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    • New `dr_cycle_reduction_maxiter` option authored by Sébastien Villemot's avatar Sébastien Villemot
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    NewFeatures.md
    View page @ 0437f7af
    This page documents the changes between Dynare versions (including the unstable
    one). For previous versions of Dynare, please read the dedicated frozen page on
    the [DynareWiki](http://www.dynare.org/DynareWiki/NewFeatures).
    Dynare 7 (unstable)
    -------------------
    - Method of moments now supports estimation with discretionary optimal policy (!2279)
    - Option values `solve_algo={6,7,8}` and `stack_solve_algo={2,3}` are now available without `block` nor `bytecode` (e14a49211067b27114d8173b16d4cb8f7595b0c3, aa263e6a2adc9414142551a01bbcc46abb6a3894)
    - More flexible syntax for specifying complementarity conditions (461c30fea8c296e88388f9775a2e92e674b0e3d2, 656c130036706849e7d08d9411b352b45a19eccb)
    - The complementarity condition is now specified between the associated equation and its closing semicolon, using the perpendicular symbol as a separator (the latter can be input either in UTF-8, as `⟂`, corresponding to Unicode codepoint U+27C2; or alternatively as pure ASCII, as `_|_`, *i.e.* a vertical bar enclosed within two underscores)
    - Both the lower and the upper bounds can be specified at the same time in a given complementarity condition
    - Arbitrary functions of parameters can appear in the bounds
    - The old syntax using the `mcp` equation tag is still supported but deprecated
    - Here is an example of an equation with an associated complementarity condition, using the new syntax:
    ```
    mu = 0 ⟂ 0 < i < 1+2*alpha;
    ```
    Dynare 6
    --------
    - The Sequential Monte Carlo sampler as described by Herbst and Schorfheide (2014) is now available under value `hssmc` for option `posterior_sampling_method`.
    - New routines for perfect foresight simulation with expectation errors. In such a scenario, agents make expectation errors in that the path they had anticipated in period 1 is not realized exactly. More precisely, in some simulation periods, they may receive new information that makes them revise their anticipation for the path of future shocks. Also, under this scenario, it is assumed that agents behave as under perfect foresight, *i.e.* they make their decisions as if there were no uncertainty and they knew exactly the path of future shocks; the new information that they may receive comes as a total surprise to them. Available under new `perfect_foresight_with_expectation_errors_setup` and `perfect_foresight_with_expectation_errors_solver` commands, and `shocks(learnt_in=…)`, `mshocks(learnt_in=…)` and `endval(learnt_in=…)` blocks.
    - New routines for IRF matching with stochastic simulations:
    - Both frequentist (as in Christiano, Eichenbaum, and Evans, 2005) and Bayesian (as in Christiano, Trabandt, and Walentin, 2010) IRF matching approaches are implemented. The core idea of IRF matching is to treat empirical impulse responses (*e.g.* given from an SVAR or local projection estimation) as data and select model parameters that align the model’s IRFs closely with their empirical counterparts. (!2191)
    - Available under option `mom_method = irf_matching` option to the `method_of_moments` command. (preprocessor!85)
    - New blocks `matched_irfs` and `matched_irfs_weights` for specifying the values and weights of the empirical impulse response functions. (preprocessor#124)
    - Pruning à la Andreasen et al. (2018) is now available at an arbitrary approximation order when performing stochastic simulations with `stoch_simul` (!2147), and at 3rd order when performing particle filtering. (!2071, particles!16, !2045)
    - New `log` option to the `var` statement. In addition to the endogenous variable(s) thus declared, this option also triggers the creation of auxiliary variable(s) equal to the log of the corresponding endogenous variable(s). For example, given a `var(log) y;` statement, two endogenous will be created (`y` and `LOG_y`), and an auxiliary equation linking the two will also be added (equal to `y = exp(LOG_y);`). Moreover, every occurrence of `y` in the model will be replaced by `exp(LOG_y)`. This option is, for example, useful for performing a loglinear approximation of some variable(s) in the context of a first-order stochastic approximation; or for ensuring that the variable(s) stay(s) in the definition domain of the function defining the steady state or the dynamic residuals when the nonlinear solver is used. (#349)
    - New model editing features (21a8a5794a83b5098cad0fe7beab93dcbe5ef6bf and 4db28998687b8845568e8750d99a1b45f0d6a94f)
    - Multiple `model` blocks are now supported (this was already working but not explicitly documented).
    - Multiple `estimated_params` blocks now concatenate their contents (instead of overwriting previous ones, which was the former undocumented behavior); an `overwrite` option has been added to provide the old behavior. (preprocessor@60ef6bbdbd2f95b7f8d52b1c10cf6bb9aa7773cc, preprocessor@ea44aa19d6dd2bf4c508ee081b2b6cae2a647250)
    - New `model_options` statement to set model options in a global fashion. (preprocessor#19)
    - New `model_remove` command to remove equations. (preprocessor@1f004584e9c8b2ea5fbda6dd5413b516ce956679)
    - New `model_replace` block to replace equations. (preprocessor@1f004584e9c8b2ea5fbda6dd5413b516ce956679)
    - New `var_remove` command to remove variables (or parameters). (preprocessor@342c4faf8d95169b7391507e703c88d76b38a243)
    - New `estimated_params_remove` block to remove estimated parameters. (preprocessor@5ffbc5bad31c306f561d673cde36d460cb5906c1)
    - Stochastic simulations
    - Performance improvements for simulation of the solution under perturbation and for particle filtering at higher order (⩾ 3). (#1802, !2071, particles!16, !2045)
    - Performance improvement for the first order perturbation solution using either cycle reduction (`dr=cycle_reduction` option) or logarithmic reduction (`dr=logarithmic_reduction`). (!2085, !2089)
    - New `nomodelsummary` option to the `stoch_simul` command, to suppress the printing of the model summary and the covariance of the exogenous shocks. (a00eb5e1ded61d2e0086f841203a5eec96e77931)
    - Estimation
    - A truncated normal distribution can now be specified as a prior, using the 3rd and 4th parameters of the `estimated_params` block as the bounds. (!2161)
    - New `conditional_likelihood` option to the `estimation` command. When the option is set, instead of using the Kalman filter to evaluate the likelihood, Dynare will evaluate the conditional likelihood based on the first-order reduced form of the model by assuming that the initial state vector is at its steady state. (b7693c32, f7694208)
    - New `additional_optimizer_steps` option to the `estimation` command to trigger the sequential execution of several optimizers when looking for the posterior mode. (!2178)
    - The `generate_trace_plots` command now allows comparing multiple chains. (baf8243f)
    - The Geweke and Raftery-Lewis convergence diagnostics will now also be displayed when `mh_nblocks>1`. (d0e99daf9ae84cf3a605fa4cf49d506d36b2bd95)
    - New `robust`, `TolGstep`, and `TolGstepRel` options to the optimizer available under `mode_compute=5` (“newrat”). (!2231)
    - New `brooks_gelman_plotrows` option to the `estimation` command for controlling the number of parameters to depict along the rows of the figures depicting the Brooks and Gelman (1998) convergence diagnostics. (!2146)
    - New `mh_init_scale_factor` option to the `estimation` command tor govern the overdispersion of the starting draws when initializing several Monte Carlo Markov Chains. This option supersedes the `mh_init_scale` option, which is now deprecated. (!2041)
    - Steady state computation
    - Steady state computation now accounts for occasionally-binding constraints of mixed-complementarity problems (as defined by `mcp` tags). (!1877)
    - New `tolx` option to the `steady` command for governing the termination based on the step tolerance. (preprocessor!60)
    - New `fsolve_options` option to the `steady` command for passing options to `fsolve` (in conjunction with the `solve_algo=0` option). (#1856)
    - New option `from_initval_to_endval` option to the `homotopy_setup` block, for easily computing homotopy from initial to terminal steady state (when the former is already computed). (2e3fbfc0408a360dd169c927a5ea38c89f6ff95c)
    - New `non_zero` option to `resid` command to restrict display to non-zero residuals. (preprocessor@9db21a231c5ab8f8aa26680ffecf3abfcf45bfab, 3d7299c1e490a6813de2b2cb450b738b4c7acdf9)
    - Perfect foresight
    - Significant performance improvement of the `stack_solve_algo=1` option to the `perfect_foresight_solver` command (Laffargue-Boucekkine-Juillard algorithm) when used in conjunction with options `block` and/or `bytecode` of the `model` block. (17b016d983be260aa09926809d1f3465307c58e2, be648d350b162152e999b8ffad830dce6b373190, 77a7d5c3dec67b6d9943fc23c11afbb1d0cfd431)
    - New `relative_to_initval` option to the `mshocks` block, to use the initial steady state as a basis for the multiplication when there is an `endval` block. (5145bd0708697230c7adeb23c8a0dabf37f4cb3f)
    - New `static_mfs` option to the `model` block (and to the `model_options` command), for controlling the minimum feedback set computation for the static model. It defaults to `0` (corresponding to the behavior in Dynare version 5).
    - Various improvements to homotopy
    - New `endval_steady` option to the `perfect_foresight_setup` command for computing the terminal steady state at the same time as the transitory dynamics (and new options `steady_solve_algo`, `steady_tolf`, `steady_tolx`, `steady_maxit` and `steady_markowitz` for controlling the steady state nonlinear solver). (d5a3a8e16af56af23c8eb27a693b2e67579bfde0)
    - New `homotopy_linearization_fallback` and `homotopy_marginal_linearization_fallback` options to the `perfect_foresight_solver` command to get an approximate solution when homotopy fails to go to 100%. (d5a3a8e16af56af23c8eb27a693b2e67579bfde0)
    - New `homotopy_initial_step_size`, `homotopy_min_step_size`, `homotopy_step_size_increase_success_count` and `homotopy_max_completion_share` options to the `perfect_foresight_solver` command to fine tune the homotopy behavior. (d5a3a8e16af56af23c8eb27a693b2e67579bfde0)
    - Purely backward, forward and static models are now supported by the homotopy procedure. (fe142b663ef34d26969191d2a096b08aecc1eb10)
    - New `homotopy_exclude_varexo` option to the `perfect_foresight_solver` command, for excluding exogenous variables from the homotopy procedure (only available since version 6.1) (9f65299d8a7e63de8432a73bffdc8899eb27e936)
    - The `stack_solve_algo=1` and `stack_solve_algo=6` options of the `perfect_foresight_solver` command were merged and are now synonymous. They both provide the Laffargue-Boucekkine-Juillard algorithm and work with and without the `block` and `bytecode` options of the `model` block. Using `stack_solve_algo=1` is now recommended, but `stack_solve_algo=6` is kept for backward compatibility. (06f665e231c1a66863612eb75802ff4f0b698c57)
    - OccBin
    - New `simul_reset_check_ahead_periods` option to the `occbin_setup` and `occbin_solver` commands, for resetting `check_ahead_periods` in each simulation period. (3765ef77)
    - new `simul_max_check_ahead_periods`, `likelihood_max_check_ahead_periods`, and `smoother_max_check_ahead_periods` options to the `occbin_setup` command, for truncating the number of periods for which agents check ahead which regime is present. (2f236048 and preprocessor@ed95a2ca )
    - Optimal policy
    - The `osr` command now accepts the `analytic_derivation` and `analytic_derivation_mode` options. (!2171)
    - The `evaluate_planner_objective` command now computes the unconditional welfare for higher-order approximations (⩾ 3). (!1962)
    - New `periods` and `drop` options to the `evaluate_planner_objective` command. (!1967)
    - Semi-structural models
    - New `pac_target_info` block for decomposing the PAC target into an arbitrary number of components. Furthermore, in the presence of such a block, the new `pac_target_nonstationary` operator can be used to select the non stationary part of the target (typically useful in the error correction term of the PAC equation). (b297353b06c9c35223500439c0bc63321675768b)
    - New `kind` option to the `pac_model` command. This option allows the user to select the formula used to compute the weights on the VAR companion matrix variables that are used to form PAC expectations. (b297353b06c9c35223500439c0bc63321675768b)
    - Performance improvement to `solve_algo=12` and `solve_algo=14`, which significantly accelerates the simulation of purely backward, forward and static models with the `perfect_foresight_solver` command and the routines for semi-structural models.
    - dseries classes
    - The `remove` and `remove_` methods now accept a list of variables (they would previously only accept a single variable). (dseries@b7ca9c3e, c02e5505)
    - New MATLAB/Octave command `dplot` to plot mathematical expressions generated from variables fetched from (different) dseries objects. (dseries@d6c8d039a2f828e5ea009d7181c8145d23932d69).
