diff --git a/matlab/aggregate.m b/matlab/aggregate.m
index 6c4a65dd5..4af51d5bd 100644
--- a/matlab/aggregate.m
+++ b/matlab/aggregate.m
@@ -166,7 +166,7 @@ xlist = xlist(1:xnum,:);
 xlist = xlist(idx,:);
 
 % Get parameter values.
-calibration = '';
+pArray = cell(0, 3);
 for i=1:length(varargin)
     fid = fopen(sprintf('%s/parameter-values.inc', varargin{i}));
     if fid<0
@@ -176,12 +176,51 @@ for i=1:length(varargin)
     end
     cline = fgetl(fid);
     while ischar(cline)
-        calibration = sprintf('%s\n%s', calibration, cline);
+        tmp = textscan(cline, '%s = %f', 'Delimiter', {';','=',' '});
+        pArray(end+1,1) = tmp{1};
+        pArray{end,2} = tmp{2};
+        pArray{end,3} = varargin{i};
         cline = fgetl(fid);
     end
     fclose(fid);
 end
 
+if rows(pArray)>1
+    irow = 2;
+    while irow<=rows(pArray)
+        ispreviouslydefined = strcmpi(pArray{irow,1}, pArray(1:irow-1,1));
+        if any(ispreviouslydefined)
+            if isnan(pArray{ispreviouslydefined,2})
+                if ~isnan(pArray{irow,2})
+                    % Remove first assignment (with NaN)
+                    pArray(ispreviouslydefined,:) = [];
+                else
+                    % Remove second assignment (both assigments are NaNs)
+                    pArray(irow,:) = [];
+                end
+            elseif isnan(pArray{irow,2})
+                % New assigment is NaN but not the previous one.
+                pArray(irow,:) = [];
+            else
+                % Check that the values are identical in both assignments.
+                if abs(pArray{ispreviouslydefined,2}-pArray{irow,2})>1e-10
+                    error('More than one assigment for parameter %s with different values (see cherrypicked files in %s and %s).', pArray{irow,1}, pArray{irow,3}, pArray{ispreviouslydefined,3});
+                else
+                    % Remove last assignement (duplicate).
+                    pArray(irow,:) = [];
+                end
+            end
+        else
+            irow = irow+1;
+        end
+    end
+end
+
+calibration = '';
+for i=1:rows(pArray)
+    calibration = sprintf('%s%s = %f;\n', calibration, pArray{i,1}, pArray{i,2});
+end
+
 % Move the endogenous variables which are not LHS of an equation
 % into the set of exogenous variables.
 [~, i1] = intersect(elist(:,1), eqlist(:,1));
diff --git a/tests/ecb/aggregate/3/parameter-values.inc b/tests/ecb/aggregate/3/parameter-values.inc
index 5650b370d..086291556 100644
--- a/tests/ecb/aggregate/3/parameter-values.inc
+++ b/tests/ecb/aggregate/3/parameter-values.inc
@@ -4,4 +4,5 @@ c3 = -.3;
 d3 = -.4;
 e3 = -.5;
 f3 = -.6;
-g3 = -.7;
\ No newline at end of file
+g3 = -.7;
+g1 = .7;
diff --git a/tests/ecb/aggregate/3/parameters.inc b/tests/ecb/aggregate/3/parameters.inc
index f64aed1e0..10d830ddd 100644
--- a/tests/ecb/aggregate/3/parameters.inc
+++ b/tests/ecb/aggregate/3/parameters.inc
@@ -1 +1 @@
-parameters a3 b3 c3 d3 e3 f3 g3;
\ No newline at end of file
+parameters a3 b3 c3 d3 e3 f3 g3 g1;