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testsuite: expand Ramsey tests to check for consistency of utility and welfare 

Also increase variance to make tests more challenging
pac-components
Johannes Pfeifer 2021-10-15 11:34:53 +02:00
parent 42165b9893
commit 45772571c3
3 changed files with 14 additions and 3 deletions
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2
tests/optimal_policy/neo_growth_common.inc
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@ -9,7 +9,7 @@ gamma = 1;
delta = 0.012;
alpha = 0.4;
rho = 0.95;
s = 0.007;
s = 0.07; % increased by a factor of 10 from 0.007 to increase risk correction
model;
c^(-gamma)=beta*c(+1)^(-gamma)*(alpha*exp(z(+1))*k^(alpha-1)+1-delta);

9
tests/optimal_policy/neo_growth_ramsey.mod
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@ -54,6 +54,15 @@ if abs(cond_W_hand_L_SS - planner_objective_value.conditional.steady_initial_mul
error('Inaccurate conditional welfare with Lagrange multiplier set to its steady-state value');
end;
if abs(oo_.mean(strmatch('U',M_.endo_names,'exact'))-oo1.oo_.mean(strmatch('U',M1.M_.endo_names,'exact')))>1e-6
error('Utility inconsistent');
end
if abs(planner_objective_value.unconditional-oo_.mean(strmatch('U',M_.endo_names,'exact'))/(1-beta)) > 1e-6;
error('Unconditional welfare assessment does not match utility');
end;
initial_condition_states = zeros(M1.M_.endo_nbr,M1.M_.maximum_lag);
initial_condition_states(1:M1.M_.orig_endo_nbr,:) = repmat(oo1.oo_.dr.ys(1:M1.M_.orig_endo_nbr),1,M1.M_.maximum_lag);
shock_matrix = zeros(1,M1.M_.exo_nbr);

6
tests/optimal_policy/neo_growth_ramsey_common.inc
View File

@ -1,4 +1,4 @@
var k z c;
var k z c U;
varexo e;
@ -9,15 +9,17 @@ gamma = 1;
delta = 0.012;
alpha = 0.4;
rho = 0.95;
s = 0.007;
s = 0.07; % increased by a factor of 10 from 0.007 to increase risk correction
model;
k=exp(z)*k(-1)^(alpha)-c+(1-delta)*k(-1);
z=rho*z(-1)+s*e;
U=ln(c);
end;
steady_state_model;
z = 0;
U=ln(c);
end;
planner_objective ln(c);