlated measurement errors * Parallel execution/testing could crash instead of aborting with a proper error message * Under macOS, Dynare would incorrectly claim that it is compiled for Octave 5.2.0 (it is actually compiled for Octave 4.4.1) * Using external functions in a model local variable would crash the preprocessor * Tolerance criteria for steady state computations were inconsistently set * stoch_simul with its default order=2 would crash with a message about hessian_eq_zero not existing if an explicit order=1 was present somewhere else in the .mod file * Model local variables were not written to the modfile.json JSON file * Model local variables names would have two spurious underscores at their point of definition in the dynamic.json and static.json files (but only in the definition, not when they were used, which is inconsistent) * The solve_algo=9 option was not accessible. The solve_algo=10 and solve_algo=11 options were not accessible with block (without bytecode) * Under certain circumstances, extended_path would crash when used in conjunction with the block option * extended_path was not working with the bytecode option * shock_decomposition was not accepting the options of estimation related to smoothing * conditional_forecast would display a warning even if the simulation was successful * The prior_trunc option of identification was not working * The rand_multivariate_student value of the proposal_distribution option was not working when used with the tailored_random_block_metropolis_hastings posterior sampling method * Perfect foresight simulations of backward models would crash if convergence failed with complex-valued residuals * The diffuse Kalman smoother would crash if Finf became singular

As a reminder, the list of new features introduced in versions 4.6.x can be found in the release notes for 4.6.0.

For the Dynare Team,