Dynare 4.5.7 Released

Posted on 08 February 2019

We are pleased to announce the release of Dynare 4.5.7.

This is a bugfix release.

This release is compatible with MATLAB versions 7.5 (R2007b) to 9.4 (R2018b) and with GNU/Octave version 4.4.1.

Bug Fixes

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.