    - Misc
    - New `display_parameter_values` command to print the parameter values in the command window. (!2268)
    - New `collapse_figures_in_tabgroup` command to dock all figures. (!2263)
    - Performance improvement for the `use_dll` option of the `model` block. The preprocessor now takes advantage of parallelization when compiling the MEX files. (preprocessor@f6053df7545174885486a457a2253897a1ed4e27, preprocessor@5cf4729ab0790084af0b0a9e9a1062ddefff3401, preprocessor@dd66459e5f2e5c57ea25cb4a0e8709b22ff3195b, preprocessor@3dd40c6c42d82997972e90899da8632a747f5c90)
    - New mathematical primitives available: complementary error function (`erfc`), hyperbolic functions (`cosh`, `sinh`, `tanh`, `acosh`, `asinh`, `atanh`). (preprocessor#85, preprocessor@c0ea8d72038cd6c57e48aca26d2d29866848ae0a)
    - New `last_simulation_period` option to the `initval_file` command. (#1838, f5f47cd834049bd5111f23622fb2c68d0e6a619b, preprocessor@ddddf89d9cd8771bb80beb5c44efe53f4734b41f)
    - The `calib_smoother` command now accepts the `nobs` and `heteroskedastic_filter` options. (!2110)
    - Under the MATLAB Desktop, autocompletion is now available for the `dynare` command and other CLI commands (thanks to Eduard Benet Cerda from MathWorks). (36a2a41e357780d468582c78c4cbb738c5bb4b26)
    - Model debugging: The preprocessor now creates files for evaluating the left- and right-hand sides of model equations separately. For a model file called `ramst.mod`, you can call `[lhs,rhs]=ramst.debug.static_resid(y,x,params);` (for the static model) and `[lhs,rhs]=ramst.debug.dynamic_resid(y,x,params,steady_state);` (for the dynamic model), where `y` are the endogenous, `x` the exogenous, `params` the parameters, and `steady_state` is self-explanatory. NB: In the dynamic case, the vector `y` of endogenous must have $3n$ elements where $n$ is the number of endogenous (including auxiliary ones); the first $n$ elements correspond to the lagged values, the middle $n$ elements to the contemporaneous values, and the last $n$ elements to the lead values.
    - New interactive MATLAB/Octave command `search` for listing the equations in which given variable(s) appear (requires `json` command line option). (#1886)
    - The `model_info` command allows to print the block decomposition even if the `block` option of the `model` block has not been used, by specifying the new options `block_static` and `block_dynamic`.
    - There is now a default value for the global initialization file (`GlobalInitFile` option of the configuration file): the `global_init.m` in the Dynare configuration directory (typically `$HOME/.config/dynare/global_init.m` under Linux and macOS, and `c:\Users\USERNAME\AppData\Roaming\dynare\global_init.m` under Windows). (43b24facb)
    - For those compiling Dynare from source, the build system has been entirely rewritten and now uses Meson; as a consequence, it is now faster and easier to understand.
    - Incompatible changes
    - :warning: The default value of the `mode_compute` option of the `estimation` command has been changed to `5` (it was previously `4`).
    - :warning: When using block decomposition (with the `block` option of the `model` block), the option `mfs` now defaults to `1`. This setting should deliver better performance in perfect foresight simulation on most models.
    - :warning: The default location for the configuration file has changed. On Linux and macOS, the configuration file is now searched by default under `dynare/dynare.ini` in the configuration directories defined by the XDG specification (typically `$HOME/.config/dynare/dynare.ini` for the user-specific configuration and `/etc/xdg/dynare/dynare.ini` for the system-wide configuration, the former having precedence over the latter). Under Windows, the configuration file is now searched by default in `%APPDATA%\dynare\dynare.ini` (typically `c:\Users\USERNAME\AppData\Roaming\dynare\dynare.ini`). (43b24facb)
    - :warning: The information stored in `oo_.endo_simul, oo_.exo_simul`, and `oo_.irfs` is no longer duplicated in the base workspace. New helper functions `send_endogenous_variables_to_workspace`, `send_exogenous_variables_to_workspace`, and `send_irfs_to_workspace` have been introduced to explicitly request these outputs and to mimic the old behavior. (!2229)
    - :warning: The `dynare_sensitivity` command has been renamed `sensitivity`. The old name is still accepted but triggers a warning. (66bc9fd9c2707c787efae797e1976b7052159dc4)
    - :warning: The syntax `resid(1)` is no longer supported.
    - :warning: The `mode_compute=6` option to the `estimation` command now recursively updates the covariance matrix across the `NumberOfMh` Metropolis-Hastings runs, starting with the `InitialCovarianceMatrix` in the first run, instead of computing it from scratch in every Metropolis-Hastings run. (e5102eee)
    - :warning: The `periods` command has been removed. (1b47c8a5e551be046fba8b592d29f38e17099bfe)
    - :warning: The `Sigma_e` command has been removed. (e30314e75d0d4fa2e587079bdbeeb2e2e4af3383)
    - :warning: The `block` option of the `model` block no longer has an effect when used in conjunction with `stoch_simul` or `estimation` commands. (8f1a4cb3637fe4936ade877c88e6a120af2b5f24)
    - :warning: The Dynare++ executable is no longer distributed since almost all of its functionalities have been integrated inside Dynare for MATLAB/Octave. (c1922c3ad0a920d48fd32ec7026bfd5ebd55a824)
    - :warning: A macro-processor variable defined without a value (such as `@#define var` in the `.mod` file or alternatively `-Dvar` on the `dynare` command line) is now assigned the `true` logical value (it was previously assigned `1`). (preprocessor#43)
    - :warning: The `parallel_slave_open_mode` option of the `dynare` command has been renamed `parallel_follower_open_mode`. (preprocessor#86, !1976)
    - :warning: The `static` option of the `model_info` command is now deprecated and is replaced by the `block_static` option. (45450651 and preprocessor@2fd06811)
    - References:
    - Andreasen, Martin M., Jesús Fernández-Villaverde, and Juan Rubio-Ramírez (2018): “The Pruned State-Space System for Non-Linear DSGE Models: Theory and Empirical Applications,” *Review of Economic Studies*, 85(1), 1-49.
    - Brooks, Stephen P., and Andrew Gelman (1998): “General methods for monitoring convergence of iterative simulations,” *Journal of Computational and Graphical Statistics*, 7, pp. 434–455.
    - Christiano, Eichenbaum and Charles L. Evans (2005): “Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy,” *Journal of Political Economy*, 113(1), 1–45.
    - Christiano, Lawrence J., Mathias Trabandt, and Karl Walentin (2010): “DSGE Models for Monetary Policy Analysis,” In: *Handbook of Monetary Economics 3*, 285–367.
    - Herbst, Edward and Schorfheide, Frank (2014): "Sequential Monte Carlo Sampling for DSGE Models," *Journal of Applied Econometrics*, 29, 1073-1098.
    Dynare 5
    --------
    - New routines for simulating semi-structural (backward) models where
    some equations incorporate expectations based on future values of a VAR or
    trend component model. See the `var_model`, `trend_component_model` and
    `var_expectation_model` commands, and the `var_expectation` operator.
    - New routines for simulating semi-structural models where some equations are
    specified using the polynomial adjustment costs (PAC) approach, as in
    the FRB/US model (see Brayton et al., 2014 and Brayton et al., 2000) and the ECB-BASE model (see
    Angelini et al., 2019). The forward-looking terms of the PAC equations can
    be computed either using a satellite VAR model, or using full
    model-consistent expectations. See the `pac_model` command and the
    `pac_expectation` operator.
    - New Method of Moments toolbox that provides functionality to estimate
    parameters by (i) Generalized Method of Moments (GMM) up to 3rd-order pruned
    perturbation approximation or (ii) Simulated Method of Moments (SMM) up to
    any perturbation approximation order. The toolbox is inspired by
    replication codes accompanied to Andreasen et al. (2018), Born and Pfeifer
    (2014), and Mutschler (2018). It is accessible via the new
    `method_of_moments` command (!1750) and the new `matched_moments` block
    (preprocessor!23). Moreover, by default, a new non-linear least squares optimizer
    based on `lsqnonlin` is used for minimizing the method of moments objective function (available under `mode_compute=13`) (3615962a6107e211861d7461e2310ba2d1366369, b4f293bdf29f766dfb3314b48d2407716a7d7025). GMM can further benefit from using Gradient-based optimizers (using `analytic_standard_errors` option and/or passing `'Jacobian','on'` to the optimization options) as the Jacobian of the moment conditions can be computed analytically (a697002a4ee54b28551f3583757b7e0395121db6).
    - Implementation of the Occbin algorithm by Guerrieri and Iacoviello (2015) (#569,
    preprocessor#68), together with the inversion filter of Cuba-Borda,
    Guerrieri, Iacoviello, and Zhong (2019) and the piecewise Kalman filter of Giovannini,
    Pfeiffer, and Ratto (2021) (!1876). It is available via the new block
    `occbin_constraints` and the new commands `occbin_setup`, `occbin_solver`,
    `occbin_graph` and `occbin_write_regimes`.
    - Stochastic simulations
    - `stoch_simul` now supports theoretical moments at `order=3` with
    `pruning`. (dfc73576)
    - `stoch_simul` now reports second moments based on the pruned state space
    if the `pruning` option is set (in previous Dynare releases it would
    report a second-order accurate result based on the linear solution).
    (4cf9f7d1a7fa5dac8f91ff3344a6114c7f15959c)
    - Estimation
    - Performance optimization to pruned state space system and Lyapunov
    solvers. (!1749, !1745, #1737)
    - New option `mh_posterior_mode_estimation` to `estimation` to perform
    mode-finding by running the MCMC.
    (preprocessor@8d14e18cdbaced798c5330e00c7f5df488187cd6)
    - New heteroskedastic filter and smoother, where shocks standard error may
    *unexpectedly* change in every period. Triggered by
    `heteroskedastic_filter` option of the `estimation` command, and
    configured via the `heteroskedastic_shocks` block. (!1844, !1851)
    - New option `mh_tune_guess` for setting the initial value for
    `mh_tune_jscale`. (!1717)
    - New option `smoother_redux` to `estimation` and `calib_smoother` to
    trigger computing the Kalman smoother on a restricted state space instead
    of the full one. (!1859)
    - New block `filter_initial_state` for setting the initial condition of the
    Kalman filter/smoother. (7c8f4867)
    - New option `mh_initialize_from_previous_mcmc` to the `estimation` command
    that allows to pick initial values for a new MCMC from a previous one.
    (!1841)
    - The `xls_sheet` option of the `estimation` command now takes a quoted
    string as value. The former unquoted syntax is still accepted, but no
    longer recommended. (preprocessor#67)
    - New option `particle_filter_options` to set various particle filter options
    - Perfect foresight and extended path
    - New specialized algorithm in `perfect_foresight_solver` to deal with
    purely static problems. (27ee801a6755df021994acf061eb07d7feebf316)
    - The `debug` option of `perfect_foresight_solver` provides debugging
    information if the Jacobian is singular. (!1834)
    - In deterministic models (perfect foresight or extended path), exogenous
    variables with lead/lags are now replaced by auxiliary variables. This
    brings those models in line with the transformation done on stochastic
    models. However note that transformation is still not exactly the same
    between the two classes of models, because there is no need to take into
    account the Jensen inequality on the latter. In deterministic models,
    there is a one-to-one mapping between exogenous with lead/lags and
    auxiliaries, while in stochastic models, an auxiliary endogenous may
    correspond to a more complex nonlinear expression.
    (preprocessor@9bca65c7e525a2415fe46b27e8760208b22aba9d)
    - Optimal policy
    - Several improvements to `evaluate_planner_objective`:
    - it now applies a consistent approximation order when doing the
    computation;
    - in addition to the conditional welfare, it now also provides the
    unconditional welfare;
    - in a stochastic context, it now works with higher order approximation
    (only the conditional welfare is available for order ⩾ 3); (!1828,
    !1866)
    - it now also works in a perfect foresight context. (!1833)
    - `discretionary_policy` is now able to solve nonlinear models (it will
    then use their first-order approximation, and the analytical steady state
    must be provided). (!1792)
    - Identification
    - New option `schur_vec_tol` to the `identification` command, for setting
    the tolerance level used to find nonstationary variables in Schur
    decomposition of the transition matrix. (!1794)
    - The `identification` command now supports optimal policy. (!1852)
    - Shock decomposition
    - The `fast_realtime` option of the `realtime_shock_decomposition` command
    now accepts a vector of integers, which runs the smoother for all the
    specified data vintages. (!1842)
    - Macro processor
    - Macroprocessor variables can be defined without a value (they are
    assigned integer 1). (preprocessor#43)
    - LaTeX and JSON outputs
    - New `nocommutativity` option to the `dynare` command. This option tells
    the preprocessor not to use the commutativity of addition and
    multiplication when looking for common subexpressions. As a consequence,
    when using this option, equations in various outputs (LaTeX, JSON…) will
    appear as the user entered them (without terms or factors swapped). Note
    that using this option may have a performance impact on the preprocessing
    stage, though it is likely to be small.
    (preprocessor@c9c36c037aa6d6c67f8fbb2236b03729a22e5878)
    - Model-local variables are now substituted out as part of the various
    model transformations. This means that they will no longer appear in
    LaTeX or in JSON files (for the latter, they are still visible with
    `json=parse` or `json=check`).
    - Compilation of the model (`use_dll` option)
    - Block decomposition (option `block` of `model`) can now be used in
    conjunction with the `use_dll` option.
    - The `use_dll` option can now directly be given to the `dynare` command.
    (a9fea692e9d1f4bcdd6a7347a9d17a8b36578a4a)
    - dseries classes
    - Routines for converting between time series frequencies (e.g. daily to
    monthly) have been added.
    - dseries now support bi-annual (dseries!37) and daily
    (dseries@1b897b371e3822306c196b59bf771388b719bebb) frequency data.
    - dseries can now import data from [DBnomics](https://db.nomics.world), via
    the DBnomics/mdbnomics> plugin (dseries#44). Note that this does not yet
    work under Octave (dbnomics/mdbnomics#10). For the time being, the
    DBnomics plugin must be installed separately.
    - Misc improvements
    - The `histval_file` and `initval_file` commands have been made more
    flexible and now have functionalities similar to the `datafile` option of
    the `estimation` command. (#1671)
    - When using the `loglinear` option, the output from Dynare now clearly
    shows that the results reported concern the log of the original variable.
