diff --git a/doc/manual/source/the-model-file.rst b/doc/manual/source/the-model-file.rst index 6c1a32004..677b7ec95 100644 --- a/doc/manual/source/the-model-file.rst +++ b/doc/manual/source/the-model-file.rst @@ -11286,7 +11286,10 @@ IRF and moment calibration can be defined in ``irf_calibration`` and When ``(INTEGER:INTEGER)`` is used, the restriction is considered to be fulfilled by a logical OR. A list of restrictions must - always be fulfilled with logical AND. + always be fulfilled with logical AND. The moment restrictions generally apply to + auto- and cross-correlations between variables. The only exception is a restriction + on the unconditional variance of an endogenous variable, specified as shown in + the example below. *Example* @@ -11294,12 +11297,12 @@ IRF and moment calibration can be defined in ``irf_calibration`` and moment_calibration; y_obs,y_obs, [0.5, 1.5]; //[unconditional variance] - y_obs,y_obs(-(1:4)), +; //[sign restriction for first year acf with logical OR] + y_obs,y_obs(-(1:4)), +; //[sign restriction for first year autocorrelation with logical OR] @#for ilag in -2:2 - y_obs,R_obs(@{ilag}), -; //[-2:2 ccf with logical AND] + y_obs,R_obs(@{ilag}), -; //[-2:2 cross correlation with logical AND] @#endfor @#for ilag in -4:4 - y_obs,pie_obs(@{ilag}), -; //[-4_4 ccf with logical AND] + y_obs,pie_obs(@{ilag}), -; //[-4_4 cross correlation with logical AND] @#endfor end;