diff --git a/meson.build b/meson.build
index 34c892fb7b7c25b3ed1f0ff9331520ce855ba9c6..65d6775600c9d236608436edf9375e53dd629560 100644
--- a/meson.build
+++ b/meson.build
@@ -912,42 +912,37 @@ mod_and_m_tests = [
'estimation/method_of_moments/AFVRR/AFVRR_data.mat',
'estimation/method_of_moments/AFVRR/AFVRR_steady_helper.m' ] },
{ 'test' : [ 'estimation/method_of_moments/CET/cet_imh.mod' ],
- 'extra' : [ 'estimation/method_of_moments/CET/RBC_MoM_common.inc',
- 'estimation/method_of_moments/CET/cet_matched_irfs_no_interface_workaround.m',
- 'estimation/method_of_moments/CET/cet_data.mat',
+ 'extra' : [ 'estimation/method_of_moments/CET/cet_data.mat',
'estimation/method_of_moments/CET/cet_irf_matching_file.m',
+ 'estimation/method_of_moments/CET/cet_matched_irfs_no_interface_workaround.m',
'estimation/method_of_moments/CET/cet_model.inc',
'estimation/method_of_moments/CET/cet_original_mode.mat',
'estimation/method_of_moments/CET/cet_steady_helper.m' ] },
{ 'test' : [ 'estimation/method_of_moments/CET/cet_mle.mod' ],
- 'extra' : [ 'estimation/method_of_moments/CET/RBC_MoM_common.inc',
- 'estimation/method_of_moments/CET/cet_matched_irfs_no_interface_workaround.m',
- 'estimation/method_of_moments/CET/cet_data.mat',
+ 'extra' : [ 'estimation/method_of_moments/CET/cet_data.mat',
'estimation/method_of_moments/CET/cet_irf_matching_file.m',
+ 'estimation/method_of_moments/CET/cet_matched_irfs_no_interface_workaround.m',
'estimation/method_of_moments/CET/cet_model.inc',
'estimation/method_of_moments/CET/cet_original_mode.mat',
'estimation/method_of_moments/CET/cet_steady_helper.m' ] },
{ 'test' : [ 'estimation/method_of_moments/CET/cet_rwmh.mod' ],
- 'extra' : [ 'estimation/method_of_moments/CET/RBC_MoM_common.inc',
- 'estimation/method_of_moments/CET/cet_matched_irfs_no_interface_workaround.m',
- 'estimation/method_of_moments/CET/cet_data.mat',
+ 'extra' : [ 'estimation/method_of_moments/CET/cet_data.mat',
'estimation/method_of_moments/CET/cet_irf_matching_file.m',
+ 'estimation/method_of_moments/CET/cet_matched_irfs_no_interface_workaround.m',
'estimation/method_of_moments/CET/cet_model.inc',
'estimation/method_of_moments/CET/cet_original_mode.mat',
'estimation/method_of_moments/CET/cet_steady_helper.m' ] },
{ 'test' : [ 'estimation/method_of_moments/CET/cet_slice.mod' ],
- 'extra' : [ 'estimation/method_of_moments/CET/RBC_MoM_common.inc',
- 'estimation/method_of_moments/CET/cet_matched_irfs_no_interface_workaround.m',
- 'estimation/method_of_moments/CET/cet_data.mat',
+ 'extra' : [ 'estimation/method_of_moments/CET/cet_data.mat',
'estimation/method_of_moments/CET/cet_irf_matching_file.m',
+ 'estimation/method_of_moments/CET/cet_matched_irfs_no_interface_workaround.m',
'estimation/method_of_moments/CET/cet_model.inc',
'estimation/method_of_moments/CET/cet_original_mode.mat',
'estimation/method_of_moments/CET/cet_steady_helper.m' ] },
{ 'test' : [ 'estimation/method_of_moments/CET/cet_tarb.mod' ],
- 'extra' : [ 'estimation/method_of_moments/CET/RBC_MoM_common.inc',
- 'estimation/method_of_moments/CET/cet_matched_irfs_no_interface_workaround.m',
- 'estimation/method_of_moments/CET/cet_data.mat',
+ 'extra' : [ 'estimation/method_of_moments/CET/cet_data.mat',
'estimation/method_of_moments/CET/cet_irf_matching_file.m',
+ 'estimation/method_of_moments/CET/cet_matched_irfs_no_interface_workaround.m',
'estimation/method_of_moments/CET/cet_model.inc',
