Skip to content
Snippets Groups Projects
Select Git revision
  • c8045e2c5eb75d8f73dd5fd6b9995dd68859ac93
  • master default protected
  • 6.x protected
  • madysson
  • 5.x protected
  • asm
  • time-varying-information-set
  • 4.6 protected
  • dynare_minreal
  • dragonfly
  • various_fixes
  • 4.5 protected
  • clang+openmp
  • exo_steady_state
  • declare_vars_in_model_block
  • julia
  • error_msg_undeclared_model_vars
  • static_aux_vars
  • slice
  • aux_func
  • penalty
  • 6.4 protected
  • 6.3 protected
  • 6.2 protected
  • 6.1 protected
  • 6.0 protected
  • 6-beta2 protected
  • 6-beta1 protected
  • 5.5 protected
  • 5.4 protected
  • 5.3 protected
  • 5.2 protected
  • 5.1 protected
  • 5.0 protected
  • 5.0-rc1 protected
  • 4.7-beta3 protected
  • 4.7-beta2 protected
  • 4.7-beta1 protected
  • 4.6.4 protected
  • 4.6.3 protected
  • 4.6.2 protected
41 results

walsh1_initval.mod

Blame
  • user avatar
    Sébastien Villemot authored
    02efbd31
    History
    walsh1_initval.mod 1.39 KiB
    var y c k m n R pi z u;
    varexo	e sigma;	 
    // sigma stands for phi in the eq 2.37 p.69
    
    parameters alpha beta delta gamm phi1 eta a b rho  phi2 Psi thetass;  
    //phi1 stands for capital phi in eq.2.68 and 2.69
    //phi2 stands for lowercase phi in eq. 2.66
    
    change_type(var) Psi;
    change_type(parameters) n;
    
    alpha = 0.36;
    beta = 0.989; 
    gamm = 0.5;
    delta = 0.019;
    phi1 = 2;
    phi2 = 0;
    eta = 1;
    a = 0.95;
    b = 2.56;
    rho = 0.95;
    //Psi = 1.47630583;
    thetass = 1.0125;
    
    model;
    
    (a*exp(c)^(1-b)+(1-a)*exp(m)^(1-b))^((b-phi1)/(1-b))*a*exp(c)^(-b) = (a*exp(c)^(1-b)+(1-a)*exp(m)^(1-b))^((b-phi1)/(1-b))*(1-a)*exp(m)^(-b)+beta*(a*exp(c(+1))^(1-b)+(1-a)*exp(m(+1))^(1-b))^((b-phi1)/(1-b))*a*exp(c(+1))^(-b)/(1+pi(+1));
    
    Psi*(1-exp(n))^(-eta)/(a*exp(c)^(-b)*(a*exp(c)^(1-b) + (1-a)*exp(m)^(1-b))^((b-phi1)/(1-b))) = (1-alpha)*exp(y)/exp(n);
    
    (a*exp(c)^(1-b)+(1-a)*exp(m)^(1-b))^((b-phi1)/(1-b))*a*exp(c)^(-b) = beta*exp(R(+1))*(a*exp(c(+1))^(1-b)+(1-a)*exp(m(+1))^(1-b))^((b-phi1)/(1-b))*a*exp(c(+1))^(-b);
    
    exp(R) = alpha*exp(y)/exp(k(-1)) + 1-delta;
    
    exp(k) = (1-delta)*exp(k(-1))+exp(y)-exp(c);
    
    exp(y) = exp(z)*exp(k(-1))^alpha*exp(n)^(1-alpha);
    
    exp(m) = exp(m(-1))*(u+thetass)/(1+pi);
    
    z = rho*z(-1) + e;
    
    u = gamm*u(-1) + phi2*z(-1) + sigma;
    
    end;
    
    shocks;
    var e; stderr 0.007;
    var sigma;stderr 0.0089;
    end;
    
    n=log(1/3);
    
    initval;
    y =  0.2;
    c =  0.03;
    k =  2.7;
    m =  0.3;
    Psi = 1.5;
    R =  0.01;
    pi = 0.01;
    z = 0;
    u = 0;
    end;
    
    
    steady;