    (!1796)
    - Options `block` and `bytecode` of `model` can now be used in conjunction
    with model-local variables (variables declared with a pound-sign `#`).
    (#1243)
    - The `model_info` command now prints the typology of endogenous variables
    for non-block decomposed models.
    - The total computing time of a run (in seconds) is now saved to `oo_.time`.
    (preprocessor@c79ae5d4bd6d130026fbb6f1dee69a046eab71b6)
    - New `notime` option to the `dynare` command, to disable the printing and
    the saving of the total computing time.
    (preprocessor@27a8b3b70ed93e45f17e9792d0a23ea781b2b4dc)
    - New `parallel_use_psexec` command-line Windows-specific option for
    parallel local clusters: when `true` (the default), use `psexec` to spawn
    processes; when `false`, use `start`. (!1843)
    - when compiling from source, it is no longer necessary to pass the
    `MATLAB_VERSION` version to the configure script; the version is now
    automatically detected.
    - Different versions of Dynare are now available as [Docker Containers](https://hub.docker.com/r/dynare/dynare).
    - Incompatible changes
    - :warning: Dynare will now generally save its output in the
    `MODFILENAME/Output` folder (or the `DIRNAME/Output` folder if the
    `dirname` option was specified) instead of the main directory. Most
    importantly, this concerns the `_results.mat` and the `_mode.mat` files.
    - :warning: The structure of the `oo_.planner_objective` field has been
    changed, in relation to the improvements to `evaluate_planner_objective`.
    - :warning: The preprocessor binary has been renamed to
    `dynare-preprocessor`, and is now located in a dedicated `preprocessor`
    subdirectory.
    - :warning: The `dynare` command no longer accepts `output=dynamic` and
    `output=first` (those options actually had no effect).
    - Platform requirements
    - :warning: The minimal required MATLAB version is now R2014a (8.3). (#1713)
    - :warning: The 32-bit support has been dropped for Windows. (#1713)
    - References
    - Andreasen et al. (2018): “The Pruned State-Space System for Non-Linear DSGE Models: Theory and Empirical Applications,” Review of Economic Studies, 85(1), pp. 1-49.
    - Angelini, Bokan, Christoffel, Ciccarelli and Zimic (2019): “Introducing ECB-BASE: The blueprint
    of the new ECB semi-structural model for the euro area”, ECB Working Paper no. 2315
    - Born and Pfeifer (2014): “Policy risk and the business cycle”, Journal of Monetary Economics, 68, 68-85.
    - Brayton, Davis and Tulip (2000): “Polynomial Adjustment Costs in FRB/US”, Unpublished manuscript.
    - Brayton, Laubach and Reifschneider (2014): “The FRB/US Model: A Tool for Macroeconomic Policy Analysis,” FEDS Notes. Washington: Board of Governors of the Federal Reserve System, https://doi.org/10.17016/2380-7172.0012
    - Cuba-Borda, Guerrieri, Iacoviello, and Zhong (2019): “Likelihood evaluation of models with occasionally binding constraints”, Journal of Applied Econometrics, 34(7), 1073-1085
    - Giovannini, Pfeiffer and Ratto (2021): “Efficient and robust inference of models with occasionally binding constraints,” Working Papers 2021-03, Joint Research Centre, European Commission
    - Guerrieri and Iacoviello (2015): “OccBin: A toolkit for solving dynamic models with occasionally binding constraints easily,” Journal of Monetary Economics, 70, 22–38.
    - Mutschler (2018): “Higher-order statistics for DSGE models”, Econometrics and Statistics, 6(C), 44-56.
    Dynare 4.6
    ----------
    - Stochastic simulations
    - The perturbation method is now available at an arbitrary approximation
    order. In other words, the `order` option of `stoch_simul` accepts an
    arbitrary positive integer (of course, up to some model-specific
    computational limit). (#217)
    - New option `filtered_theoretical_moments_grid` of `stoch_simul`, that
    supersedes `hp_ngrid`.
    - Estimation
    - Nonlinear estimation is now also available at an arbitrary approximation
    order. In other words, the `order` option of `estimation` accepts an
    arbitrary positive integer (of course, up to some model-specific
    computational limit). (#1673)
    - Various improvements to particle filters.
    - It is now possible to estimate models under optimal policy (see below).
    - Variance decomposition of observables now accounts for measurement error.
    (#1486)
    - New option `mh_tune_jscale` of `estimation` command for tuning the scale
    parameter of the proposal distribution of the Random Walk Metropolis
    Hastings.
    - Added debugging info when parameters take a `NaN` or `Inf` value. (!1538)
    - Option `mode_compute=1` is now available under Octave.
    - Perfect foresight and extended path
    - A significant speed improvement should be noted on large models (when
    neither `bytecode` nor `block` option is used). The stacked problem is
    now constructed using a dedicated machine-compiled library that greatly
    speeds up the process (in particular, the time spent in that step can
    become negligible when the `use_dll` option is used).
    - New options `print` and `noprint` of `perfect_foresight_solver` command.
    (#1647)
    - Option `stack_solve_algo=2` is now available under Octave.
    - Steady state
    - Option `solve_algo=7` is now available under Octave.
    - Optimal policy
    - The `ramsey_policy` command is now deprecated. It is superseded by
    successive calls to `ramsey_model`, `stoch_simul`, and
    `evaluate_planner_objective` (in this order). (#1678)
    - It is now possible to estimate a model under optimal policy (either
    Ramsey or discretionary) by running the `estimation` command after either
    `ramsey_model` or `discretionary_policy`. It is however not yet possible
    to estimate parameters that appear in the discount factor of the social
    planner. (#1173)
    - Discretionary policy returns a more informative error message when the
    objective has nonzero derivatives with respect to some variables. (!1468)
    - Identification (!1648, !1689, !1683, !1711)
    - Added minimal system identification check of *Komunjer and Ng (2011)*.
    - Added spectrum identification check of *Qu and Tkachenko (2012)*.
    - Identification is now also available for approximation orders 2 and 3
    with either analytical or numerical parameter derivatives. The relevant
    moments and spectrum are computed from the pruned state space system
    as in *Mutschler (2015)*.
    - All tests (moments, spectrum, minimal system, strength) can be turned
    off.
    - More numerical options can be changed by the user.
    - Improved printing and storage (same folder) of results.
    - Sensitivity analysis
    - New `diffuse_filter` option to the `dynare_sensitivity` command. (!1562)
    - Arbitrary expressions can now be passed for the interval boundaries in
    `irf_calibration` and `moment_calibration`. :warning: This breaks the
    previous syntax, requiring that the lower/upper bounds be separated by
    commas. (preprocessor#12)
    - Forecasting and smoothing
    - In `conditional_forecast_paths`, it is no longer required that all
    constrained paths be of the same length. There may now be a different
    number of controlled variables at each period. In that case, the order of
    declaration of endogenous controlled variables and of `controlled_varexo`
    matters: if the second endogenous variable is controlled for less periods
    than the first one, the second `controlled_varexo` isn't set for the last
    periods. (#699)
    - New option `parameter_set` to the `calib_smoother` command (#1477)
    - :warning: The results of `conditional_forecast` command is now saved in
    `oo_` (used to be in a file; see #1672)
    - Shock decomposition
    - Added `fast_realtime` option to real time shock decomposition (deactivated
    by default, runs the smoother only twice: once for the last in-sample and
    once for the last out-of-sample data point) (!1563) and (!1552)
    - New `diff`, `flip`, `max_nrows`, `plot_init_date` and `plot_end_date`
    options to `plot_shock_decomposition` (#1649, !1655,
    74e7c12d9d4f802cb687f6f1f122330fa5c4a2f4)
    - New `initial_decomposition_decomposition` command, for computing and
    plotting the decomposition of the effect of smoothed initial conditions of
    state variables (#1586)
    - New `squeeze_shock_decomposition` command, for removing decompositions of
    variables that are not of interest (!1655)
    - New `with_epilogue` option (common to `shock_decomposition`,
    `realtime_shock_decomposition` and `initial_condition_decomposition`)
    (!1688)
    - New `init2shocks` block to attribute initial conditions to shocks (#1650)
    - Macro processor
    - New object types: real (supersedes integers), boolean (distinct from
    integers), tuple, user-defined function.
    - New operators: various mathematical functions, set operations on arrays
    (union, intersection, difference, cartesian power and product), type
    checking and conversion.
    - Added support for comprehensions (*e.g.* the set containing the squares of
    all even numbers between 1 and 5 can be constructed with `[ i^2 for i in
    1:5 when mod(i,2) == 0]`).
    - User-defined functions can be declared using the `@#define` operator (*e.g.*
    `@#define f(x) = 2*x^2+3*x+5`).
    - `@#elseif`-clauses are now supported in conditional statements.
    - `@#for` loops can iterate over several variables at the same time (*e.g.*
    `@#for (i,j) in X`, where `X` is an array containing tuples of size 2).
    - Added the possibility to exclude some elements when iterating over `@#for`
    loops (*e.g.* `@#for i in 1:5 when mod(i,2) == 0` iterates over all even
    numbers between 1 and 5).
    - A `defined()` function allows testing whether macro variables have been
    defined.
    - Empty arrays (with the `[]` syntax) are now possible (#707).
    - Arrays of arrays are now supported.
    - New macro directives `@#echomacrovars` and `@#echomacrovars(save)` for
    displaying or saving the values of all macro-variables. (#1564)
    - Inline comments are now supported.
    - :warning: All division operations are now done with doubles (as opposed to
    integers). To achieve the old functionality, use the new `floor` operator.
    - :warning: Colon syntax used to require braces around it to create an array
    (*e.g.* `[1:3]` would create `[1,2,3]`). Now this is not necessary (`1:3`
    creates `[1,2,3]` while `[1:3]` would create `[[1,2,3]]`).
    - :warning: Previously, printing a boolean would print `1` or `0`. Now, it
    prints `true` or `false`. To achieve the old functionality, you must cast
    it to a real, *e.g.* `@{(real)(1!=0)}`.
    - LaTeX output
    - New command `write_latex_steady_state_model`. (#1496)
    - New option `planner_discount_latex_name` of `ramsey_model` and
    `discretionary_policy`. (#1686)
    - New command `model_local_variable` command for assigning a LaTeX name to
    model-local variables. (#563)
    - The `write_latex_static_model` and `write_latex_original_model` commands
    now support the `write_equation_tags` option. (#1431)
    - Compilation of the model (`use_dll` option) made easier and faster
    - Under Windows, it is no longer necessary to manually install the
    compiler, since the latter is now shipped by the Dynare installer.
    - Under macOS, the Dynare installer now automatically downloads and
    installs the compiler.
    - It is no longer necessary to configure MATLAB to let it know where the
    compiler is, since the compilation is now done by the preprocessor.
    - The compilation phase is now faster on large models (this has been
    achieved by disabling a few time-consuming and not-so-useful optimization
    passes otherwise done by the compiler).
    - New `compilation_setup` block for specifying a custom compiler or custom
    compilation flags.
    - Model, variables and parameters declaration
    - New syntax to declare model variables and parameters on-the-fly in the
    `model` block. To do this, simply follow the symbol name with a vertical
    line (`|`, pipe character) and either an `e`, an `x`, or a `p`. For
    example, to declare a parameter named `alpha` in the model block, you
    could write `alpha|p` directly in an equation where it appears.
    Similarly, to declare an endogenous variable `c` in the model block you
    could write `c|e`. (#1386)
    - New syntax to declare model variable and parameters on-the-fly in
    equation tags. In the tag, simply state the type of variable to be
    declared (`endogenous`, `exogenous`, or `parameter` followed by an equal
    sign and the variable name in single quotes. Hence, to declare a variable
    `c` as endogenous in an equation tag, you can type `[endogenous='c']`.
    (see 01d5a1308244ffb5a85e7f8f1d6a9e104b458715)
    - New `epilogue` block for computing output variables of interest that may
    not be necessarily defined in the model (*e.g.* various kinds of
    real/nominal shares or relative prices, or annualized variables out of a
    quarterly model).
    - Command-line options
    - Added the possibility to declare Dynare command-line options in the `.mod`
    file.
    - New option `nopreprocessoroutput` to disable printing of messages from
    the preprocessor. (#1390)
    - It is now possible to assign an arbitrary macro-expression to a
    macro-variable defined on the command-line, using the `-D` syntax.
    (#1696)
    - New option `linemacro` to revert to the old format of the
    macro-processed file (see below).
    - Preprocessor outputs and inputs
    - Added JSON output to the preprocessor. A representation of the model file
    and the whole content of the `.mod` file is saved in `.json` files.
    These JSON files can be easily parsed from any language (C++, Fortran,
    Python, Julia, MATLAB, Octave…). This new feature opens the possibility to
    develop alternative back-ends for the Dynare language.
    - :warning: Most files generated by the preprocessor are now grouped under
    two subdirectories. Assuming your file is `FILENAME.mod`, then M-files
    and MEX-files will be under `+FILENAME/`, while other output (JSON,
    LaTeX, source code for the MEX files) will be under `FILENAME/`.
    - The macro-generated output is now more readable (no more line numbers and
    empty lines). The old behaviour can be restored using the `linemacro`
    option (see above).
    - Ability to call the preprocessor by passing the `.mod` file as a string
    argument from the macOS or GNU/Linux command line. (#1509)
    - dseries classes
    - New functionalities and efficiency improvements.
    - Complete rewrite using the new `classdef` syntax and exploiting in place
    modifications when possible.