'estimation/method_of_moments/CET/cet_original_mode.mat',
'estimation/method_of_moments/CET/cet_steady_helper.m' ] },
diff --git a/tests/estimation/method_of_moments/CET/cet_imh.mod b/tests/estimation/method_of_moments/CET/cet_imh.mod
index 6aa0c4705a0746e00d24a709c9aa2c1759e9d53c..31897499c50d2ec204869b7eb88237bc64f11b4f 100644
--- a/tests/estimation/method_of_moments/CET/cet_imh.mod
+++ b/tests/estimation/method_of_moments/CET/cet_imh.mod
@@ -1,7 +1,9 @@
+% -------------------------------------------------------------------------
% Functionality testing of Bayesian IRF matching with
% - independent Metropolis-Hastings
% - >1 MCMC chains
-% =========================================================================
+% -------------------------------------------------------------------------
+
% Copyright © 2023 Dynare Team
%
% This file is part of Dynare.
@@ -18,7 +20,7 @@
%
% You should have received a copy of the GNU General Public License
% along with Dynare. If not, see <https://www.gnu.org/licenses/>.
-% =========================================================================
+
@#include "cet_model.inc"
options_.prior_interval= 0.95;
diff --git a/tests/estimation/method_of_moments/CET/cet_irf_matching_file.m b/tests/estimation/method_of_moments/CET/cet_irf_matching_file.m
index 174dc4e44e78aae25dd2de0dfc37893c71c0dbc7..7d378894042a875fdd5f578c3600ac6aec5e87a1 100644
--- a/tests/estimation/method_of_moments/CET/cet_irf_matching_file.m
+++ b/tests/estimation/method_of_moments/CET/cet_irf_matching_file.m
@@ -1,7 +1,24 @@
-function [modelIrf, check] = cet_irf_matching_file(modelIrf, M_, options_mom_, ys_)
-% Based on replication codes for Christiano, Eichenbaum, Trabandt (2016, Econometrica) - Unemployment and the Business Cycle
-% This showcases how to manipulate model IRFs in a irf_matching_file
-% =========================================================================
+function [modelIrf, error_indicator] = cet_irf_matching_file(modelIrf, M_, options_mom_, ys_)
+% [modelIrf, error_indicator] = cet_irf_matching_file(modelIrf, M_, options_mom_, ys_)
+% -------------------------------------------------------------------------
+% This file manipulates model IRFs to be consistent with empirical IRFS
+% -------------------------------------------------------------------------
+% INPUTS
+% - modelIrf: [options_mom_.irf by M_.endo_nbr by M_.exo_nbr]
+% array of IRFs for all model variables and all shocks
+% - M_: [structure] Dynare model structure
+% - options_mom_: [structure] Dynare options structure
+% - ys_: [double] steady state values of all endogenous variables
+% -------------------------------------------------------------------------
+% OUTPUTS
+% - modelIrf: [options_mom_.irf by M_.endo_nbr by M_.exo_nbr]
+% modified array of IRFs for all model variables and all shocks
+% - error_indicator: [boolean] indicator of success (0) or failure (1)
+% -------------------------------------------------------------------------
+% This function is called by
+% - mom.run
+% -------------------------------------------------------------------------
+
% Copyright © 2023 Dynare Team
%
% This file is part of Dynare.
@@ -18,22 +35,11 @@ function [modelIrf, check] = cet_irf_matching_file(modelIrf, M_, options_mom_, y
%
% You should have received a copy of the GNU General Public License
% along with Dynare. If not, see <https://www.gnu.org/licenses/>.
