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Commit 39ae0809 authored by Johannes Pfeifer's avatar Johannes Pfeifer
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model_diagnostics.m: fix logic of Ramsey instrument checks

The mapping from economic to steady state instruments is not one-to-one. Trigger warnings instead of errors.
parent cc0d22cf
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1 merge request!2125model_diagnostics.m: fix logic of Ramsey instrument checks
......@@ -45,13 +45,13 @@ if options.ramsey_policy
orig_endo_aux_nbr = M.orig_endo_nbr + min(find([M.aux_vars.type] == 6)) - 1;
implied_inst_nbr = orig_endo_aux_nbr - M.orig_eq_nbr;
if inst_nbr>implied_inst_nbr
error('You have specified more instruments than there are omitted equations')
warning('You have specified more steady state instruments than there are omitted equations. While there are use cases for this setup, it is rather unusual. Check whether this is desired.')
elseif inst_nbr<implied_inst_nbr
error('You have specified fewer instruments than there are omitted equations')
warning('You have specified fewer steady state instruments than there are omitted equations. While there are use cases for this setup, it is rather unusual. Check whether this is desired.')
end
else
if options.steadystate_flag
error('You have specified a steady state file, but not provided an instrument. Either delete the steady state file or provide an instrument')
warning('You have specified a steady state file, but not provided steady state instruments. In this case, you typically need to make sure to provide all steady state values, including the ones for the planner''s instrument(s).')
end
end
end
......
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