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Created by: wtpfede

Hi all,

I'm using Dynarec to reimplement a basic Ramsey model from Ohanian and Cole (1999)

The code is as follows:

varexo e; %e are tfp shocks
var y, c, n, k, x, z, i;
parameters theta, beta, rho, delta, gamma, biga;

theta=0.33;
beta=.96;
delta = 0.10;
rho=0.9;
gamma = 0.019;
biga = 0.78;

model;

(1/c) = beta*(1/c(+1))*( 1- delta+ z(+1)*(x(+1)*n(+1))^(1-theta)* theta*(k(+1))^(theta-1)) ;
biga/(1-n)=(1/c)*((1-theta)*z*(k^theta)*(x*n)^(-theta)*x) ;
z=(1-rho)+rho*z(-1)+e ;
i=z*y-c;
k(+1)=i+(1-delta)*k ;
y=(k^theta)*(x*n)^(1-theta) ;
x=(1+gamma)*x(-1) ; 

end;

initval; 
y = 0.184068;
c = 0.127782;
n = 1/3;
k = 0.0562866;
x = 1;
z = 0.1;
i = 0.0562866;
end;

check; 
steady;

Unfortunately, Dynarec crashes silently.

All of the parameters and the equations have been double checked by our team, and the numerical values come straight from the original paper. We are on Octave 4.2.1 and Dynare 4.5.3.

If anyone has any pointers or could confirm this as a bug, this would be extremely helpful.