-% =========================================================================
-% - column 1: gdp corresponds to GDPAGG + cumsum(muF)
-% - column 6: real wage corresponds to wAGG + cumsum(muF)
-% - column 7: consumption corresponds to cAGG + cumsum(muF)
-% - column 7: investment corresponds to iAGG + cumsum(muF) + cumsum(mupsiF)
-% - column 8: rel. price investment corresponds to cumsum(pinvestAGG)
-% - column 11: vacancies corresponds to vTotAGG*u
-% - column 12: labor force
-% - column 13: separation rate
-% - column 14: job finding rate corresponds to fAGG*f
-
-% initialize indicator
-check = 0;
-modelIrf = 100.*modelIrf;
+% initialize error indicator
+error_indicator = 0;
+% get indices of variables
idmuF = ismember(M_.endo_names,'muF');
idmupsiF = ismember(M_.endo_names,'mupsiF');
idGDPAGG = ismember(M_.endo_names,'GDPAGG');
@@ -49,6 +55,7 @@ idpunempAGG = ismember(M_.endo_names,'unempAGG');
idvTotAGG = ismember(M_.endo_names,'vTotAGG');
idfAGG = ismember(M_.endo_names,'fAGG');
+modelIrf = 100.*modelIrf; % convert to percent deviations
for jexo=1:M_.exo_nbr
if jexo==1
mulev_vec = 0;
@@ -56,18 +63,17 @@ for jexo=1:M_.exo_nbr
else
mulev_vec = cumsum(modelIrf(:,idmuF,jexo));
mupsilev_vec = cumsum(modelIrf(:,idmupsiF,jexo));
- end
- modelIrf(:,idGDPAGG,jexo) = modelIrf(:,idGDPAGG,jexo) + mulev_vec;
- modelIrf(:,idpiAGG,jexo) = modelIrf(:,idpiAGG,jexo);
- modelIrf(:,idRAGG,jexo) = modelIrf(:,idRAGG,jexo);
- modelIrf(:,idukAGG,jexo) = modelIrf(:,idukAGG,jexo);
- modelIrf(:,idlAGG,jexo) = modelIrf(:,idlAGG,jexo);
- modelIrf(:,idwAGG,jexo) = modelIrf(:,idwAGG,jexo) + mulev_vec;
- modelIrf(:,idcAGG,jexo) = modelIrf(:,idcAGG,jexo) + mulev_vec;
- modelIrf(:,idiAGG,jexo) = modelIrf(:,idiAGG,jexo) + mulev_vec + mupsilev_vec;
- modelIrf(:,idpinvestAGG,jexo) = cumsum(modelIrf(:,idpinvestAGG,jexo));
- modelIrf(:,idpunempAGG,jexo) = modelIrf(:,idpunempAGG,jexo)*M_.params(ismember(M_.param_names,'u'));
- modelIrf(:,idvTotAGG,jexo) = modelIrf(:,idvTotAGG,jexo);
- modelIrf(:,idfAGG,jexo) = modelIrf(:,idfAGG,jexo)*M_.params(ismember(M_.param_names,'f'));
-end
-
+ end
+ modelIrf(:,idGDPAGG,jexo) = modelIrf(:,idGDPAGG,jexo) + mulev_vec; % gdp = GDPAGG + cumsum(muF)
+ modelIrf(:,idpiAGG,jexo) = modelIrf(:,idpiAGG,jexo); % inflation = piAGG
+ modelIrf(:,idRAGG,jexo) = modelIrf(:,idRAGG,jexo); % Nominal interest rate = RAGG
+ modelIrf(:,idukAGG,jexo) = modelIrf(:,idukAGG,jexo); % capital utilization = ukAGG
+ modelIrf(:,idlAGG,jexo) = modelIrf(:,idlAGG,jexo); % labor = lAGG
+ modelIrf(:,idwAGG,jexo) = modelIrf(:,idwAGG,jexo) + mulev_vec; % real wage = wAGG + cumsum(muF)
+ modelIrf(:,idcAGG,jexo) = modelIrf(:,idcAGG,jexo) + mulev_vec; % consumption = cAGG + cumsum(muF)
+ modelIrf(:,idiAGG,jexo) = modelIrf(:,idiAGG,jexo) + mulev_vec + mupsilev_vec; % investment = iAGG + cumsum(muF) + cumsum(mupsiF)
+ modelIrf(:,idpinvestAGG,jexo) = cumsum(modelIrf(:,idpinvestAGG,jexo)); % rel. price investment = cumsum(pinvestAGG)
+ modelIrf(:,idpunempAGG,jexo) = modelIrf(:,idpunempAGG,jexo)*M_.params(ismember(M_.param_names,'u')); % vacancies = vTotAGG*u
+ modelIrf(:,idvTotAGG,jexo) = modelIrf(:,idvTotAGG,jexo); % aggregated total vacancies = vTotAGG
+ modelIrf(:,idfAGG,jexo) = modelIrf(:,idfAGG,jexo)*M_.params(ismember(M_.param_names,'f')); % job finding rate = fAGG*f
+end
\ No newline at end of file
diff --git a/tests/estimation/method_of_moments/CET/cet_matched_irfs_no_interface_workaround.m b/tests/estimation/method_of_moments/CET/cet_matched_irfs_no_interface_workaround.m