    - Integration of the `dates` classes within `dseries`.
    - Reporting classes
    - Automatically create titlepage with page numbers/page titles.
    - Allow for the removal of headers and footers from a given page.
    - Allow user to set page number.
    - Split up report output. Create new files for the preamble, the body of
    the report, and each individual page of the report.
    - The classes have been converted to the new `classdef` syntax.
    - Misc
    - External functions can be located in MATLAB/Octave namespaces. (#1639)
    - Improvements to the balanced growth path test that is performed after
    Dynare has detrended the model (given the trends on variables declared by
    the user): the default tolerance has been raised, and a different value
    can be set with new option `balanced_growth_test_tol` to the `model`
    block; as a consequence, failing the test is now an error again. (#1389)
    - New collection of MATLAB/Octave utilities to retrieve and alter objects:
    `get_irf`, `get_mean`, `get_shock_stderr_by_name`, `get_smooth`,
    `get_update`, `set_shock_stderr_value`. (!1686)
    - :warning: Previously, when some MEX files were missing, Dynare would
    automatically fall back to slower M-file functional alternative; this is
    no longer the case. It is however still possible to manually add these
    alternatives in the MATLAB/Octave path (they are located under
    `matlab/missing/mex`; this only applies to the `mjdgges`, `gensylv`,
    `A_times_B_kronecker_C`, `sparse_hessian_times_B_kronecker_C` and
    `local_state_space_iteration_2` DLLs).
    - References
    - Komunjer, I. and S. Ng (2011), “[Dynamic Identification of Dynamic
    Stochastic General Equilibrium
    Models](https://www.onlinelibrary.wiley.com/doi/abs/10.3982/ECTA8916),”
    *Econometrica*, 79(6), 1995–2032
    - Qu, Z. and D. Tkachenko (2012), “[Identification and frequency domain
    quasi‐maximum likelihood estimation of linearized dynamic stochastic
    general equilibrium
    models](https://onlinelibrary.wiley.com/doi/abs/10.3982/QE126),”
    *Quantitative Economics*, 3(1), 95–132
    - Mutschler, W. (2015), “[Identification of DSGE models—The effect of
    higher-order approximation and
    pruning](https://www.sciencedirect.com/science/article/pii/S0165188915000731),”
    *Journal of Economic Dynamics and Control*, 56, 34–54
    Dynare 4.5
    ----------
    - Ramsey policy
    + Added command `ramsey_model` that builds the expanded model with
    FOC conditions for the planner's problem but doesn't perform any
    computation. Useful to compute Ramsey policy in a perfect
    foresight model and for estimation,
    + `ramsey_policy` accepts multipliers in its variable list and
    displays results for them (#1355).
    - Perfect foresight models
    + New commands `perfect_foresight_setup` (for preparing the
    simulation) and `perfect_foresight_solver` (for computing it). The
    old `simul` command still exist and is now an alias for
    `perfect_foresight_setup` + `perfect_foresight_solver`. It is no
    longer possible to manipulate by hand the contents of
    `oo_.exo_simul` when using `simul`. People who want to do
    it must first call `perfect_foresight_setup`, then do the
    manipulations, then call `perfect_foresight_solver`,
    + By default, the perfect foresight solver will try a homotopy
    method if it fails to converge at the first try. The old behavior
    can be restored with the `no_homotopy` option,
    + New option `stack_solve_algo=7` that allows specifying a
    `solve_algo` solver for solving the model,
    + New option `solve_algo` that allows specifying a solver for
    solving the model when using `stack_solve_algo=7`,
    + New option `lmmcp` that solves the model via a Levenberg-Marquardt
    mixed complementarity problem (LMMCP) solver,
    + New option `robust_lin_solve` that triggers the use of a robust
    linear solver for the default `solve_algo=4`,
    + New options `tolf` and `tolx` to control termination criteria of
    solvers,
    + New option `endogenous_terminal_period` to `simul`,
    + Added the possibility to set the initial condition of the
    (stochastic) extended path simulations with the histval block.
    - Optimal simple rules
    + Saves the optimal value of parameters to `oo_.osr.optim_params`,
    + New block `osr_params_bounds` allows specifying bounds for the
    estimated parameters,
    + New option `opt_algo` allows selecting different optimizers while
    the new option `optim` allows specifying the optimizer options,
    + The `osr` command now saves the names, bounds, and indices for the
    estimated parameters as well as the indices and weights of the
    variables entering the objective function into `M_.osr`.
    - Forecasts and Smoothing
    + The smoother and forecasts take uncertainty about trends and means
    into account (#679),
    + Forecasts accounting for measurement error are now saved in fields
    of the form `HPDinf_ME` and `HPDsup_ME` (#853),
    + New fields `oo_.Smoother.Trend` and `oo_.Smoother.Constant` that
    save the trend and constant parts of the smoothed variables,
    + new field `oo_.Smoother.TrendCoeffs` that stores the trend
    coefficients.
    + Rolling window forecasts allowed in `estimation` command by
    passing a vector to `first_obs`,
    + The `calib_smoother` command now accepts the `loglinear`,
    `prefilter`, `first_obs` and `filter_decomposition` options.
    - Estimation
    + New options: `logdata`, `consider_all_endogenous`,
    `consider_only_observed`, `posterior_max_subsample_draws` (#567),
    `mh_conf_sig` (#598), `diffuse_kalman_tol` (!865), `dirname` (#910), `nodecomposition`
    + `load_mh_file` and `mh_recover` now try to load chain's proposal density (!1230),
    + New option `load_results_after_load_mh` that allows loading some
    posterior results from a previous run if no new MCMC draws are
    added (!1352),
    + New option `posterior_nograph` that suppresses the generation of
    graphs associated with Bayesian IRFs, posterior smoothed objects,
    and posterior forecasts,
    + Saves the posterior density at the mode in
    `oo_.posterior.optimization.log_density`,
    + The `filter_covariance` option now also works with posterior
    sampling like Metropolis-Hastings,
    + New option `no_posterior_kernel_density` to suppress computation
    of kernel density of posterior objects,
    + Recursive estimation and forecasting now provides the individual
    `oo_` structures for each sample in `oo_recursive_`,
    + The `trace_plot` command can now plot the posterior density,
    + New command `generate_trace_plots` allows generating all trace
    plots for one chain (!1239),
    + New commands `prior_function` and `posterior_function` that
    execute a user-defined function on parameter draws from the
    prior/posterior distribution (!871),
    + New option `huge_number` for replacement of infinite bounds with
    large number during `mode_compute`,
    + New option `posterior_sampling_method` allows selecting the new
    posterior sampling options:
    `tailored_random_block_metropolis_hastings` (Tailored randomized
    block (TaRB) Metropolis-Hastings), `slice` (Slice sampler),
    `independent_metropolis_hastings` (Independent
    Metropolis-Hastings),
    + New option `posterior_sampler_options` that allow controlling the
    options of the `posterior_sampling_method`; its `scale_file`-option
    pair allows loading the `_mh_scale.mat`-file storing the tuned
    scale factor from a previous run of `mode_compute=6` (!1223),
    + New option `raftery_lewis_diagnostics` that computes Raftery/Lewis
    (1992) convergence diagnostics,
    + New option `fast_kalman_filter` that provides fast Kalman filter
    using Chandrasekhar recursions as described in Ed Herbst (2015),
    + The `dsge_var` option now saves results at the posterior mode into
    `oo_.dsge_var`,
    + New option `smoothed_state_uncertainty` to provide the uncertainty
    estimate for the smoothed state estimate from the Kalman smoother (!1324),
    + New prior density: generalized Weibull distribution,
    + Option `mh_recover` now allows continuing a crashed chain at the
    last save mh-file,
    + New option `nonlinear_filter_initialization` for the
    `estimation` command. Controls the initial covariance matrix
    of the state variables in nonlinear filters.
    + The `conditional_variance_decomposition` option now displays
    output and stores it as a LaTeX-table when the `TeX` option is
    invoked,
    + The `use_calibration` to `estimated_params_init` now also works
    with ML,
    + Improved initial estimation checks.
    - Steady state
    + The default solver for finding the steady state is now a
    trust-region solver (can be triggered explicitly with option
    `solve_algo=4`),
    + New options `tolf` and `tolx` to control termination criteria of
    solver,
    + The debugging mode now provides the termination values in steady
    state finding.
    - Stochastic simulations
    + New options `nodecomposition`,
    + New option `bandpass_filter` to compute bandpass-filtered
    theoretical and simulated moments,
    + New option `one_sided_hp_filter` to compute one-sided HP-filtered
    simulated moments,
    + `stoch_simul` displays a simulated variance decomposition when
    simulated moments are requested,
    + `stoch_simul` saves skewness and kurtosis into respective fields
    of `oo_` when simulated moments have been requested,
    + `stoch_simul` saves the unconditional variance decomposition in
    `oo_.variance_decomposition`,
    + New option `dr_display_tol` that governs omission of small terms
    in display of decision rules,
    + The `stoch_simul` command now prints the displayed tables as LaTeX
    code when the new `TeX` option is enabled,
    + The `loglinear` option now works with lagged and leaded exogenous
    variables like news shocks,
    + New option `spectral_density` that allows displaying the spectral
    density of (filtered) endogenous variables,
    + New option `contemporaneous_correlation` that allows saving
    contemporaneous correlations in addition to the covariances.
    - Identification
    + New options `diffuse_filter` and `prior_trunc`,
    + The `identification` command now supports correlations via
    simulated moments,
    - Sensitivity analysis
    + New blocks `irf_calibration` and `moment_calibration`,
    + Outputs LaTeX tables if the new `TeX` option is used,
    + New option `relative_irf` to `irf_calibration` block.
    - Conditional forecast
    + Command `conditional_forecast` now takes into account `histval`
    block if present.
    - Shock decomposition
    + New option `colormap` to `shocks_decomposition` for controlling
    the color map used in the shocks decomposition graphs,
    + `shocks_decomposition` now accepts the `nograph` option,
    + New command `realtime_shock_decomposition` that for each period `T= [presample,...,nobs]`
    allows computing the:
    * realtime historical shock decomposition `Y(t|T)`, i.e. without observing data in `[T+1,...,nobs]`
    * forecast shock decomposition `Y(T+k|T)`
    * realtime conditional shock decomposition `Y(T+k|T+k)-Y(T+k|T)`
    + New block `shock_groups` that allows grouping shocks for the
    `shock_decomposition` and `realtime_shock_decomposition` commands,
    + New command `plot_shock_decomposition` that allows plotting the
    results from `shock_decomposition` and
    `realtime_shock_decomposition` for different vintages and shock
    groupings.
    - Macroprocessor
    + Can now pass a macro-variable to the `@#include` macro directive,
    + New preprocessor flag `-I`, macro directive `@#includepath`, and
    dynare config file block `[paths]` to pass a search path to the
    macroprocessor to be used for file inclusion via `@#include`.
    - Command line
    + New option `onlyclearglobals` (do not clear JIT compiled functions
    with recent versions of Matlab),
    + New option `minimal_workspace` to use fewer variables in the
    current workspace,
    + New option `params_derivs_order` allows limiting the order of the
    derivatives with respect to the parameters that are calculated by
    the preprocessor,
    + New command line option `mingw` to support the MinGW-w64 C/C++
    Compiler from TDM-GCC for `use_dll` (#1226).
    - dates/dseries/reporting classes
    + New methods `abs`, `cumprod` and `chain`,
    + New option `tableRowIndent` to `addTable`,
    + Reporting system revamped and made more efficient, dependency on
    matlab2tikz has been dropped.
    - Optimization algorithms
    + `mode_compute=2` Uses the simulated annealing as described by
    Corana et al. (1987),
    + `mode_compute=101` Uses SOLVEOPT as described by Kuntsevich and
    Kappel (1997),
    + `mode_compute=102` Uses `simulannealbnd` from Matlab's Global
    Optimization Toolbox (if available),
    + New option `silent_optimizer` to shut off output from mode
    computing/optimization,
    + New options `verbosity` and `SaveFiles` to control output and
    saving of files during mode computing/optimization.
    - LaTeX output
    + New command `write_latex_original_model`,
    + New option `write_equation_tags` to `write_latex_dynamic_model`
    that allows printing the specified equation tags to the generate
    LaTeX code (#477),
    + New command `write_latex_parameter_table` that writes the names and
    values of model parameters to a LaTeX table,
    + New command `write_latex_prior_table` that writes the descriptive
    statistics about the prior distribution to a LaTeX table,
    + New command `collect_latex_files` that creates one compilable LaTeX
    file containing all TeX-output.
    - Misc.
    + Provides 64bit preprocessor,
    + Introduces new path management to avoid conflicts with other
    toolboxes,
    + Full compatibility with Matlab 2014b's new graphic interface,
    + When using `model(linear)`, Dynare automatically checks
    whether the model is truly linear,
    + `usedll`: the `msvc` option now supports `normcdf`, `acosh`,
    `asinh`, and `atanh` (#1259),
    + New parallel option `NumberOfThreadsPerJob` for Windows nodes that
    sets the number of threads assigned to each remote MATLAB/Octave
    run (!1357),
    + Improved numerical performance of `schur_statespace_transformation` for very large models,
    + The `all_values_required` option now also works with `histval`,
    + Add missing `horizon` option to `ms_forecast`,
    + BVAR now saves the marginal data density in
    `oo_.bvar.log_marginal_data_density` and stores prior and
    posterior information in `oo_.bvar.prior` and
    `oo_.bvar.posterior`.
