Commit 87e4536f authored by Sébastien Villemot's avatar Sébastien Villemot
Browse files

Ref. manual: some clarifications concerning the planner objective

parent d83c5326
......@@ -4408,10 +4408,11 @@ for more information on this command.
@node Optimal policy
@section Optimal policy
Dynare has tools to compute optimal policies for quadratic
Dynare has tools to compute optimal policies for various types of
objectives. You can either solve for optimal policy under commitment
with @code{ramsey_policy}, for optimal policy under discretion with
@code{discretionary_policy} or for optimal simple rule with @code{osr}.
@code{discretionary_policy} or for optimal simple rule with
@code{osr}.
@anchor{osr}
......@@ -4547,6 +4548,13 @@ This command accepts the same options than @code{ramsey_policy}.
This command declares the policy maker objective, for use with
@code{ramsey_policy} or @code{discretionary_policy}.
You need to give the one-period objective, not the discounted lifetime
objective. The discount factor is given by the @code{planner_discount}
option of @code{ramsey_policy} and @code{discretionary_policy}.
Note that with this command you are not limited to quadratic
objectives: you can give any arbitrary nonlinear expression.
@end deffn
@node Sensitivity and identification analysis
......
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