index cd4ad44aca52d9ffee79231fc76c033474ec4502..5f8bf190d804982cae30a8ed0002ad8b00cb9188 100644
--- a/tests/estimation/method_of_moments/CET/cet_matched_irfs_no_interface_workaround.m
+++ b/tests/estimation/method_of_moments/CET/cet_matched_irfs_no_interface_workaround.m
@@ -1,7 +1,10 @@
function [matched_irfs, matched_irfs_weights] = cet_matched_irfs_no_interface_workaround(endo_names,exo_names)
+% [matched_irfs, matched_irfs_weights] = cet_matched_irfs_no_interface_workaround(endo_names,exo_names)
+% -------------------------------------------------------------------------
% Based on replication codes for Christiano, Eichenbaum, Trabandt (2016, Econometrica) - Unemployment and the Business Cycle
% This currently replaces the interface for the IRF Matching capabilities of the method_of_moments toolbox.
-% =========================================================================
+% -------------------------------------------------------------------------
+
% Copyright © 2023 Dynare Team
%
% This file is part of Dynare.
@@ -18,13 +21,12 @@ function [matched_irfs, matched_irfs_weights] = cet_matched_irfs_no_interface_wo
%
% You should have received a copy of the GNU General Public License
% along with Dynare. If not, see <https://www.gnu.org/licenses/>.
-% =========================================================================
%% settings
-irf_horizon = 15; % horizon of impulse responses to match
-do_monetary_shock_only = 0; % if = 0 all shocks used in estimation
+irf_horizon = 15; % horizon of impulse responses to match
+do_monetary_shock_only = 0; % if = 0 all shocks are used in estimation
-%% load VAR impulse responses from Christiano, Trabandt and Walentin (2010)- Handbook of Monetary Economics Chapter( see main text for reference).
+%% load VAR impulse responses from Christiano, Trabandt and Walentin (2010)- Handbook of Monetary Economics Chapter
% IRFFF: impulse responses with respect to monetary policy shock
% IRFFz: impulse responses with respect to neutral tech shock
% IRFFu: impulse responses with respect to invest tech shock
@@ -48,7 +50,7 @@ load('cet_data','IRFz','IRFzSE','IRFFF','IRFFFSE','IRFu','IRFuSE');
%% map empirical irf data to a model variable
% note that any further required transformations or manipulations to model variables (such as cumsum, adding muF and mupsiF)
-% as well as selection of which periods to match occurs in an extra function cet_irf_matching.m
+% as well as selection of which periods to match occurs in an extra function cet_irf_matching_file.m
% if no such function is given then the mapping is exact and the whole horizon will be considered
% irfs with respect to monetary shock
@@ -81,4 +83,4 @@ for jexo = 1:length(SHOCKNAMES)
end
end
-end
+end
\ No newline at end of file
diff --git a/tests/estimation/method_of_moments/CET/cet_mle.mod b/tests/estimation/method_of_moments/CET/cet_mle.mod
index 51c8332f193a497ed86a752d7f6c29415ba33322..bf7057584eccc8e1b1ea985b6545b7445c5774bb 100644
--- a/tests/estimation/method_of_moments/CET/cet_mle.mod
+++ b/tests/estimation/method_of_moments/CET/cet_mle.mod
@@ -1,5 +1,7 @@
+% -------------------------------------------------------------------------
% Functionality testing of Frequentist IRF matching
-% =========================================================================
+% -------------------------------------------------------------------------
+
% Copyright © 2023 Dynare Team
%
% This file is part of Dynare.
