Hi all,
I am estimating a system by means of 3SLS. The default max. number of
iterations is set to 100. The estimator does not converge for my
specification, and I would like to increase the max. number.
However, I can't find the parameter option for the set command to
control the max. number of iterations.
For illustration: Here as an example for which the estimator converges
after 39 iterations. I am trying to set the max. number to 10 using
three different "maxiter" options but none of them is respcted.
<hansl>
set verbose off
open klein.gdt
series W = Wp + Wg
series A = t + (1918 - 1931)
series K1 = K(-1)
# set the model up as a system
"Klein Model 1" <- system
equation C 0 P P(-1) W
equation I 0 P P(-1) K1
equation Wp 0 X X(-1) A
end system
# 39 iterations until convergence
estimate "Klein Model 1" method=3sls --iterate
# Set max. 10 iterations --> Should not converge
set bfgs_maxiter 10
set bhhh_maxiter 10
set gmm_maxiter 10
estimate "Klein Model 1" method=3sls --iterate
</hansl>
Thanks,
Artur