Identification issue in DSGE estimation

Topics: IRIS in General, Models
Nov 13, 2015 at 6:57 PM
Hi,

I am estimating a DSGE model using IRIS routines on Bayesian techniques. Since I am getting very high std deviations for parameters (common variance factor is also high) and some of the parameters hitting lower or upper bounds, I am guessing there is an identification issue.

Is there anyway to check which parameters are not identified in the model. Note that these are shock std deviation parameters, which I am getting weird results.

Thanks!