    This page documents the changes between Dynare versions (including the unstable
    one). For previous versions of Dynare, please read the dedicated frozen page on
    the [DynareWiki](http://www.dynare.org/DynareWiki/NewFeatures).
    Dynare 7 (unstable)
    -------------------
    - Method of moments now supports estimation with discretionary optimal policy (!2279)
    - Option values `solve_algo={6,7,8}` and `stack_solve_algo={2,3}` are now available without `block` nor `bytecode` (e14a49211067b27114d8173b16d4cb8f7595b0c3, aa263e6a2adc9414142551a01bbcc46abb6a3894)
    - More flexible syntax for specifying complementarity conditions (461c30fea8c296e88388f9775a2e92e674b0e3d2, 656c130036706849e7d08d9411b352b45a19eccb)
    - The complementarity condition is now specified between the associated equation and its closing semicolon, using the perpendicular symbol as a separator (the latter can be input either in UTF-8, as `⟂`, corresponding to Unicode codepoint U+27C2; or alternatively as pure ASCII, as `_|_`, *i.e.* a vertical bar enclosed within two underscores)
    - Both the lower and the upper bounds can be specified at the same time in a given complementarity condition
    - Arbitrary functions of parameters can appear in the bounds
    - The old syntax using the `mcp` equation tag is still supported but deprecated
    - Here is an example of an equation with an associated complementarity condition, using the new syntax:
    ```
    mu = 0 ⟂ 0 < i < 1+2*alpha;
    ```
    - New `dr_cycle_reduction_maxiter` option to the `stoch_simul`, `estimation` and `method_of_moments` command, to control the maximum number of iterations when the cycle reduction algorithm is used. (#1920, preprocessor!104, !2295)
    Dynare 6
    --------
    - The Sequential Monte Carlo sampler as described by Herbst and Schorfheide (2014) is now available under value `hssmc` for option `posterior_sampling_method`.
    - New routines for perfect foresight simulation with expectation errors. In such a scenario, agents make expectation errors in that the path they had anticipated in period 1 is not realized exactly. More precisely, in some simulation periods, they may receive new information that makes them revise their anticipation for the path of future shocks. Also, under this scenario, it is assumed that agents behave as under perfect foresight, *i.e.* they make their decisions as if there were no uncertainty and they knew exactly the path of future shocks; the new information that they may receive comes as a total surprise to them. Available under new `perfect_foresight_with_expectation_errors_setup` and `perfect_foresight_with_expectation_errors_solver` commands, and `shocks(learnt_in=…)`, `mshocks(learnt_in=…)` and `endval(learnt_in=…)` blocks.
    - New routines for IRF matching with stochastic simulations:
    - Both frequentist (as in Christiano, Eichenbaum, and Evans, 2005) and Bayesian (as in Christiano, Trabandt, and Walentin, 2010) IRF matching approaches are implemented. The core idea of IRF matching is to treat empirical impulse responses (*e.g.* given from an SVAR or local projection estimation) as data and select model parameters that align the model’s IRFs closely with their empirical counterparts. (!2191)
    - Available under option `mom_method = irf_matching` option to the `method_of_moments` command. (preprocessor!85)
    - New blocks `matched_irfs` and `matched_irfs_weights` for specifying the values and weights of the empirical impulse response functions. (preprocessor#124)
    - Pruning à la Andreasen et al. (2018) is now available at an arbitrary approximation order when performing stochastic simulations with `stoch_simul` (!2147), and at 3rd order when performing particle filtering. (!2071, particles!16, !2045)
    - New `log` option to the `var` statement. In addition to the endogenous variable(s) thus declared, this option also triggers the creation of auxiliary variable(s) equal to the log of the corresponding endogenous variable(s). For example, given a `var(log) y;` statement, two endogenous will be created (`y` and `LOG_y`), and an auxiliary equation linking the two will also be added (equal to `y = exp(LOG_y);`). Moreover, every occurrence of `y` in the model will be replaced by `exp(LOG_y)`. This option is, for example, useful for performing a loglinear approximation of some variable(s) in the context of a first-order stochastic approximation; or for ensuring that the variable(s) stay(s) in the definition domain of the function defining the steady state or the dynamic residuals when the nonlinear solver is used. (#349)
    - New model editing features (21a8a5794a83b5098cad0fe7beab93dcbe5ef6bf and 4db28998687b8845568e8750d99a1b45f0d6a94f)
    - Multiple `model` blocks are now supported (this was already working but not explicitly documented).
    - Multiple `estimated_params` blocks now concatenate their contents (instead of overwriting previous ones, which was the former undocumented behavior); an `overwrite` option has been added to provide the old behavior. (preprocessor@60ef6bbdbd2f95b7f8d52b1c10cf6bb9aa7773cc, preprocessor@ea44aa19d6dd2bf4c508ee081b2b6cae2a647250)
    - New `model_options` statement to set model options in a global fashion. (preprocessor#19)
    - New `model_remove` command to remove equations. (preprocessor@1f004584e9c8b2ea5fbda6dd5413b516ce956679)
    - New `model_replace` block to replace equations. (preprocessor@1f004584e9c8b2ea5fbda6dd5413b516ce956679)
    - New `var_remove` command to remove variables (or parameters). (preprocessor@342c4faf8d95169b7391507e703c88d76b38a243)
    - New `estimated_params_remove` block to remove estimated parameters. (preprocessor@5ffbc5bad31c306f561d673cde36d460cb5906c1)
    - Stochastic simulations
    - Performance improvements for simulation of the solution under perturbation and for particle filtering at higher order (⩾ 3). (#1802, !2071, particles!16, !2045)
    - Performance improvement for the first order perturbation solution using either cycle reduction (`dr=cycle_reduction` option) or logarithmic reduction (`dr=logarithmic_reduction`). (!2085, !2089)
    - New `nomodelsummary` option to the `stoch_simul` command, to suppress the printing of the model summary and the covariance of the exogenous shocks. (a00eb5e1ded61d2e0086f841203a5eec96e77931)
    - Estimation
    - A truncated normal distribution can now be specified as a prior, using the 3rd and 4th parameters of the `estimated_params` block as the bounds. (!2161)
    - New `conditional_likelihood` option to the `estimation` command. When the option is set, instead of using the Kalman filter to evaluate the likelihood, Dynare will evaluate the conditional likelihood based on the first-order reduced form of the model by assuming that the initial state vector is at its steady state. (b7693c32, f7694208)
    - New `additional_optimizer_steps` option to the `estimation` command to trigger the sequential execution of several optimizers when looking for the posterior mode. (!2178)
    - The `generate_trace_plots` command now allows comparing multiple chains. (baf8243f)
    - The Geweke and Raftery-Lewis convergence diagnostics will now also be displayed when `mh_nblocks>1`. (d0e99daf9ae84cf3a605fa4cf49d506d36b2bd95)
    - New `robust`, `TolGstep`, and `TolGstepRel` options to the optimizer available under `mode_compute=5` (“newrat”). (!2231)
    - New `brooks_gelman_plotrows` option to the `estimation` command for controlling the number of parameters to depict along the rows of the figures depicting the Brooks and Gelman (1998) convergence diagnostics. (!2146)
    - New `mh_init_scale_factor` option to the `estimation` command tor govern the overdispersion of the starting draws when initializing several Monte Carlo Markov Chains. This option supersedes the `mh_init_scale` option, which is now deprecated. (!2041)
    - Steady state computation
    - Steady state computation now accounts for occasionally-binding constraints of mixed-complementarity problems (as defined by `mcp` tags). (!1877)
    - New `tolx` option to the `steady` command for governing the termination based on the step tolerance. (preprocessor!60)
    - New `fsolve_options` option to the `steady` command for passing options to `fsolve` (in conjunction with the `solve_algo=0` option). (#1856)
    - New option `from_initval_to_endval` option to the `homotopy_setup` block, for easily computing homotopy from initial to terminal steady state (when the former is already computed). (2e3fbfc0408a360dd169c927a5ea38c89f6ff95c)
    - New `non_zero` option to `resid` command to restrict display to non-zero residuals. (preprocessor@9db21a231c5ab8f8aa26680ffecf3abfcf45bfab, 3d7299c1e490a6813de2b2cb450b738b4c7acdf9)
    - Perfect foresight
    - Significant performance improvement of the `stack_solve_algo=1` option to the `perfect_foresight_solver` command (Laffargue-Boucekkine-Juillard algorithm) when used in conjunction with options `block` and/or `bytecode` of the `model` block. (17b016d983be260aa09926809d1f3465307c58e2, be648d350b162152e999b8ffad830dce6b373190, 77a7d5c3dec67b6d9943fc23c11afbb1d0cfd431)
    - New `relative_to_initval` option to the `mshocks` block, to use the initial steady state as a basis for the multiplication when there is an `endval` block. (5145bd0708697230c7adeb23c8a0dabf37f4cb3f)
    - New `static_mfs` option to the `model` block (and to the `model_options` command), for controlling the minimum feedback set computation for the static model. It defaults to `0` (corresponding to the behavior in Dynare version 5).
    - Various improvements to homotopy
    - New `endval_steady` option to the `perfect_foresight_setup` command for computing the terminal steady state at the same time as the transitory dynamics (and new options `steady_solve_algo`, `steady_tolf`, `steady_tolx`, `steady_maxit` and `steady_markowitz` for controlling the steady state nonlinear solver). (d5a3a8e16af56af23c8eb27a693b2e67579bfde0)
    - New `homotopy_linearization_fallback` and `homotopy_marginal_linearization_fallback` options to the `perfect_foresight_solver` command to get an approximate solution when homotopy fails to go to 100%. (d5a3a8e16af56af23c8eb27a693b2e67579bfde0)
    - New `homotopy_initial_step_size`, `homotopy_min_step_size`, `homotopy_step_size_increase_success_count` and `homotopy_max_completion_share` options to the `perfect_foresight_solver` command to fine tune the homotopy behavior. (d5a3a8e16af56af23c8eb27a693b2e67579bfde0)
    - Purely backward, forward and static models are now supported by the homotopy procedure. (fe142b663ef34d26969191d2a096b08aecc1eb10)
    - New `homotopy_exclude_varexo` option to the `perfect_foresight_solver` command, for excluding exogenous variables from the homotopy procedure (only available since version 6.1) (9f65299d8a7e63de8432a73bffdc8899eb27e936)
    - The `stack_solve_algo=1` and `stack_solve_algo=6` options of the `perfect_foresight_solver` command were merged and are now synonymous. They both provide the Laffargue-Boucekkine-Juillard algorithm and work with and without the `block` and `bytecode` options of the `model` block. Using `stack_solve_algo=1` is now recommended, but `stack_solve_algo=6` is kept for backward compatibility. (06f665e231c1a66863612eb75802ff4f0b698c57)
    - OccBin
    - New `simul_reset_check_ahead_periods` option to the `occbin_setup` and `occbin_solver` commands, for resetting `check_ahead_periods` in each simulation period. (3765ef77)
    - new `simul_max_check_ahead_periods`, `likelihood_max_check_ahead_periods`, and `smoother_max_check_ahead_periods` options to the `occbin_setup` command, for truncating the number of periods for which agents check ahead which regime is present. (2f236048 and preprocessor@ed95a2ca )
    - Optimal policy
    - The `osr` command now accepts the `analytic_derivation` and `analytic_derivation_mode` options. (!2171)
    - The `evaluate_planner_objective` command now computes the unconditional welfare for higher-order approximations (⩾ 3). (!1962)
    - New `periods` and `drop` options to the `evaluate_planner_objective` command. (!1967)
    - Semi-structural models
    - New `pac_target_info` block for decomposing the PAC target into an arbitrary number of components. Furthermore, in the presence of such a block, the new `pac_target_nonstationary` operator can be used to select the non stationary part of the target (typically useful in the error correction term of the PAC equation). (b297353b06c9c35223500439c0bc63321675768b)
    - New `kind` option to the `pac_model` command. This option allows the user to select the formula used to compute the weights on the VAR companion matrix variables that are used to form PAC expectations. (b297353b06c9c35223500439c0bc63321675768b)
    - Performance improvement to `solve_algo=12` and `solve_algo=14`, which significantly accelerates the simulation of purely backward, forward and static models with the `perfect_foresight_solver` command and the routines for semi-structural models.
    - dseries classes
    - The `remove` and `remove_` methods now accept a list of variables (they would previously only accept a single variable). (dseries@b7ca9c3e, c02e5505)
    - New MATLAB/Octave command `dplot` to plot mathematical expressions generated from variables fetched from (different) dseries objects. (dseries@d6c8d039a2f828e5ea009d7181c8145d23932d69).
