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Added variable for the expected term. Changed calibration.

time-shift
Stéphane Adjemian (Charybdis) 2011-12-20 12:24:47 +01:00
parent 4b9b90f1bb
commit 5ec78139c0
2 changed files with 12 additions and 6 deletions
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14
tests/ep/rbc.mod
View File

@ -1,4 +1,4 @@
var Capital, Output, Labour, Consumption, Efficiency, efficiency;
var Capital, Output, Labour, Consumption, Efficiency, efficiency, ExpectedTerm;
varexo EfficiencyInnovation;
@ -11,9 +11,9 @@ parameters beta, theta, tau, alpha, psi, delta, rho, effstar, sigma2;
beta = 0.990;
theta = 0.357;
tau = 2.000;
tau = 30.000;
alpha = 0.450;
psi = -0.500;
psi = -5.000;
delta = 0.020;
rho = 0.950;
effstar = 1.000;
@ -39,7 +39,10 @@ model(block,bytecode);
((1-theta)/theta)*(Consumption/(1-Labour)) - (1-alpha)*(Output/Labour)^(1-psi);
// Eq. n°6:
(((Consumption^theta)*((1-Labour)^(1-theta)))^(1-tau))/Consumption - beta*((((Consumption(1)^theta)*((1-Labour(1))^(1-theta)))^(1-tau))/Consumption(1))*(alpha*((Output(1)/Capital)^(1-psi))+1-delta);
(((Consumption^theta)*((1-Labour)^(1-theta)))^(1-tau))/Consumption - ExpectedTerm(1);
// Eq. n°7:
ExpectedTerm = beta*((((Consumption^theta)*((1-Labour)^(1-theta)))^(1-tau))/Consumption)*(alpha*((Output/Capital(-1))^(1-psi))+1-delta);
end;
@ -50,6 +53,7 @@ end;
steady;
options_.ep.verbosity = 0;
options_.console_mode = 1;
options_.ep.stochastic = 0;
options_.console_mode = 0;
ts = extended_path([],1000);

4
tests/ep/rbc_steadystate.m
View File

@ -43,4 +43,6 @@ ys(4)=SteadyStateConsumption;
ys(1)=SteadyStateCapital;
ys(3)=SteadyStateLabour;
ys(5)=M_.params(8);
ys(6)=0;
ys(6)=0;
ys(7)=M_.params(1)*((((SteadyStateConsumption^M_.params(2))*((1-SteadyStateLabour)^(1-M_.params(2))))^(1-M_.params(3)))/SteadyStateConsumption)* ...
(M_.params(4)*((SteadyStateOutput/SteadyStateCapital)^(1-M_.params(5)))+1-M_.params(6));