Unverified Commit 047c4894 authored by Sébastien Villemot's avatar Sébastien Villemot
Browse files

Merge branch 'NK_baseline' of git.dynare.org:JohannesPfeifer/dynare

Ref. !2027
parents 35c7f2d0 ab6b6425
...@@ -2,14 +2,14 @@ function [ys,params,check] = NK_baseline_steadystate(ys,exo,M_,options_) ...@@ -2,14 +2,14 @@ function [ys,params,check] = NK_baseline_steadystate(ys,exo,M_,options_)
% function [ys,params,check] = NK_baseline_steadystate(ys,exo,M_,options_) % function [ys,params,check] = NK_baseline_steadystate(ys,exo,M_,options_)
% computes the steady state for the NK_baseline.mod and uses a numerical % computes the steady state for the NK_baseline.mod and uses a numerical
% solver to do so % solver to do so
% Inputs: % Inputs:
% - ys [vector] vector of initial values for the steady state of % - ys [vector] vector of initial values for the steady state of
% the endogenous variables % the endogenous variables
% - exo [vector] vector of values for the exogenous variables % - exo [vector] vector of values for the exogenous variables
% - M_ [structure] Dynare model structure % - M_ [structure] Dynare model structure
% - options [structure] Dynare options structure % - options [structure] Dynare options structure
% %
% Output: % Output:
% - ys [vector] vector of steady state values for the the endogenous variables % - ys [vector] vector of steady state values for the the endogenous variables
% - params [vector] vector of parameter values % - params [vector] vector of parameter values
% - check [scalar] set to 0 if steady state computation worked and to % - check [scalar] set to 0 if steady state computation worked and to
...@@ -35,8 +35,8 @@ function [ys,params,check] = NK_baseline_steadystate(ys,exo,M_,options_) ...@@ -35,8 +35,8 @@ function [ys,params,check] = NK_baseline_steadystate(ys,exo,M_,options_)
% read out parameters to access them with their name % read out parameters to access them with their name
NumberOfParameters = M_.param_nbr; NumberOfParameters = M_.param_nbr;
for ii = 1:NumberOfParameters for ii = 1:NumberOfParameters
paramname = M_.param_names{ii}; paramname = M_.param_names{ii};
eval([ paramname ' = M_.params(' int2str(ii) ');']); eval([ paramname ' = M_.params(' int2str(ii) ');']);
end end
% initialize indicator % initialize indicator
check = 0; check = 0;
...@@ -65,6 +65,7 @@ Lambdax=mu_z; ...@@ -65,6 +65,7 @@ Lambdax=mu_z;
%set the parameter gammma1 %set the parameter gammma1
gammma1=mu_z*mu_I/betta-(1-delta); gammma1=mu_z*mu_I/betta-(1-delta);
if gammma1<0 % parameter violates restriction; Preventing this cannot be implemented via prior restriction as it is a composite of different parameters and the valid prior region has unknown form if gammma1<0 % parameter violates restriction; Preventing this cannot be implemented via prior restriction as it is a composite of different parameters and the valid prior region has unknown form
params=M_.params;
check=1; %set failure indicator check=1; %set failure indicator
return; %return without updating steady states return; %return without updating steady states
end end
...@@ -86,13 +87,20 @@ vp=(1-thetap)/(1-thetap*PI^((1-chi)*epsilon))*PIstar^(-epsilon); ...@@ -86,13 +87,20 @@ vp=(1-thetap)/(1-thetap*PI^((1-chi)*epsilon))*PIstar^(-epsilon);
vw=(1-thetaw)/(1-thetaw*PI^((1-chiw)*eta)*mu_z^eta)*PIstarw^(-eta); vw=(1-thetaw)/(1-thetaw*PI^((1-chiw)*eta)*mu_z^eta)*PIstarw^(-eta);
tempvaromega=alppha/(1-alppha)*w/r*mu_z*mu_I; tempvaromega=alppha/(1-alppha)*w/r*mu_z*mu_I;
[ld,fval,exitflag]=fzero(@(ld)(1-betta*thetaw*mu_z^(eta-1)*PI^(-(1-chiw)*(1-eta)))/(1-betta*thetaw*mu_z^(eta*(1+gammma))*PI^(eta*(1-chiw)*(1+gammma)))... try
-(eta-1)/eta*wstar/(varpsi*PIstarw^(-eta*gammma)*ld^gammma)*((1-h*mu_z^(-1))^(-1)-betta*h*(mu_z-h)^(-1))*... %proper error handling for cases for infeasible initial value, which would result in error instead of valid exitflag
((mu_A*mu_z^(-1)*vp^(-1)*tempvaromega^alppha-tempvaromega*(1-(1-delta)*(mu_z*mu_I)^(-1)))*ld-vp^(-1)*Phi)^(-1),0.25,options); [ld,fval,exitflag]=fzero(@(ld)(1-betta*thetaw*mu_z^(eta-1)*PI^(-(1-chiw)*(1-eta)))/(1-betta*thetaw*mu_z^(eta*(1+gammma))*PI^(eta*(1-chiw)*(1+gammma)))...
-(eta-1)/eta*wstar/(varpsi*PIstarw^(-eta*gammma)*ld^gammma)*((1-h*mu_z^(-1))^(-1)-betta*h*(mu_z-h)^(-1))*...
((mu_A*mu_z^(-1)*vp^(-1)*tempvaromega^alppha-tempvaromega*(1-(1-delta)*(mu_z*mu_I)^(-1)))*ld-vp^(-1)*Phi)^(-1),0.25,options);
catch
exitflag = 0;
end
if exitflag <1 if exitflag <1
%indicate the SS computation was not sucessful; this would also be detected by Dynare %indicate the SS computation was not sucessful; this would also be detected by Dynare
%setting the indicator here shows how to use this functionality to %setting the indicator here shows how to use this functionality to
%filter out parameter draws %filter out parameter draws
params=M_.params;
check=1; %set failure indicator check=1; %set failure indicator
return; %return without updating steady states return; %return without updating steady states
end end
...@@ -115,11 +123,11 @@ g2=epsilon/(epsilon-1)*g1; ...@@ -115,11 +123,11 @@ g2=epsilon/(epsilon-1)*g1;
params=NaN(NumberOfParameters,1); params=NaN(NumberOfParameters,1);
for iter = 1:length(M_.params) %update parameters set in the file for iter = 1:length(M_.params) %update parameters set in the file
eval([ 'params(' num2str(iter) ') = ' M_.param_names{iter} ';' ]) eval([ 'params(' num2str(iter) ') = ' M_.param_names{iter} ';' ])
end end
NumberOfEndogenousVariables = M_.orig_endo_nbr; %auxiliary variables are set automatically NumberOfEndogenousVariables = M_.orig_endo_nbr; %auxiliary variables are set automatically
for ii = 1:NumberOfEndogenousVariables for ii = 1:NumberOfEndogenousVariables
varname = M_.endo_names{ii}; varname = M_.endo_names{ii};
eval(['ys(' int2str(ii) ') = ' varname ';']); eval(['ys(' int2str(ii) ') = ' varname ';']);
end end
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