    - Misc
    - New `display_parameter_values` command to print the parameter values in the command window. (!2268)
    - New `collapse_figures_in_tabgroup` command to dock all figures. (!2263)
    - Performance improvement for the `use_dll` option of the `model` block. The preprocessor now takes advantage of parallelization when compiling the MEX files. (preprocessor@f6053df7545174885486a457a2253897a1ed4e27, preprocessor@5cf4729ab0790084af0b0a9e9a1062ddefff3401, preprocessor@dd66459e5f2e5c57ea25cb4a0e8709b22ff3195b, preprocessor@3dd40c6c42d82997972e90899da8632a747f5c90)
    - New mathematical primitives available: complementary error function (`erfc`), hyperbolic functions (`cosh`, `sinh`, `tanh`, `acosh`, `asinh`, `atanh`). (preprocessor#85, preprocessor@c0ea8d72038cd6c57e48aca26d2d29866848ae0a)
    - New `last_simulation_period` option to the `initval_file` command. (#1838, f5f47cd834049bd5111f23622fb2c68d0e6a619b, preprocessor@ddddf89d9cd8771bb80beb5c44efe53f4734b41f)
    - The `calib_smoother` command now accepts the `nobs` and `heteroskedastic_filter` options. (!2110)
    - Under the MATLAB Desktop, autocompletion is now available for the `dynare` command and other CLI commands (thanks to Eduard Benet Cerda from MathWorks). (36a2a41e357780d468582c78c4cbb738c5bb4b26)
    - Model debugging: The preprocessor now creates files for evaluating the left- and right-hand sides of model equations separately. For a model file called `ramst.mod`, you can call `[lhs,rhs]=ramst.debug.static_resid(y,x,params);` (for the static model) and `[lhs,rhs]=ramst.debug.dynamic_resid(y,x,params,steady_state);` (for the dynamic model), where `y` are the endogenous, `x` the exogenous, `params` the parameters, and `steady_state` is self-explanatory. NB: In the dynamic case, the vector `y` of endogenous must have $3n$ elements where $n$ is the number of endogenous (including auxiliary ones); the first $n$ elements correspond to the lagged values, the middle $n$ elements to the contemporaneous values, and the last $n$ elements to the lead values.
    - New interactive MATLAB/Octave command `search` for listing the equations in which given variable(s) appear (requires `json` command line option). (#1886)
    - The `model_info` command allows to print the block decomposition even if the `block` option of the `model` block has not been used, by specifying the new options `block_static` and `block_dynamic`.
    - There is now a default value for the global initialization file (`GlobalInitFile` option of the configuration file): the `global_init.m` in the Dynare configuration directory (typically `$HOME/.config/dynare/global_init.m` under Linux and macOS, and `c:\Users\USERNAME\AppData\Roaming\dynare\global_init.m` under Windows). (43b24facb)
    - For those compiling Dynare from source, the build system has been entirely rewritten and now uses Meson; as a consequence, it is now faster and easier to understand.
    - Incompatible changes
    - :warning: The default value of the `mode_compute` option of the `estimation` command has been changed to `5` (it was previously `4`).
    - :warning: When using block decomposition (with the `block` option of the `model` block), the option `mfs` now defaults to `1`. This setting should deliver better performance in perfect foresight simulation on most models.
    - :warning: The default location for the configuration file has changed. On Linux and macOS, the configuration file is now searched by default under `dynare/dynare.ini` in the configuration directories defined by the XDG specification (typically `$HOME/.config/dynare/dynare.ini` for the user-specific configuration and `/etc/xdg/dynare/dynare.ini` for the system-wide configuration, the former having precedence over the latter). Under Windows, the configuration file is now searched by default in `%APPDATA%\dynare\dynare.ini` (typically `c:\Users\USERNAME\AppData\Roaming\dynare\dynare.ini`). (43b24facb)
    - :warning: The information stored in `oo_.endo_simul, oo_.exo_simul`, and `oo_.irfs` is no longer duplicated in the base workspace. New helper functions `send_endogenous_variables_to_workspace`, `send_exogenous_variables_to_workspace`, and `send_irfs_to_workspace` have been introduced to explicitly request these outputs and to mimic the old behavior. (!2229)
    - :warning: The `dynare_sensitivity` command has been renamed `sensitivity`. The old name is still accepted but triggers a warning. (66bc9fd9c2707c787efae797e1976b7052159dc4)
    - :warning: The syntax `resid(1)` is no longer supported.
    - :warning: The `mode_compute=6` option to the `estimation` command now recursively updates the covariance matrix across the `NumberOfMh` Metropolis-Hastings runs, starting with the `InitialCovarianceMatrix` in the first run, instead of computing it from scratch in every Metropolis-Hastings run. (e5102eee)
    - :warning: The `periods` command has been removed. (1b47c8a5e551be046fba8b592d29f38e17099bfe)
    - :warning: The `Sigma_e` command has been removed. (e30314e75d0d4fa2e587079bdbeeb2e2e4af3383)
    - :warning: The `block` option of the `model` block no longer has an effect when used in conjunction with `stoch_simul` or `estimation` commands. (8f1a4cb3637fe4936ade877c88e6a120af2b5f24)
    - :warning: The Dynare++ executable is no longer distributed since almost all of its functionalities have been integrated inside Dynare for MATLAB/Octave. (c1922c3ad0a920d48fd32ec7026bfd5ebd55a824)
    - :warning: A macro-processor variable defined without a value (such as `@#define var` in the `.mod` file or alternatively `-Dvar` on the `dynare` command line) is now assigned the `true` logical value (it was previously assigned `1`). (preprocessor#43)
    - :warning: The `parallel_slave_open_mode` option of the `dynare` command has been renamed `parallel_follower_open_mode`. (preprocessor#86, !1976)
    - :warning: The `static` option of the `model_info` command is now deprecated and is replaced by the `block_static` option. (45450651 and preprocessor@2fd06811)
    - References:
    - Andreasen, Martin M., Jesús Fernández-Villaverde, and Juan Rubio-Ramírez (2018): “The Pruned State-Space System for Non-Linear DSGE Models: Theory and Empirical Applications,” *Review of Economic Studies*, 85(1), 1-49.
    - Brooks, Stephen P., and Andrew Gelman (1998): “General methods for monitoring convergence of iterative simulations,” *Journal of Computational and Graphical Statistics*, 7, pp. 434–455.
    - Christiano, Eichenbaum and Charles L. Evans (2005): “Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy,” *Journal of Political Economy*, 113(1), 1–45.
    - Christiano, Lawrence J., Mathias Trabandt, and Karl Walentin (2010): “DSGE Models for Monetary Policy Analysis,” In: *Handbook of Monetary Economics 3*, 285–367.
    - Herbst, Edward and Schorfheide, Frank (2014): "Sequential Monte Carlo Sampling for DSGE Models," *Journal of Applied Econometrics*, 29, 1073-1098.
    Dynare 5
    --------
    - New routines for simulating semi-structural (backward) models where
    some equations incorporate expectations based on future values of a VAR or
    trend component model. See the `var_model`, `trend_component_model` and
    `var_expectation_model` commands, and the `var_expectation` operator.
    - New routines for simulating semi-structural models where some equations are
    specified using the polynomial adjustment costs (PAC) approach, as in
    the FRB/US model (see Brayton et al., 2014 and Brayton et al., 2000) and the ECB-BASE model (see
    Angelini et al., 2019). The forward-looking terms of the PAC equations can
    be computed either using a satellite VAR model, or using full
    model-consistent expectations. See the `pac_model` command and the
    `pac_expectation` operator.
    - New Method of Moments toolbox that provides functionality to estimate
    parameters by (i) Generalized Method of Moments (GMM) up to 3rd-order pruned
    perturbation approximation or (ii) Simulated Method of Moments (SMM) up to
    any perturbation approximation order. The toolbox is inspired by
    replication codes accompanied to Andreasen et al. (2018), Born and Pfeifer
    (2014), and Mutschler (2018). It is accessible via the new
    `method_of_moments` command (!1750) and the new `matched_moments` block
    (preprocessor!23). Moreover, by default, a new non-linear least squares optimizer
    based on `lsqnonlin` is used for minimizing the method of moments objective function (available under `mode_compute=13`) (3615962a6107e211861d7461e2310ba2d1366369, b4f293bdf29f766dfb3314b48d2407716a7d7025). GMM can further benefit from using Gradient-based optimizers (using `analytic_standard_errors` option and/or passing `'Jacobian','on'` to the optimization options) as the Jacobian of the moment conditions can be computed analytically (a697002a4ee54b28551f3583757b7e0395121db6).
    - Implementation of the Occbin algorithm by Guerrieri and Iacoviello (2015) (#569,
    preprocessor#68), together with the inversion filter of Cuba-Borda,
    Guerrieri, Iacoviello, and Zhong (2019) and the piecewise Kalman filter of Giovannini,
    Pfeiffer, and Ratto (2021) (!1876). It is available via the new block
    `occbin_constraints` and the new commands `occbin_setup`, `occbin_solver`,
    `occbin_graph` and `occbin_write_regimes`.
    - Stochastic simulations
    - `stoch_simul` now supports theoretical moments at `order=3` with
    `pruning`. (dfc73576)
    - `stoch_simul` now reports second moments based on the pruned state space
    if the `pruning` option is set (in previous Dynare releases it would
    report a second-order accurate result based on the linear solution).
    (4cf9f7d1a7fa5dac8f91ff3344a6114c7f15959c)
    - Estimation
    - Performance optimization to pruned state space system and Lyapunov
    solvers. (!1749, !1745, #1737)
    - New option `mh_posterior_mode_estimation` to `estimation` to perform
    mode-finding by running the MCMC.
    (preprocessor@8d14e18cdbaced798c5330e00c7f5df488187cd6)
    - New heteroskedastic filter and smoother, where shocks standard error may
    *unexpectedly* change in every period. Triggered by
    `heteroskedastic_filter` option of the `estimation` command, and
    configured via the `heteroskedastic_shocks` block. (!1844, !1851)
    - New option `mh_tune_guess` for setting the initial value for
    `mh_tune_jscale`. (!1717)
    - New option `smoother_redux` to `estimation` and `calib_smoother` to
    trigger computing the Kalman smoother on a restricted state space instead
    of the full one. (!1859)
    - New block `filter_initial_state` for setting the initial condition of the
    Kalman filter/smoother. (7c8f4867)
    - New option `mh_initialize_from_previous_mcmc` to the `estimation` command
    that allows to pick initial values for a new MCMC from a previous one.
    (!1841)
    - The `xls_sheet` option of the `estimation` command now takes a quoted
    string as value. The former unquoted syntax is still accepted, but no
    longer recommended. (preprocessor#67)
    - New option `particle_filter_options` to set various particle filter options
    - Perfect foresight and extended path
    - New specialized algorithm in `perfect_foresight_solver` to deal with
    purely static problems. (27ee801a6755df021994acf061eb07d7feebf316)
    - The `debug` option of `perfect_foresight_solver` provides debugging
    information if the Jacobian is singular. (!1834)
    - In deterministic models (perfect foresight or extended path), exogenous
    variables with lead/lags are now replaced by auxiliary variables. This
    brings those models in line with the transformation done on stochastic
    models. However note that transformation is still not exactly the same
    between the two classes of models, because there is no need to take into
    account the Jensen inequality on the latter. In deterministic models,
    there is a one-to-one mapping between exogenous with lead/lags and
    auxiliaries, while in stochastic models, an auxiliary endogenous may
    correspond to a more complex nonlinear expression.
    (preprocessor@9bca65c7e525a2415fe46b27e8760208b22aba9d)
    - Optimal policy
    - Several improvements to `evaluate_planner_objective`:
    - it now applies a consistent approximation order when doing the
    computation;
    - in addition to the conditional welfare, it now also provides the
    unconditional welfare;
    - in a stochastic context, it now works with higher order approximation
    (only the conditional welfare is available for order ⩾ 3); (!1828,
    !1866)
    - it now also works in a perfect foresight context. (!1833)
    - `discretionary_policy` is now able to solve nonlinear models (it will
    then use their first-order approximation, and the analytical steady state
    must be provided). (!1792)
    - Identification
    - New option `schur_vec_tol` to the `identification` command, for setting
    the tolerance level used to find nonstationary variables in Schur
    decomposition of the transition matrix. (!1794)
    - The `identification` command now supports optimal policy. (!1852)
    - Shock decomposition
    - The `fast_realtime` option of the `realtime_shock_decomposition` command
    now accepts a vector of integers, which runs the smoother for all the
    specified data vintages. (!1842)
    - Macro processor
    - Macroprocessor variables can be defined without a value (they are
    assigned integer 1). (preprocessor#43)
    - LaTeX and JSON outputs
    - New `nocommutativity` option to the `dynare` command. This option tells
    the preprocessor not to use the commutativity of addition and
    multiplication when looking for common subexpressions. As a consequence,
    when using this option, equations in various outputs (LaTeX, JSON…) will
    appear as the user entered them (without terms or factors swapped). Note
    that using this option may have a performance impact on the preprocessing
    stage, though it is likely to be small.
    (preprocessor@c9c36c037aa6d6c67f8fbb2236b03729a22e5878)
    - Model-local variables are now substituted out as part of the various
    model transformations. This means that they will no longer appear in
    LaTeX or in JSON files (for the latter, they are still visible with
    `json=parse` or `json=check`).
    - Compilation of the model (`use_dll` option)
    - Block decomposition (option `block` of `model`) can now be used in
    conjunction with the `use_dll` option.
    - The `use_dll` option can now directly be given to the `dynare` command.
    (a9fea692e9d1f4bcdd6a7347a9d17a8b36578a4a)
    - dseries classes
    - Routines for converting between time series frequencies (e.g. daily to
    monthly) have been added.
    - dseries now support bi-annual (dseries!37) and daily
    (dseries@1b897b371e3822306c196b59bf771388b719bebb) frequency data.
    - dseries can now import data from [DBnomics](https://db.nomics.world), via
    the DBnomics/mdbnomics> plugin (dseries#44). Note that this does not yet
    work under Octave (dbnomics/mdbnomics#10). For the time being, the
    DBnomics plugin must be installed separately.
    - Misc improvements
    - The `histval_file` and `initval_file` commands have been made more
    flexible and now have functionalities similar to the `datafile` option of
    the `estimation` command. (#1671)
    - When using the `loglinear` option, the output from Dynare now clearly
    shows that the results reported concern the log of the original variable.
