Commit 2c8c1202 authored by Johannes Pfeifer 's avatar Johannes Pfeifer

Replace various references to deprecated ramsey_policy by ramsey_model

parent 055710c9
......@@ -8127,30 +8127,25 @@ Optimal policy
==============
Dynare has tools to compute optimal policies for various types of
objectives. ``ramsey_model`` computes automatically the First Order
Conditions (FOC) of a model, given the ``planner_objective``. You can
then use other standard commands to solve, estimate or simulate this
new, expanded model.
Alternatively, you can either solve for optimal policy under
commitment with ``ramsey_policy``, for optimal policy under discretion
with ``discretionary_policy`` or for optimal simple rule with ``osr``
objectives. You can either solve for optimal policy under
commitment with ``ramsey_model``, for optimal policy under discretion
with ``discretionary_policy`` or for optimal simple rules with ``osr``
(also implying commitment).
.. command:: planner_objective MODEL_EXPRESSION ;
|br| This command declares the policy maker objective, for use
with ``ramsey_policy`` or ``discretionary_policy``.
with ``ramsey_model`` or ``discretionary_policy``.
You need to give the one-period objective, not the discounted
lifetime objective. The discount factor is given by the
``planner_discount`` option of ``ramsey_policy`` and
``planner_discount`` option of ``ramsey_model`` and
``discretionary_policy``. The objective function can only contain
current endogenous variables and no exogenous ones. This
limitation is easily circumvented by defining an appropriate
auxiliary variable in the model.
With ``ramsey_policy``, you are not limited to quadratic
With ``ramsey_model``, you are not limited to quadratic
objectives: you can give any arbitrary nonlinear expression.
With ``discretionary_policy``, the objective function must be quadratic.
......@@ -8354,7 +8349,7 @@ Optimal policy under discretion
*Options*
This command accepts the same options than ``ramsey_policy``, plus:
This command accepts the same options as ``ramsey_policy``, plus:
.. option:: discretionary_tol = NON-NEGATIVE DOUBLE
......
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