@@ -16,7 +18,7 @@
%
% You should have received a copy of the GNU General Public License
% along with Dynare. If not, see <https://www.gnu.org/licenses/>.
-% =========================================================================
+
@#define ML = 1
@#include "cet_model.inc"
diff --git a/tests/estimation/method_of_moments/CET/cet_model.inc b/tests/estimation/method_of_moments/CET/cet_model.inc
index c32930f2611fd45e878c432ad620d39a36b34d2d..07dacf507e21522b9970cf421e3e3b126ebc9b66 100644
--- a/tests/estimation/method_of_moments/CET/cet_model.inc
+++ b/tests/estimation/method_of_moments/CET/cet_model.inc
@@ -1,6 +1,6 @@
/*
* Model codes kindly provided by Mathias Trabandt, modified to work with
- * Dynare 5.0 and newer.
+ * Parameters here are set such that the AOB Model is active.
*
* Please note that the following copyright notice only applies to this Dynare
* implementation of the model.
@@ -23,70 +23,66 @@
* see <https://www.gnu.org/licenses/>.
*/
-//////////////////////////////////////////////////////////////////////////
-//Medium-sized DSGE model of Christiano, Eichenbaum and Trabandt //
-//''Unemployment and Business Cycles'', Econometrica, forthcoming //
-// //
-//Based on parameters: AltOffer(AOB)/Nash bargaining, search/hiring cost//
-//EHL labor market as nested cases. Checkout params.m //
-// //
-//Parameters here are set such that the AOB Model is active. That model //
-//is estimated here and the code reproduces the results. //
-//////////////////////////////////////////////////////////////////////////
+/*
+ * Wanted: monetary policy shock is not in period t information set of agents
+ * (just as in VAR identified with Choleski decomp.)
+ * All other shocks are in period t information set.
+ * Solution: create two parallel economies which are structurally identical.
+ * One which is subject to the monetary shock only.
+ * This shock is not in period t info set.
+ * The other economy has the other shocks with the standard info set.
+ * Naming convention: variables ending with 'F' are in the economy with full info set
+ * variables ending with 'R' are in the restricted info set economy
+ * variables ending with 'AGG' are aggregated variables from both economies
+ * Note that in the 'R' economy, all exogenous variables are set to their steady states, except the monetary shock
+ * Likewise, in the 'F' economy, the monetary shock is set to zero while all other shocks are active
+ * Both steady states (i.e. 'R' and 'F' economy) are identical
+ * All variables are in logs
+ */
-//Wanted: monetary policy shock is not in period t information set of agents
-//(just as in VAR identified with Choleski decomp.)
-//All other shocks are in period t information set.
-
-//Solution: create two parallel economies which are structually identical. One which is
-//subject to the monetary shock only. This shock is not in period t info set.
-//The other economy has the other shocks with the standard info set.
-
-//variables ending with 'F' are in the economy with full info set
-//variables ending with 'R' are in the restricted info set economy
-//variables ending with 'AGG' are aggregated variables from both economies
-
-//Note that in the 'R' economy, all exogenous variables are set to their steady states, except the monetary shock
-//likewise, in the 'F' economy, the monetary shock is set to zero while all other shocks are active
-
-//Note that both steady states (i.e. 'R' and 'F' economy) are identical
-
-//All Variables in logs.