    (!1796)
    - Options `block` and `bytecode` of `model` can now be used in conjunction
    with model-local variables (variables declared with a pound-sign `#`).
    (#1243)
    - The `model_info` command now prints the typology of endogenous variables
    for non-block decomposed models.
    - The total computing time of a run (in seconds) is now saved to `oo_.time`.
    (preprocessor@c79ae5d4bd6d130026fbb6f1dee69a046eab71b6)
    - New `notime` option to the `dynare` command, to disable the printing and
    the saving of the total computing time.
    (preprocessor@27a8b3b70ed93e45f17e9792d0a23ea781b2b4dc)
    - New `parallel_use_psexec` command-line Windows-specific option for
    parallel local clusters: when `true` (the default), use `psexec` to spawn
    processes; when `false`, use `start`. (!1843)
    - when compiling from source, it is no longer necessary to pass the
    `MATLAB_VERSION` version to the configure script; the version is now
    automatically detected.
    - Different versions of Dynare are now available as [Docker Containers](https://hub.docker.com/r/dynare/dynare).
    - Incompatible changes
    - :warning: Dynare will now generally save its output in the
    `MODFILENAME/Output` folder (or the `DIRNAME/Output` folder if the
    `dirname` option was specified) instead of the main directory. Most
    importantly, this concerns the `_results.mat` and the `_mode.mat` files.
    - :warning: The structure of the `oo_.planner_objective` field has been
    changed, in relation to the improvements to `evaluate_planner_objective`.
    - :warning: The preprocessor binary has been renamed to
    `dynare-preprocessor`, and is now located in a dedicated `preprocessor`
    subdirectory.
    - :warning: The `dynare` command no longer accepts `output=dynamic` and
    `output=first` (those options actually had no effect).
    - Platform requirements
    - :warning: The minimal required MATLAB version is now R2014a (8.3). (#1713)
    - :warning: The 32-bit support has been dropped for Windows. (#1713)
    - References
    - Andreasen et al. (2018): “The Pruned State-Space System for Non-Linear DSGE Models: Theory and Empirical Applications,” Review of Economic Studies, 85(1), pp. 1-49.
    - Angelini, Bokan, Christoffel, Ciccarelli and Zimic (2019): “Introducing ECB-BASE: The blueprint
    of the new ECB semi-structural model for the euro area”, ECB Working Paper no. 2315
    - Born and Pfeifer (2014): “Policy risk and the business cycle”, Journal of Monetary Economics, 68, 68-85.
    - Brayton, Davis and Tulip (2000): “Polynomial Adjustment Costs in FRB/US”, Unpublished manuscript.
    - Brayton, Laubach and Reifschneider (2014): “The FRB/US Model: A Tool for Macroeconomic Policy Analysis,” FEDS Notes. Washington: Board of Governors of the Federal Reserve System, https://doi.org/10.17016/2380-7172.0012
    - Cuba-Borda, Guerrieri, Iacoviello, and Zhong (2019): “Likelihood evaluation of models with occasionally binding constraints”, Journal of Applied Econometrics, 34(7), 1073-1085
    - Giovannini, Pfeiffer and Ratto (2021): “Efficient and robust inference of models with occasionally binding constraints,” Working Papers 2021-03, Joint Research Centre, European Commission
    - Guerrieri and Iacoviello (2015): “OccBin: A toolkit for solving dynamic models with occasionally binding constraints easily,” Journal of Monetary Economics, 70, 22–38.
    - Mutschler (2018): “Higher-order statistics for DSGE models”, Econometrics and Statistics, 6(C), 44-56.
    Dynare 4.6
    ----------
    - Stochastic simulations
    - The perturbation method is now available at an arbitrary approximation
    order. In other words, the `order` option of `stoch_simul` accepts an
    arbitrary positive integer (of course, up to some model-specific
    computational limit). (#217)
    - New option `filtered_theoretical_moments_grid` of `stoch_simul`, that
    supersedes `hp_ngrid`.
    - Estimation
    - Nonlinear estimation is now also available at an arbitrary approximation
    order. In other words, the `order` option of `estimation` accepts an
    arbitrary positive integer (of course, up to some model-specific
    computational limit). (#1673)
    - Various improvements to particle filters.
    - It is now possible to estimate models under optimal policy (see below).
    - Variance decomposition of observables now accounts for measurement error.
    (#1486)
    - New option `mh_tune_jscale` of `estimation` command for tuning the scale
    parameter of the proposal distribution of the Random Walk Metropolis
    Hastings.
    - Added debugging info when parameters take a `NaN` or `Inf` value. (!1538)
    - Option `mode_compute=1` is now available under Octave.
    - Perfect foresight and extended path
    - A significant speed improvement should be noted on large models (when
    neither `bytecode` nor `block` option is used). The stacked problem is
    now constructed using a dedicated machine-compiled library that greatly
    speeds up the process (in particular, the time spent in that step can
    become negligible when the `use_dll` option is used).
    - New options `print` and `noprint` of `perfect_foresight_solver` command.
    (#1647)
    - Option `stack_solve_algo=2` is now available under Octave.
    - Steady state
    - Option `solve_algo=7` is now available under Octave.
    - Optimal policy
    - The `ramsey_policy` command is now deprecated. It is superseded by
    successive calls to `ramsey_model`, `stoch_simul`, and
    `evaluate_planner_objective` (in this order). (#1678)
    - It is now possible to estimate a model under optimal policy (either
    Ramsey or discretionary) by running the `estimation` command after either
    `ramsey_model` or `discretionary_policy`. It is however not yet possible
    to estimate parameters that appear in the discount factor of the social
    planner. (#1173)
    - Discretionary policy returns a more informative error message when the
    objective has nonzero derivatives with respect to some variables. (!1468)
    - Identification (!1648, !1689, !1683, !1711)
    - Added minimal system identification check of *Komunjer and Ng (2011)*.
    - Added spectrum identification check of *Qu and Tkachenko (2012)*.
    - Identification is now also available for approximation orders 2 and 3
    with either analytical or numerical parameter derivatives. The relevant
    moments and spectrum are computed from the pruned state space system
    as in *Mutschler (2015)*.
    - All tests (moments, spectrum, minimal system, strength) can be turned
    off.
    - More numerical options can be changed by the user.
    - Improved printing and storage (same folder) of results.
    - Sensitivity analysis
    - New `diffuse_filter` option to the `dynare_sensitivity` command. (!1562)
    - Arbitrary expressions can now be passed for the interval boundaries in
    `irf_calibration` and `moment_calibration`. :warning: This breaks the
    previous syntax, requiring that the lower/upper bounds be separated by
    commas. (preprocessor#12)
    - Forecasting and smoothing
    - In `conditional_forecast_paths`, it is no longer required that all
    constrained paths be of the same length. There may now be a different
    number of controlled variables at each period. In that case, the order of
    declaration of endogenous controlled variables and of `controlled_varexo`
    matters: if the second endogenous variable is controlled for less periods
    than the first one, the second `controlled_varexo` isn't set for the last
    periods. (#699)
    - New option `parameter_set` to the `calib_smoother` command (#1477)
    - :warning: The results of `conditional_forecast` command is now saved in
    `oo_` (used to be in a file; see #1672)
    - Shock decomposition
    - Added `fast_realtime` option to real time shock decomposition (deactivated
    by default, runs the smoother only twice: once for the last in-sample and
    once for the last out-of-sample data point) (!1563) and (!1552)
    - New `diff`, `flip`, `max_nrows`, `plot_init_date` and `plot_end_date`
    options to `plot_shock_decomposition` (#1649, !1655,
    74e7c12d9d4f802cb687f6f1f122330fa5c4a2f4)
    - New `initial_decomposition_decomposition` command, for computing and
    plotting the decomposition of the effect of smoothed initial conditions of
    state variables (#1586)
    - New `squeeze_shock_decomposition` command, for removing decompositions of
    variables that are not of interest (!1655)
    - New `with_epilogue` option (common to `shock_decomposition`,
    `realtime_shock_decomposition` and `initial_condition_decomposition`)
    (!1688)
    - New `init2shocks` block to attribute initial conditions to shocks (#1650)
    - Macro processor
    - New object types: real (supersedes integers), boolean (distinct from
    integers), tuple, user-defined function.
    - New operators: various mathematical functions, set operations on arrays
    (union, intersection, difference, cartesian power and product), type
    checking and conversion.
    - Added support for comprehensions (*e.g.* the set containing the squares of
    all even numbers between 1 and 5 can be constructed with `[ i^2 for i in
    1:5 when mod(i,2) == 0]`).
    - User-defined functions can be declared using the `@#define` operator (*e.g.*
    `@#define f(x) = 2*x^2+3*x+5`).
    - `@#elseif`-clauses are now supported in conditional statements.
    - `@#for` loops can iterate over several variables at the same time (*e.g.*
    `@#for (i,j) in X`, where `X` is an array containing tuples of size 2).
    - Added the possibility to exclude some elements when iterating over `@#for`
    loops (*e.g.* `@#for i in 1:5 when mod(i,2) == 0` iterates over all even
    numbers between 1 and 5).
    - A `defined()` function allows testing whether macro variables have been
    defined.
    - Empty arrays (with the `[]` syntax) are now possible (#707).
    - Arrays of arrays are now supported.
    - New macro directives `@#echomacrovars` and `@#echomacrovars(save)` for
    displaying or saving the values of all macro-variables. (#1564)
    - Inline comments are now supported.
    - :warning: All division operations are now done with doubles (as opposed to
    integers). To achieve the old functionality, use the new `floor` operator.
    - :warning: Colon syntax used to require braces around it to create an array
    (*e.g.* `[1:3]` would create `[1,2,3]`). Now this is not necessary (`1:3`
    creates `[1,2,3]` while `[1:3]` would create `[[1,2,3]]`).
    - :warning: Previously, printing a boolean would print `1` or `0`. Now, it
    prints `true` or `false`. To achieve the old functionality, you must cast
    it to a real, *e.g.* `@{(real)(1!=0)}`.
    - LaTeX output
    - New command `write_latex_steady_state_model`. (#1496)
    - New option `planner_discount_latex_name` of `ramsey_model` and
    `discretionary_policy`. (#1686)
    - New command `model_local_variable` command for assigning a LaTeX name to
    model-local variables. (#563)
    - The `write_latex_static_model` and `write_latex_original_model` commands
    now support the `write_equation_tags` option. (#1431)
    - Compilation of the model (`use_dll` option) made easier and faster
    - Under Windows, it is no longer necessary to manually install the
    compiler, since the latter is now shipped by the Dynare installer.
    - Under macOS, the Dynare installer now automatically downloads and
    installs the compiler.
    - It is no longer necessary to configure MATLAB to let it know where the
    compiler is, since the compilation is now done by the preprocessor.
    - The compilation phase is now faster on large models (this has been
    achieved by disabling a few time-consuming and not-so-useful optimization
    passes otherwise done by the compiler).
    - New `compilation_setup` block for specifying a custom compiler or custom
    compilation flags.
    - Model, variables and parameters declaration
    - New syntax to declare model variables and parameters on-the-fly in the
    `model` block. To do this, simply follow the symbol name with a vertical
    line (`|`, pipe character) and either an `e`, an `x`, or a `p`. For
    example, to declare a parameter named `alpha` in the model block, you
    could write `alpha|p` directly in an equation where it appears.
    Similarly, to declare an endogenous variable `c` in the model block you
    could write `c|e`. (#1386)
    - New syntax to declare model variable and parameters on-the-fly in
    equation tags. In the tag, simply state the type of variable to be
    declared (`endogenous`, `exogenous`, or `parameter` followed by an equal
    sign and the variable name in single quotes. Hence, to declare a variable
    `c` as endogenous in an equation tag, you can type `[endogenous='c']`.
    (see 01d5a1308244ffb5a85e7f8f1d6a9e104b458715)
    - New `epilogue` block for computing output variables of interest that may
    not be necessarily defined in the model (*e.g.* various kinds of
    real/nominal shares or relative prices, or annualized variables out of a
    quarterly model).
    - Command-line options
    - Added the possibility to declare Dynare command-line options in the `.mod`
    file.
    - New option `nopreprocessoroutput` to disable printing of messages from
    the preprocessor. (#1390)
    - It is now possible to assign an arbitrary macro-expression to a
    macro-variable defined on the command-line, using the `-D` syntax.
    (#1696)
    - New option `linemacro` to revert to the old format of the
    macro-processed file (see below).
    - Preprocessor outputs and inputs
    - Added JSON output to the preprocessor. A representation of the model file
    and the whole content of the `.mod` file is saved in `.json` files.
    These JSON files can be easily parsed from any language (C++, Fortran,
    Python, Julia, MATLAB, Octave…). This new feature opens the possibility to
    develop alternative back-ends for the Dynare language.
    - :warning: Most files generated by the preprocessor are now grouped under
    two subdirectories. Assuming your file is `FILENAME.mod`, then M-files
    and MEX-files will be under `+FILENAME/`, while other output (JSON,
    LaTeX, source code for the MEX files) will be under `FILENAME/`.
    - The macro-generated output is now more readable (no more line numbers and
    empty lines). The old behaviour can be restored using the `linemacro`
    option (see above).
    - Ability to call the preprocessor by passing the `.mod` file as a string
    argument from the macOS or GNU/Linux command line. (#1509)
    - dseries classes
    - New functionalities and efficiency improvements.
    - Complete rewrite using the new `classdef` syntax and exploiting in place
    modifications when possible.
