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Commit 133e51e6 authored by Stéphane Adjemian's avatar Stéphane Adjemian
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Changed the test files conformably to the latest commits related to the...

Changed the test files conformably to the latest commits related to the (stochastic) extended path approach.
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...@@ -15,7 +15,7 @@ sigma2 = 0.0001; ...@@ -15,7 +15,7 @@ sigma2 = 0.0001;
external_function(name=mean_preserving_spread); external_function(name=mean_preserving_spread);
model(block,bytecode); model;
// Eq. n°1: // Eq. n°1:
efficiency = rho*efficiency(-1) + EfficiencyInnovation; efficiency = rho*efficiency(-1) + EfficiencyInnovation;
......
...@@ -11,7 +11,7 @@ sigma = -0.06; ...@@ -11,7 +11,7 @@ sigma = -0.06;
gamma1 = 1.5; gamma1 = 1.5;
gamma2 = 0.5; gamma2 = 0.5;
model(block,bytecode,cutoff=0); model(use_dll);
y = delta * y(-1) + (1-delta)*y(+1)+sigma *(r - pie(+1)) + e_y; y = delta * y(-1) + (1-delta)*y(+1)+sigma *(r - pie(+1)) + e_y;
pie = alpha * pie(-1) + (1-alpha) * pie(+1) + kappa*y + e_pie; pie = alpha * pie(-1) + (1-alpha) * pie(+1) + kappa*y + e_pie;
r = gamma1*pie+gamma2*y; r = gamma1*pie+gamma2*y;
......
...@@ -21,7 +21,7 @@ sigma2 = 0.0001; ...@@ -21,7 +21,7 @@ sigma2 = 0.0001;
external_function(name=mean_preserving_spread); external_function(name=mean_preserving_spread);
model(block,bytecode); model(use_dll);
// Eq. n°1: // Eq. n°1:
efficiency = rho*efficiency(-1) + EfficiencyInnovation; efficiency = rho*efficiency(-1) + EfficiencyInnovation;
......
@#define extended_path_version = 0 @#define extended_path_version = 1
var Capital, Output, Labour, Consumption, Efficiency, efficiency, ExpectedTerm, LM, LagrangeMultiplier; var Capital, Output, Labour, Consumption, Investment, Efficiency, efficiency, ExpectedTerm;
varexo EfficiencyInnovation; varexo EfficiencyInnovation;
...@@ -28,7 +28,7 @@ sigma2 = 0.001; ...@@ -28,7 +28,7 @@ sigma2 = 0.001;
external_function(name=mean_preserving_spread); external_function(name=mean_preserving_spread);
model(block,bytecode,cutoff=0); model(use_dll);
// Eq. n°1: // Eq. n°1:
efficiency = rho*efficiency(-1) + EfficiencyInnovation; efficiency = rho*efficiency(-1) + EfficiencyInnovation;
...@@ -40,22 +40,19 @@ model(block,bytecode,cutoff=0); ...@@ -40,22 +40,19 @@ model(block,bytecode,cutoff=0);
Output = Efficiency*(alpha*(Capital(-1)^psi)+(1-alpha)*(Labour^psi))^(1/psi); Output = Efficiency*(alpha*(Capital(-1)^psi)+(1-alpha)*(Labour^psi))^(1/psi);
// Eq. n°4: // Eq. n°4:
Capital = max(Output-Consumption + (1-delta)*Capital(-1),(1-delta)*Capital(-1)); Capital = max(Output-Consumption,0) + (1-delta)*Capital(-1);
// Eq. n°5: // Eq. n°5:
((1-theta)/theta)*(Consumption/(1-Labour)) - (1-alpha)*(Output/Labour)^(1-psi); ((1-theta)/theta)*(Consumption/(1-Labour)) - (1-alpha)*(Output/Labour)^(1-psi);
// Eq. n°6: // Eq. n°6:
(((Consumption^theta)*((1-Labour)^(1-theta)))^(1-tau))/Consumption - LagrangeMultiplier - ExpectedTerm(1); ExpectedTerm = beta*((((Consumption^theta)*((1-Labour)^(1-theta)))^(1-tau))/Consumption)*(alpha*((Output/Capital(-1))^(1-psi))+1-delta);
// Eq. n°7: // Eq. n°7:
(Capital==(1-delta)*Capital(-1))*(Output-Consumption) + (1-(Capital==(1-delta)*Capital(-1)))*LM = 0; Investment = Capital - (1-delta)*Capital(-1);
// Eq. n°8: // Eq. n°8: (Euler equation, to be skipped if investment is on its lower bound)
(LM<0)*(LM+LagrangeMultiplier) + (1-(LM<0))*(LM-LagrangeMultiplier) = 0; (Investment>0)*((((Consumption^theta)*((1-Labour)^(1-theta)))^(1-tau))/Consumption - ExpectedTerm(1)) + (1-(Investment>0))*(Output-Consumption);
// Eq. n°9:
ExpectedTerm = beta*(((((Consumption^theta)*((1-Labour)^(1-theta)))^(1-tau))/Consumption)*(alpha*((Output/Capital(-1))^(1-psi))+(1-delta))-(1-delta)*LagrangeMultiplier);
end; end;
...@@ -98,7 +95,6 @@ end; ...@@ -98,7 +95,6 @@ end;
steady; steady;
options_.maxit_ = 100; options_.maxit_ = 100;
options_.stack_solve_algo = 4;
simul(periods=4000); simul(periods=4000);
......
...@@ -43,6 +43,7 @@ ys(1)=SteadyStateCapital; ...@@ -43,6 +43,7 @@ ys(1)=SteadyStateCapital;
ys(2)=SteadyStateOutput; ys(2)=SteadyStateOutput;
ys(3)=SteadyStateLabour; ys(3)=SteadyStateLabour;
ys(4)=SteadyStateConsumption; ys(4)=SteadyStateConsumption;
ys(5)=M_.params(8); ys(5)=ys(2)-ys(4);
ys(7)=M_.params(1)*((((SteadyStateConsumption^M_.params(2))*((1-SteadyStateLabour)^(1-M_.params(2))))^(1-M_.params(3)))/SteadyStateConsumption)* ... ys(6)=M_.params(8);
ys(8)=M_.params(1)*((((SteadyStateConsumption^M_.params(2))*((1-SteadyStateLabour)^(1-M_.params(2))))^(1-M_.params(3)))/SteadyStateConsumption)* ...
(M_.params(4)*((SteadyStateOutput/SteadyStateCapital)^(1-M_.params(5)))+1-M_.params(6)); (M_.params(4)*((SteadyStateOutput/SteadyStateCapital)^(1-M_.params(5)))+1-M_.params(6));
\ No newline at end of file
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