-
// Endogenous variables (R economy)
-var wpR wpF wR wF psiR cR RR piR iR pkprimeR FR KR ukR
+var
+wpR wpF wR wF psiR cR RR piR iR pkprimeR FR KR ukR
kbarR lR xR varthetR phaloR yR JR UR GDPR fR vR
unempR VR AAR vTotR QR piwR whaloR FwR KwR
-varthetpR;
+varthetpR
+;
// Endogenous variables (F economy)
-var psiF cF RF piF iF pkprimeF FF KF ukF
+var
+psiF cF RF piF iF pkprimeF FF KF ukF
kbarF lF xF varthetF phaloF yF JF UF GDPF fF
vF unempF VF AAF vTotF QF piwF whaloF FwF KwF
muzF mupsiF muF nGF nPHIF nGAMF nDF nKAPF
-varthetpF;
+varthetpF
+;
// Endogenous variables (AGG economy)
-var GDPAGG piAGG RAGG ukAGG lAGG wAGG cAGG
-iAGG unempAGG vTotAGG fAGG pinvestAGG;
-
-//Shocks
-varexo epsR_eps muz_eps mupsi_eps;
-
-parameters ydiffdataPercent,idiffdataPercent,alfa,rho,u,Q,sigm,
+var
+GDPAGG piAGG RAGG ukAGG lAGG wAGG cAGG
+iAGG unempAGG vTotAGG fAGG pinvestAGG
+;
+
+// Shocks
+varexo
+epsR_eps muz_eps mupsi_eps
+;
+
+parameters
+ydiffdataPercent,idiffdataPercent,alfa,rho,u,Q,sigm,
betta,lambda,deltak,tau,nuf,etag,kappa,b,xi,D,delta,gamma,Spp
sigmab sigmaa phi rhoR rpi ry sig_epsR sigmam kappaf DSHARE deltapercent
recSHAREpercent iota doNash eta doEHL xiw lambdaw AEHL
f rhomupsi rhomuz sig_mupsi sig_muz thetaG thetaPHI thetaKAP thetaD
dolagZBAR profy varkappaw pibreve thetaw varkappaf M sigmaL
tau_SS epsilon_SS upsilon_SS zetac_SS g_SS pibar thetaGAM kappaw
-unemp_SS vTot_SS alp1 alp2 alp3 alp4 bet1 bet2 bet3 s searchSHAREpercent;
+unemp_SS vTot_SS alp1 alp2 alp3 alp4 bet1 bet2 bet3 s searchSHAREpercent
+;
model;
-///////////////////////////////////////////////////////////////////////////////////////
-//R economy, monetary policy shock, current realization not in info set////////////////
-///////////////////////////////////////////////////////////////////////////////////////
+
+// auxiliary equations for R economy such that current realization fo monetary policy shock is not in information set
//information set in line with Choleski decomposition in VAR
//set exogenous variables to steady states (except monetary shock, of course)
#epsilonR=epsilon_SS;
@@ -128,7 +124,7 @@ model;
#AAR_tp1=EXPECTATION(-1)(AAR(+1));
#RRinfo=EXPECTATION(-1)(RR);
-%abbreviations
+// abbreviations
#aofukprimeR=sigmab*sigmaa*(exp(ukR))+sigmab*(1-sigmaa);
#aofukprimeR_tp1=sigmab*sigmaa*(exp(ukR_tp1))+sigmab*(1-sigmaa);
#aofukR=0.5*sigmab*sigmaa*(exp(ukR))^2+sigmab*(1-sigmaa)*exp(ukR)+sigmab*((sigmaa/2)-1);
@@ -263,7 +259,7 @@ doEHL*(1-(1-xiw)*(AEHL*exp(KwR)/(exp(FwR)*exp(wR)))^( 1/( 1-lambdaw*(1+sigmaL) )
#zetacF_tp1=zetac_SS;
#gF=g_SS;
-%abbreviations
+//abbreviations
#aofukprimeF=sigmab*sigmaa*(exp(ukF))+sigmab*(1-sigmaa);
#aofukprimeF_tp1=sigmab*sigmaa*(exp(ukF(+1)))+sigmab*(1-sigmaa);
#aofukF=0.5*sigmab*sigmaa*(exp(ukF))^2+sigmab*(1-sigmaa)*exp(ukF)+sigmab*((sigmaa/2)-1);
@@ -445,36 +441,33 @@ end;
/////////////////////////////////
-%read parameters from params.m
-%model switches
+% model switches
doNash=0; %if =0, alt offer barg. ; if =1, Nash bargaining; note: requires doEHL=0 below
doEHL=0; %if=0, alt offer barg or Nash barg; if=1, EHL labor market
@#define do_given_bets=0 // 1: given values for beta's in sharing rule
-
-bet1 = 0.0907; %AOB sharing rule coefficients
+%AOB sharing rule coefficients
+bet1 = 0.0907;
bet2 = 28.9219;
bet3 = 0.4562;
-
%Labor market parameters
-u=0.055; %unemp. rate
-rho=0.9; %job survival rate
+u=0.055; %unemp. rate
+rho=0.9; %job survival rate
sigm=0.5570; %matching function share of unemp.