    - Integration of the `dates` classes within `dseries`.
    - Reporting classes
    - Automatically create titlepage with page numbers/page titles.
    - Allow for the removal of headers and footers from a given page.
    - Allow user to set page number.
    - Split up report output. Create new files for the preamble, the body of
    the report, and each individual page of the report.
    - The classes have been converted to the new `classdef` syntax.
    - Misc
    - External functions can be located in MATLAB/Octave namespaces. (#1639)
    - Improvements to the balanced growth path test that is performed after
    Dynare has detrended the model (given the trends on variables declared by
    the user): the default tolerance has been raised, and a different value
    can be set with new option `balanced_growth_test_tol` to the `model`
    block; as a consequence, failing the test is now an error again. (#1389)
    - New collection of MATLAB/Octave utilities to retrieve and alter objects:
    `get_irf`, `get_mean`, `get_shock_stderr_by_name`, `get_smooth`,
    `get_update`, `set_shock_stderr_value`. (!1686)
    - :warning: Previously, when some MEX files were missing, Dynare would
    automatically fall back to slower M-file functional alternative; this is
    no longer the case. It is however still possible to manually add these
    alternatives in the MATLAB/Octave path (they are located under
    `matlab/missing/mex`; this only applies to the `mjdgges`, `gensylv`,
    `A_times_B_kronecker_C`, `sparse_hessian_times_B_kronecker_C` and
    `local_state_space_iteration_2` DLLs).
    - References
    - Komunjer, I. and S. Ng (2011), “[Dynamic Identification of Dynamic
    Stochastic General Equilibrium
    Models](https://www.onlinelibrary.wiley.com/doi/abs/10.3982/ECTA8916),”
    *Econometrica*, 79(6), 1995–2032
    - Qu, Z. and D. Tkachenko (2012), “[Identification and frequency domain
    quasi‐maximum likelihood estimation of linearized dynamic stochastic
    general equilibrium
    models](https://onlinelibrary.wiley.com/doi/abs/10.3982/QE126),”
    *Quantitative Economics*, 3(1), 95–132
    - Mutschler, W. (2015), “[Identification of DSGE models—The effect of
    higher-order approximation and
    pruning](https://www.sciencedirect.com/science/article/pii/S0165188915000731),”
    *Journal of Economic Dynamics and Control*, 56, 34–54
    Dynare 4.5
    ----------
    - Ramsey policy
    + Added command `ramsey_model` that builds the expanded model with
    FOC conditions for the planner's problem but doesn't perform any
    computation. Useful to compute Ramsey policy in a perfect
    foresight model and for estimation,
    + `ramsey_policy` accepts multipliers in its variable list and
    displays results for them (#1355).
    - Perfect foresight models
    + New commands `perfect_foresight_setup` (for preparing the
    simulation) and `perfect_foresight_solver` (for computing it). The
    old `simul` command still exist and is now an alias for
    `perfect_foresight_setup` + `perfect_foresight_solver`. It is no
    longer possible to manipulate by hand the contents of
    `oo_.exo_simul` when using `simul`. People who want to do
    it must first call `perfect_foresight_setup`, then do the
    manipulations, then call `perfect_foresight_solver`,
    + By default, the perfect foresight solver will try a homotopy
    method if it fails to converge at the first try. The old behavior
    can be restored with the `no_homotopy` option,
    + New option `stack_solve_algo=7` that allows specifying a
    `solve_algo` solver for solving the model,
    + New option `solve_algo` that allows specifying a solver for
    solving the model when using `stack_solve_algo=7`,
    + New option `lmmcp` that solves the model via a Levenberg-Marquardt
    mixed complementarity problem (LMMCP) solver,
    + New option `robust_lin_solve` that triggers the use of a robust
    linear solver for the default `solve_algo=4`,
    + New options `tolf` and `tolx` to control termination criteria of
    solvers,
    + New option `endogenous_terminal_period` to `simul`,
    + Added the possibility to set the initial condition of the
    (stochastic) extended path simulations with the histval block.
    - Optimal simple rules
    + Saves the optimal value of parameters to `oo_.osr.optim_params`,
    + New block `osr_params_bounds` allows specifying bounds for the
    estimated parameters,
    + New option `opt_algo` allows selecting different optimizers while
    the new option `optim` allows specifying the optimizer options,
    + The `osr` command now saves the names, bounds, and indices for the
    estimated parameters as well as the indices and weights of the
    variables entering the objective function into `M_.osr`.
    - Forecasts and Smoothing
    + The smoother and forecasts take uncertainty about trends and means
    into account (#679),
    + Forecasts accounting for measurement error are now saved in fields
    of the form `HPDinf_ME` and `HPDsup_ME` (#853),
    + New fields `oo_.Smoother.Trend` and `oo_.Smoother.Constant` that
    save the trend and constant parts of the smoothed variables,
    + new field `oo_.Smoother.TrendCoeffs` that stores the trend
    coefficients.
    + Rolling window forecasts allowed in `estimation` command by
    passing a vector to `first_obs`,
    + The `calib_smoother` command now accepts the `loglinear`,
    `prefilter`, `first_obs` and `filter_decomposition` options.
    - Estimation
    + New options: `logdata`, `consider_all_endogenous`,
    `consider_only_observed`, `posterior_max_subsample_draws` (#567),
    `mh_conf_sig` (#598), `diffuse_kalman_tol` (!865), `dirname` (#910), `nodecomposition`
    + `load_mh_file` and `mh_recover` now try to load chain's proposal density (!1230),
    + New option `load_results_after_load_mh` that allows loading some
    posterior results from a previous run if no new MCMC draws are
    added (!1352),
    + New option `posterior_nograph` that suppresses the generation of
    graphs associated with Bayesian IRFs, posterior smoothed objects,
    and posterior forecasts,
    + Saves the posterior density at the mode in
    `oo_.posterior.optimization.log_density`,
    + The `filter_covariance` option now also works with posterior
    sampling like Metropolis-Hastings,
    + New option `no_posterior_kernel_density` to suppress computation
    of kernel density of posterior objects,
    + Recursive estimation and forecasting now provides the individual
    `oo_` structures for each sample in `oo_recursive_`,
    + The `trace_plot` command can now plot the posterior density,
    + New command `generate_trace_plots` allows generating all trace
    plots for one chain (!1239),
    + New commands `prior_function` and `posterior_function` that
    execute a user-defined function on parameter draws from the
    prior/posterior distribution (!871),
    + New option `huge_number` for replacement of infinite bounds with
    large number during `mode_compute`,
    + New option `posterior_sampling_method` allows selecting the new
    posterior sampling options:
    `tailored_random_block_metropolis_hastings` (Tailored randomized
    block (TaRB) Metropolis-Hastings), `slice` (Slice sampler),
    `independent_metropolis_hastings` (Independent
    Metropolis-Hastings),
    + New option `posterior_sampler_options` that allow controlling the
    options of the `posterior_sampling_method`; its `scale_file`-option
    pair allows loading the `_mh_scale.mat`-file storing the tuned
    scale factor from a previous run of `mode_compute=6` (!1223),
    + New option `raftery_lewis_diagnostics` that computes Raftery/Lewis
    (1992) convergence diagnostics,
    + New option `fast_kalman_filter` that provides fast Kalman filter
    using Chandrasekhar recursions as described in Ed Herbst (2015),
    + The `dsge_var` option now saves results at the posterior mode into
    `oo_.dsge_var`,
    + New option `smoothed_state_uncertainty` to provide the uncertainty
    estimate for the smoothed state estimate from the Kalman smoother (!1324),
    + New prior density: generalized Weibull distribution,
    + Option `mh_recover` now allows continuing a crashed chain at the
    last save mh-file,
    + New option `nonlinear_filter_initialization` for the
    `estimation` command. Controls the initial covariance matrix
    of the state variables in nonlinear filters.
    + The `conditional_variance_decomposition` option now displays
    output and stores it as a LaTeX-table when the `TeX` option is
    invoked,
    + The `use_calibration` to `estimated_params_init` now also works
    with ML,
    + Improved initial estimation checks.
    - Steady state
    + The default solver for finding the steady state is now a
    trust-region solver (can be triggered explicitly with option
    `solve_algo=4`),
    + New options `tolf` and `tolx` to control termination criteria of
    solver,
    + The debugging mode now provides the termination values in steady
    state finding.
    - Stochastic simulations
    + New options `nodecomposition`,
    + New option `bandpass_filter` to compute bandpass-filtered
    theoretical and simulated moments,
    + New option `one_sided_hp_filter` to compute one-sided HP-filtered
    simulated moments,
    + `stoch_simul` displays a simulated variance decomposition when
    simulated moments are requested,
    + `stoch_simul` saves skewness and kurtosis into respective fields
    of `oo_` when simulated moments have been requested,
    + `stoch_simul` saves the unconditional variance decomposition in
    `oo_.variance_decomposition`,
    + New option `dr_display_tol` that governs omission of small terms
    in display of decision rules,
    + The `stoch_simul` command now prints the displayed tables as LaTeX
    code when the new `TeX` option is enabled,
    + The `loglinear` option now works with lagged and leaded exogenous
    variables like news shocks,
    + New option `spectral_density` that allows displaying the spectral
    density of (filtered) endogenous variables,
    + New option `contemporaneous_correlation` that allows saving
    contemporaneous correlations in addition to the covariances.
    - Identification
    + New options `diffuse_filter` and `prior_trunc`,
    + The `identification` command now supports correlations via
    simulated moments,
    - Sensitivity analysis
    + New blocks `irf_calibration` and `moment_calibration`,
    + Outputs LaTeX tables if the new `TeX` option is used,
    + New option `relative_irf` to `irf_calibration` block.
    - Conditional forecast
    + Command `conditional_forecast` now takes into account `histval`
    block if present.
    - Shock decomposition
    + New option `colormap` to `shocks_decomposition` for controlling
    the color map used in the shocks decomposition graphs,
    + `shocks_decomposition` now accepts the `nograph` option,
    + New command `realtime_shock_decomposition` that for each period `T= [presample,...,nobs]`
    allows computing the:
    * realtime historical shock decomposition `Y(t|T)`, i.e. without observing data in `[T+1,...,nobs]`
    * forecast shock decomposition `Y(T+k|T)`
    * realtime conditional shock decomposition `Y(T+k|T+k)-Y(T+k|T)`
    + New block `shock_groups` that allows grouping shocks for the
    `shock_decomposition` and `realtime_shock_decomposition` commands,
    + New command `plot_shock_decomposition` that allows plotting the
    results from `shock_decomposition` and
    `realtime_shock_decomposition` for different vintages and shock
    groupings.
    - Macroprocessor
    + Can now pass a macro-variable to the `@#include` macro directive,
    + New preprocessor flag `-I`, macro directive `@#includepath`, and
    dynare config file block `[paths]` to pass a search path to the
    macroprocessor to be used for file inclusion via `@#include`.
    - Command line
    + New option `onlyclearglobals` (do not clear JIT compiled functions
    with recent versions of Matlab),
    + New option `minimal_workspace` to use fewer variables in the
    current workspace,
    + New option `params_derivs_order` allows limiting the order of the
    derivatives with respect to the parameters that are calculated by
    the preprocessor,
    + New command line option `mingw` to support the MinGW-w64 C/C++
    Compiler from TDM-GCC for `use_dll` (#1226).
    - dates/dseries/reporting classes
    + New methods `abs`, `cumprod` and `chain`,
    + New option `tableRowIndent` to `addTable`,
    + Reporting system revamped and made more efficient, dependency on
    matlab2tikz has been dropped.
    - Optimization algorithms
    + `mode_compute=2` Uses the simulated annealing as described by
    Corana et al. (1987),
    + `mode_compute=101` Uses SOLVEOPT as described by Kuntsevich and
    Kappel (1997),
    + `mode_compute=102` Uses `simulannealbnd` from Matlab's Global
    Optimization Toolbox (if available),
    + New option `silent_optimizer` to shut off output from mode
    computing/optimization,
    + New options `verbosity` and `SaveFiles` to control output and
    saving of files during mode computing/optimization.
    - LaTeX output
    + New command `write_latex_original_model`,
    + New option `write_equation_tags` to `write_latex_dynamic_model`
    that allows printing the specified equation tags to the generate
    LaTeX code (#477),
    + New command `write_latex_parameter_table` that writes the names and
    values of model parameters to a LaTeX table,
    + New command `write_latex_prior_table` that writes the descriptive
    statistics about the prior distribution to a LaTeX table,
    + New command `collect_latex_files` that creates one compilable LaTeX
    file containing all TeX-output.
    - Misc.
    + Provides 64bit preprocessor,
    + Introduces new path management to avoid conflicts with other
    toolboxes,
    + Full compatibility with Matlab 2014b's new graphic interface,
    + When using `model(linear)`, Dynare automatically checks
    whether the model is truly linear,
    + `usedll`: the `msvc` option now supports `normcdf`, `acosh`,
    `asinh`, and `atanh` (#1259),
    + New parallel option `NumberOfThreadsPerJob` for Windows nodes that
    sets the number of threads assigned to each remote MATLAB/Octave
    run (!1357),
    + Improved numerical performance of `schur_statespace_transformation` for very large models,
    + The `all_values_required` option now also works with `histval`,
    + Add missing `horizon` option to `ms_forecast`,
    + BVAR now saves the marginal data density in
    `oo_.bvar.log_marginal_data_density` and stores prior and
    posterior information in `oo_.bvar.prior` and
    `oo_.bvar.posterior`.