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Marco Ratto
dynare
Commits
0e9b8c33
Commit
0e9b8c33
authored
Dec 20, 2020
by
Johannes Pfeifer
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Document changes to discretionary_policy
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9728a528
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doc/manual/source/the-model-file.rst
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0e9b8c33
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@@ -8937,11 +8937,6 @@ Optimal policy under commitment (Ramsey)
optimal policy for the first time and committing not to
re-optimize in the future.
Because it entails computing at least a second order approximation, the
computation of the planner objective value is skipped with a message when
the model is too large (more than 180 state variables, including lagged
Lagrange multipliers).
.. command:: ramsey_policy [VARIABLE_NAME...];
ramsey_policy (OPTIONS...) [VARIABLE_NAME...];
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@@ -9026,8 +9021,9 @@ Optimal policy under discretion
under discretion. The algorithm implemented is essentially an LQ
solver, and is described by *Dennis (2007)*.
You should ensure that your model is linear and your objective is
quadratic. Also, you should set the ``linear`` option of the
You must ensure that your objective is quadratic. Regarding the model, it must
either be linear or solved at first order with an analytical steady state provided.
In the first case, you should set the ``linear`` option of the
``model`` block.
It is possible to use the :comm:`estimation` command after the
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