Added comments in example.

parent d1c20d41
// Example 1 from Collard's guide to Dynare // --+ options: nostrict +--
** In the following example, the types (exogenous variable, endogenous variable, parameter) of the objects appearing in the model are declared
** on the fly in the equations. With the nostrict option, an object is by default an exogenous variable (if the type of an object is not declared
** in one of the equations, it will be interpreted as an exogenous variable). Without the nostrict option, Dynare will raise an error if the model
** contains untyped objects.
** An object followed by |e is an endogenous variable,
** |x is an exogenous variable,
** |p is a parameter.
** Example. If the first equation (consumption/leisure arbitrage) is removed from the following model block, then h (hours)
** will be interpreted as an exogenous variable.
model; model;
c|e*theta|p*h|e^(1+psi|p)=(1-alpha)*y; c*theta|p*h|e^(1+psi|p)=(1-alpha)*y;
k|e = beta|p*(((exp(b)*c)/(exp(b(+1))*c(+1))) k|e = beta|p*(((exp(b)*c)/(exp(b(+1))*c(+1)))
*(exp(b(+1))*alpha|p*y(+1)+(1-delta)*k)); *(exp(b(+1))*alpha|p*y(+1)+(1-delta)*k));
y|e = exp(a)*(k(-1)^alpha)*(h^(1-alpha)); y|e = exp(a)*(k(-1)^alpha)*(h^(1-alpha));
k = exp(b)*(y-c)+(1-delta|p)*k(-1); k = exp(b)*(y-c|e)+(1-delta|p)*k(-1);
a|e = rho|p*a(-1)+tau*b(-1) + e|x; a|e = rho|p*a(-1)+tau*b(-1) + e|x;
b|e = tau|p*a(-1)+rho*b(-1) + u|x; b|e = tau|p*a(-1)+rho*b(-1) + u|x;
end; end;
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