Merge branch 'ramsey' into 'master'

New Ramsey syntax

See merge request Dynare/dynare!1685

matlab/evaluate_planner_objective.m

@@ -28,14 +28,17 @@ function planner_objective_value = evaluate_planner_objective(M,options,oo)
 % You should have received a copy of the GNU General Public License
 % along with Dynare.  If not, see <http://www.gnu.org/licenses/>.
 
+if options.order>1
+    fprintf('\nevaluate_planner_objective: order>1 not yet supported\n')
+    planner_objective_value = NaN;
+    return
+end
 dr = oo.dr;
 exo_nbr = M.exo_nbr;
 nstatic = M.nstatic;
 nspred = M.nspred;
 if nspred > 180
-    disp(' ')
+    fprintf('\nevaluate_planner_objective: model too large, can''t evaluate planner objective\n')
-    disp(['WARNING in evaluate_planner_objective: model too large, can''t evaluate planner ' ...
-          'objective'])
     planner_objective_value = NaN;
     return
 end
@@ -109,15 +112,13 @@ if options.ramsey_policy
 end
 
 if ~options.noprint
-    skipline()
+    fprintf('\nApproximated value of planner objective function\n')
-    disp('Approximated value of planner objective function')
     if options.ramsey_policy
-        disp(['    - with initial Lagrange multipliers set to 0: ' ...
+        fprintf('    - with initial Lagrange multipliers set to 0: %10.8f\n', ...
-              num2str(planner_objective_value(2)) ])
+              planner_objective_value(2))
-        disp(['    - with initial Lagrange multipliers set to steady state: ' ...
+        fprintf('    - with initial Lagrange multipliers set to steady state: %10.8f\n\n', ...
-              num2str(planner_objective_value(1)) ])
+              planner_objective_value(1))
     elseif options.discretionary_policy
-        fprintf('with discretionary policy: %10.8f',planner_objective_value(1))
+        fprintf('with discretionary policy: %10.8f\n\n',planner_objective_value(1))
     end
-    skipline()
 end

tests/optimal_policy/Ramsey/Gali_commitment.mod

@@ -3,7 +3,7 @@
  * in Jordi Galí (2008): Monetary Policy, Inflation, and the Business Cycle, 
  * Princeton University Press, Chapter 5.1.2
  *
- * It demonstrates how to use the ramsey_policy command of Dynare.
+ * It demonstrates how to use the ramsey_model command of Dynare.
  *
  * Notes:
  *      - all model variables are expressed in deviations from steady state, i.e. 
@@ -18,7 +18,7 @@
  */
 
 /*
- * Copyright (C) 2015 Johannes Pfeifer
+ * Copyright (C) 2015-19 Johannes Pfeifer
  *
  * This is free software: you can redistribute it and/or modify
  * it under the terms of the GNU General Public License as published by
@@ -168,7 +168,8 @@ end;
 //planner objective using alpha_x expressed as function of deep parameters
 planner_objective pi^2 +(((1-theta)*(1-betta*theta)/theta*((1-alppha)/(1-alppha+alppha*epsilon)))*(siggma+(phi+alppha)/(1-alppha)))/epsilon*y_gap^2;
 
-ramsey_policy(instruments=(i),irf=13,planner_discount=betta) x pi p u;
+ramsey_model(instruments=(i),planner_discount=betta);
+stoch_simul(order=1,irf=13) x pi p u;
 
 verbatim;
 %% Check correctness

tests/optimal_policy/Ramsey/ramsey_ex_aux.mod

@@ -49,4 +49,6 @@ var u; stderr 0.008;
 end;
 
 planner_objective(ln(c)-phi*((n^(1+gamma))/(1+gamma)));
-ramsey_policy(planner_discount=0.99,order=1,instruments=(r));
+ramsey_model(planner_discount=0.99,instruments=(r));
+stoch_simul(order=1,periods=500);
+evaluate_planner_objective;

tests/optimal_policy/Ramsey/ramsey_ex_wrong_ss_file_xfail.mod

@@ -38,4 +38,6 @@ var u; stderr 0.008;
 end;
 
 planner_objective(ln(c)-phi*((n^(1+gamma))/(1+gamma)));
-ramsey_policy(planner_discount=0.99,order=1,instruments=(r));
+ramsey_model(planner_discount=0.99,order=1,instruments=(r));
+stoch_simul(order=1,periods=500);
+evaluate_planner_objective;

tests/optimal_policy/Ramsey/ramsey_histval.mod

@@ -41,4 +41,5 @@ values 1;
 end;
 options_.dr_display_tol=0;
 planner_objective(ln(c)-phi*((n^(1+gamma))/(1+gamma)));
-ramsey_policy(planner_discount=0.99,order=1,instruments=(r),periods=500);
+ramsey_model(planner_discount=0.99,instruments=(r));
+stoch_simul(order=1,periods=500);

tests/optimal_policy/Ramsey/ramsey_histval_xfail.mod

@@ -41,4 +41,6 @@ values 1;
 end;
 options_.dr_display_tol=0;
 planner_objective(ln(c)-phi*((n^(1+gamma))/(1+gamma)));
-ramsey_policy(planner_discount=0.99,order=1,instruments=(r),periods=500);
+ramsey_model(planner_discount=0.99,instruments=(r));
+stoch_simul(order=1,periods=500);
+evaluate_planner_objective;

tests/optimal_policy/mult_elimination_test.mod

@@ -45,7 +45,8 @@ end;
 
 planner_objective 0.25*pie_obs^2+y^2+0.1*dR^2;
 
