DummyInitialObservationPrior.tightness

DummyInitialObservationPrior.tightness: float

Weight of the restriction row relative to a data row.

Larger binds the system harder to a common trend through its pre-sample mean. Giannone, Lenza, and Primiceri parameterize the same row by \(\delta = 1 / \text{tightness}\), so their default of one coincides with this one and their “looser” is this field’s “smaller”. Must be positive.