NewFeatures.md

@@ -35,12 +35,12 @@ Dynare 5
 
  - New routines for simulating semi-structural (backward) models where
    some equations incorporate expectations based on future values of a VAR or
-   VECM model. See the `var_model`, `trend_component_model` and
+   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 the ECB-BASE model (see
+   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
@@ -260,6 +260,7 @@ Dynare 5
     - 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+    - Brayton, Davis and Tulip (2000): "Polynomial Adjustment Costs in FRB/US", Unpublished manuscript.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