recSHAREpercent=0.5; %hiring cost para; hiring cost relative to output, in percent
-searchSHAREpercent=0.05; %search cost para; hiring cost relative to output, in percent
+searchSHAREpercent=0.05; %search cost para; hiring cost relative to output, in percent
-DSHARE=0.6682; %unempl. benefits as share of w (replacement ratio)
-Q=0.7; %vacancy filling rate
+DSHARE=0.6682; %unempl. benefits as share of w (replacement ratio)
+Q=0.7; %vacancy filling rate
-deltapercent=0.3022; %prob. of barg. session determination
-M=60; %Maximum bargaining rounds per quarter, needs to be an even number!!!!
+deltapercent=0.3022; %prob. of barg. session determination
+M=60; %maximum bargaining rounds per quarter, needs to be an even number!!!!
if M<2, error('M must be at least equal to 2!');end
if mod(M,2)==1, error('M must be an even number so that the worker makes the last offer!');end
-
%prices
-xi=0.5841; %Calvo prices
+xi=0.5841; %Calvo prices
pibar=1.00625; %inflation rate, gross, quarterly
kappaf=0; %price indexation to past inflation
varkappaf=1; %price indexation parameter; if kappaf=0 and varkappaf=1 and pibreve=1 -> no indexation at all.
@@ -495,8 +488,8 @@ idiffdataPercent=2.9;
ydiffdataPercent=1.7;
%Preferences
-betta=0.996783170280770; %discount factor households; implies 3% real rate
-b=0.8320; %habit formation in consumption
+betta=0.996783170280770; %discount factor households; implies 3% real rate
+b=0.8320; %habit formation in consumption
%Monetary Policy by Taylor rule
rhoR = 0.8555; %Interest rate smoothing
@@ -551,8 +544,6 @@ rhog = 0; %gov. spending
rhotaud = 0; %price markup
rhosigmam = 0; %matching function shock
-
-
iota=1; %This parameter does not apprear in the model anymore. Just ignore it.
@@ -670,6 +661,7 @@ fAGG=log(f); pinvestAGG=-log(mupsi);
info = cet_steady_helper(1,Kw,J,V,U); % THIS CHECKS WHETHER STEADY-STATES ARE NONZERO
end;
+
resid;
steady;
check;
diff --git a/tests/estimation/method_of_moments/CET/cet_rwmh.mod b/tests/estimation/method_of_moments/CET/cet_rwmh.mod
index 81076eeb6e25798e396101e6824ad65411774009..785be680088d2d1184d7f2a6e2e5ce90990e3755 100644
--- a/tests/estimation/method_of_moments/CET/cet_rwmh.mod
+++ b/tests/estimation/method_of_moments/CET/cet_rwmh.mod
@@ -1,9 +1,11 @@
+% -------------------------------------------------------------------------
% Functionality testing of Bayesian IRF matching with
% - Random-Walk Metropolis-Hastings
% - loading mode files
% - whether results are stored and can be accessed in different directories
% - reuse previous MCMC to define covariance of proposal
-% =========================================================================
+% -------------------------------------------------------------------------
+
% Copyright © 2023 Dynare Team
%
% This file is part of Dynare.
@@ -20,7 +22,7 @@
%
% You should have received a copy of the GNU General Public License
% along with Dynare. If not, see <https://www.gnu.org/licenses/>.
