diff --git a/tests/external_function/benchmark.mod b/tests/external_function/benchmark.mod
new file mode 100644
index 0000000000000000000000000000000000000000..8076fa13a27e602f78df29bec35b334e0b250364
--- /dev/null
+++ b/tests/external_function/benchmark.mod
@@ -0,0 +1,48 @@
+/* This file has no external function, but is used as a benchmark against with
+   the other tests are compared.
+   It is almost the same as example1.mod, except that lagged capital is squared in the
+   law of motion of capital (in order to have a non-zero Hessian of the
+   external function) */
+var y, c, k, a, h, b;
+varexo e, u;
+
+parameters beta, rho, alpha, delta, theta, psi, tau;
+
+alpha = 0.36;
+rho   = 0.95;
+tau   = 0.025;
+beta  = 0.99;
+delta = 0.025;
+psi   = 0;
+theta = 2.95;
+
+phi   = 0.1;
+
+model;
+c*theta*h^(1+psi)=(1-alpha)*y;
+k = beta*(((exp(b)*c)/(exp(b(+1))*c(+1)))
+    *(exp(b(+1))*alpha*y(+1)+(1-delta)*k));
+y = exp(a)*(k(-1)^alpha)*(h^(1-alpha));
+k = exp(b)*(y-c)+(1-delta)*k(-1)^2;
+a = rho*a(-1)+tau*b(-1) + e;
+b = tau*a(-1)+rho*b(-1) + u;
+end;
+
+initval;
+y = 1.08068253095672;
+c = 0.80359242014163;
+h = 0.29175631001732;
+k = 11.08360443260358;
+a = 0;
+b = 0;
+e = 0;
+u = 0;
+end;
+
+shocks;
+var e; stderr 0.009;
+var u; stderr 0.009;
+var e, u = phi*0.009*0.009;
+end;
+
+stoch_simul;