76 lines
1.5 KiB
Modula-2
76 lines
1.5 KiB
Modula-2
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var Y K I L q KL_ratio Profit d;
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predetermined_variables K;
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varexo eta;
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parameters alpha beta delta psi w Pi A r;
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alpha = 1/3;
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delta = 0.02;
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beta = 0.98;
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psi = 0.0003393;
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Pi = 1;
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A = 4.942921;
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w = 20.2966;
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r = 0.02;
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model;
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//[name = 'FOC wrt L', mcp = 'L>0']
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(1-alpha)*A*((K)^alpha)*(L^(-alpha)) = w*(1-eta);
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[name = 'FOC wrt K(+1)', mcp = 'q>0']
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beta*alpha*A*(K(+1)^(alpha-1))*(L(+1)^(1-alpha)) + beta*(1-delta)*q(+1) = q;
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KL_ratio = K/L;
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//[name = 'FOC wrt I', mcp = 'I>0']
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I = (1/psi)*(1 - (Pi/q));
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//[name = 'Law of Motion for K', mcp = 'K>0']
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K(+1) = (1-delta)*K + I - (psi/2)*(I^2);
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//[name = 'Output Function', mcp = 'Y>0']
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Y = A*(K^alpha)*(L^(1-alpha));
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Profit = Y - w*L - Pi*I;
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//[name = 'dividend definition', mcp = 'd>0']
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d = Profit;
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end;
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steady_state_model;
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KL_ratio = ( (w*(1-eta))/((1-alpha)*A) )^(1/alpha);
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q = (beta*alpha*A*(KL_ratio^(alpha-1))) / (1-beta*(1-delta));
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I = (1/psi) * (1 - (Pi/q));
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K = (1/delta)*(I - (psi/2)*(I^2));
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L = (1/KL_ratio) * K;
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Y = A*(K^(alpha))*(L^(1-alpha));
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Profit = Y - w*L - Pi*I;
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d = Profit;
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end;
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histval;
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K(0) = 5000;
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end;
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initval;
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eta = 0;
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K = 1000;
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I = 1938.246;
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q = 1.07481;
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L = 42.43821;
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KL_ratio = 233.6644;
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Y = 36641.31;
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end;
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perfect_foresight_setup(periods=200);
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if oo_.endo_simul(strmatch('K',M_.endo_names,'exact'),1)~=5000
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error('initval does not match')
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end
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if oo_.endo_simul(strmatch('K',M_.endo_names,'exact'),end)~=1000
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error('endval does not match')
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end
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