-% =========================================================================
+
@#include "cet_model.inc"
options_.prior_interval= 0.95;
diff --git a/tests/estimation/method_of_moments/CET/cet_slice.mod b/tests/estimation/method_of_moments/CET/cet_slice.mod
index a03d4b90579a8e0ab9e5d793f12e2dc37628f121..db8d71cae841730779ccee8f24c4de73a1f35e9d 100644
--- a/tests/estimation/method_of_moments/CET/cet_slice.mod
+++ b/tests/estimation/method_of_moments/CET/cet_slice.mod
@@ -1,9 +1,11 @@
+% -------------------------------------------------------------------------
% Functionality testing of Bayesian IRF matching with
% - slice
% - rotated slice with use_mh_covariance_matrix
% - rotated slice with slice_initialize_with_mode
% - reuse previous MCMC
-% =========================================================================
+% -------------------------------------------------------------------------
+
% Copyright © 2023 Dynare Team
%
% This file is part of Dynare.
@@ -20,7 +22,7 @@
%
% You should have received a copy of the GNU General Public License
% along with Dynare. If not, see <https://www.gnu.org/licenses/>.
-% =========================================================================
+
@#include "cet_model.inc"
options_.prior_interval= 0.95;
diff --git a/tests/estimation/method_of_moments/CET/cet_steady_helper.m b/tests/estimation/method_of_moments/CET/cet_steady_helper.m
index e137d83d32934b0c0138be43080b3135be959cb7..add0d93c62822d809940f2f123fe63ab6270508d 100644
--- a/tests/estimation/method_of_moments/CET/cet_steady_helper.m
+++ b/tests/estimation/method_of_moments/CET/cet_steady_helper.m
@@ -1,9 +1,12 @@
-function [info,nG,nKAP,nD,nGAM,nPHI] = cet_steady_helper(justCheck,Kw,J,V,U, dolagZBAR,mu,thetaG,thetaKAP,thetaD,thetaGAM,thetaPHI)
+function [info,nG,nKAP,nD,nGAM,nPHI] = cet_steady_helper(justCheck,Kw,J,V,U,dolagZBAR,mu,thetaG,thetaKAP,thetaD,thetaGAM,thetaPHI)
+% [info,nG,nKAP,nD,nGAM,nPHI] = cet_steady_helper(justCheck,Kw,J,V,U,dolagZBAR,mu,thetaG,thetaKAP,thetaD,thetaGAM,thetaPHI)
+% -------------------------------------------------------------------------
% Based on cet_steadystate.m of the replication codes for
-% Christiano, Eichenbaum, Trabandt (2016, Econometrica) - Unemployment and the Business Cycle;
-% slightly modified such that most code is now in a steady_state_model block
+% Christiano, Eichenbaum, Trabandt (2016, Econometrica);
+% slightly modified such that most of the code is in a steady_state_model block
% and only the two if statements are computed in this helper function.
-% =========================================================================
+% -------------------------------------------------------------------------
+
% Copyright © 2023 Dynare Team
%
% This file is part of Dynare.
@@ -20,7 +23,6 @@ function [info,nG,nKAP,nD,nGAM,nPHI] = cet_steady_helper(justCheck,Kw,J,V,U, do
%
% You should have received a copy of the GNU General Public License
% along with Dynare. If not, see <https://www.gnu.org/licenses/>.
-% =========================================================================
info = 0;
if justCheck
diff --git a/tests/estimation/method_of_moments/CET/cet_tarb.mod b/tests/estimation/method_of_moments/CET/cet_tarb.mod
index 63f49b4426adc510d107a596a298980394f141fe..ff5023ba925a5b10951ae030d82bafa813dbc9fb 100644
--- a/tests/estimation/method_of_moments/CET/cet_tarb.mod
+++ b/tests/estimation/method_of_moments/CET/cet_tarb.mod
@@ -1,7 +1,9 @@
+% -------------------------------------------------------------------------
% Functionality testing of Bayesian IRF matching with
% - Tailored-Randomized-Block Metropolis-Hastings
% - reuse previous MCMC mode for optimization
-% =========================================================================
+% -------------------------------------------------------------------------
+
% Copyright © 2023 Dynare Team
%
% This file is part of Dynare.
@@ -18,7 +20,7 @@
%
% You should have received a copy of the GNU General Public License
% along with Dynare. If not, see <https://www.gnu.org/licenses/>.
-% =========================================================================
+
@#include "cet_model.inc"
options_.prior_interval= 0.95;