-ramsey_policy(order=1,irf=0,planner_discount=0.95);
+ramsey_model(planner_discount=0.95);
+stoch_simul(order=1,irf=0);
 
 dr2 = mult_elimination({'R'},M_,options_,oo_);
 

tests/optimal_policy/nk_ramsey.mod

@@ -84,7 +84,8 @@ planner_objective(ln(c)-phi*((n^(1+gamma))/(1+gamma)));
 
 write_latex_static_model;
 
-ramsey_policy(planner_discount=0.99);
+ramsey_model(planner_discount=0.99);
-
+stoch_simul(order=1,irf=20);
+evaluate_planner_objective;
 
 

tests/optimal_policy/nk_ramsey_det.mod

@@ -13,8 +13,6 @@ var pai, c, n, r, a;
 varexo u;
 
 
-
-
 //------------------------------------------------------------------------------------------------------------------------
 // 2. Parameter declaration and calibration
 //-------------------------------------------------------------------------------------------------------------------------
@@ -29,25 +27,16 @@ phi=1;           //coefficient associated to labor effort disutility
 
 rho=0.95;  //coefficient associated to productivity shock
 
-
 //-----------------------------------------------------------------------------------------------------------------------
 // 3. The model
 //-----------------------------------------------------------------------------------------------------------------------
 
-
 model;
-
-
 a=rho*(a(-1))+u;
-
 1/c=beta*(1/(c(+1)))*(r/(pai(+1)));               //euler
-
-
 omega*pai*(pai-1)=beta*omega*(c/(c(+1)))*(pai(+1))*(pai(+1)-1)+epsilon*exp(a)*n*(c/exp(a)*phi*n^gamma-(epsilon-1)/epsilon);  //NK pc
 //pai*(pai-1)/c = beta*pai(+1)*(pai(+1)-1)/c(+1)+epsilon*phi*n^(gamma+1)/omega-exp(a)*n*(epsilon-1)/(omega*c);  //NK pc
-
 (exp(a))*n=c+(omega/2)*((pai-1)^2);
-
 end;
 
 //--------------------------------------------------------------------------------------------------------------------------
@@ -55,18 +44,14 @@ end;
 //---------------------------------------------------------------------------------------------------------------------------
 
 initval;
-
 pai=1;
 r=1/beta;
 c=0.9671684882;
 n=0.9671684882;
 a=0;
-
-
 end;
 
 
-
 //---------------------------------------------------------------------------------------------------------------------------
 // 5. shocks
 //---------------------------------------------------------------------------------------------------------------------------
@@ -86,11 +71,9 @@ planner_objective(ln(c)-phi*((n^(1+gamma))/(1+gamma)));
 write_latex_static_model;
 
 ramsey_model(planner_discount=0.99);
-
-options_.ramsey_policy=1;
 steady;
 
-options_.simul.maxit = 20;
+perfect_foresight_setup(periods=200);
-simul(periods=100);
+perfect_foresight_solver(maxit=20);
 
 rplot r;

tests/optimal_policy/nk_ramsey_expectation.mod

@@ -90,7 +90,7 @@ write_latex_static_model;
 write_latex_dynamic_model;
 
 options_.solve_tolf=1e-12;
-ramsey_policy(planner_discount=0.99);
+ramsey_model(planner_discount=0.99);
-
+stoch_simul(order=1,irf=0);
-
+evaluate_planner_objective;
 

tests/optimal_policy/nk_ramsey_expectation_a.mod

@@ -89,7 +89,9 @@ end;
 planner_objective(ln(c)-phi*((n^(1+gamma))/(1+gamma)));
 
 options_.solve_tolf=1e-12;
-ramsey_policy(planner_discount=0.99);
+ramsey_model(planner_discount=0.99);
+stoch_simul(order=1,irf=0);
+evaluate_planner_objective;
 
 o1=load('nk_ramsey_expectation_results');
 if (norm(o1.oo_.dr.ghx-oo_.dr.ghx,inf) > 1e-12)

tests/optimal_policy/nk_ramsey_model.mod

@@ -85,6 +85,5 @@ planner_objective(ln(c)-phi*((n^(1+gamma))/(1+gamma)));
 write_latex_static_model;
 
 ramsey_model(planner_discount=0.99);
-options_.ramsey_policy=1;
 stoch_simul(irf=0);
-
+evaluate_planner_objective;

tests/optimal_policy/ramsey_.mod

@@ -28,4 +28,6 @@ planner_objective inflation^2 + lambda1*y^2 + lambda2*r^2;
 
 write_latex_dynamic_model;
 
-ramsey_policy(planner_discount=0.95, order = 1);
+ramsey_model(planner_discount=0.95);
+stoch_simul(order=1);
+evaluate_planner_objective;