stepan
/
dynare
1
0
Fork 0
Code Issues Pull Requests Packages Projects Releases Wiki Activity

Reference manual: update introduction 

git-svn-id: https://www.dynare.org/svn/dynare/trunk@3285 ac1d8469-bf42-47a9-8791-bf33cf982152
time-shift
sebastien 2009-12-23 11:31:05 +00:00
parent 0542308374
commit 898a2bfa85
1 changed files with 3 additions and 5 deletions
Show Stats Download Patch File Download Diff File Expand all files Collapse all files

8
doc/manual.xml
View File

@ -72,20 +72,18 @@
approximate by an horizon of simulation far enough in the future.
Another exercise for which Dynare is well suited is to study the
transition path to a new equilibrium following a permanent shock.
</para>
<para>
For deterministic simulations, Dynare uses a Newton-type algorithm, first
proposed by <xref linkend="laffargue_1990"/>, instead of a first order technique like
the one proposed by <xref linkend="fair-taylor_1983"/>, and used in earlier generation simulation programs. We believe
this approach to be in general both faster and more robust. The
details of the algorithm used in Dynare can be found in <xref linkend="juillard_1996"/>.
details of the algorithm can be found in <xref linkend="juillard_1996"/>.
</para>
<para>
In a stochastic context, Dynare computes one or several simulations corresponding to a random draw of the shocks. Starting with version 2.3, Dynare uses a second order Taylor approximation of the expectation functions (see <xref linkend="judd_1996"/>,
In a stochastic context, Dynare computes one or several simulations corresponding to a random draw of the shocks. Dynare uses a Taylor approximation, up to third order, of the expectation functions (see <xref linkend="judd_1996"/>,
<xref linkend="collard-juillard_2001a" />, <xref linkend="collard-juillard_2001b"/>, and <xref linkend="schmitt-grohe-uribe_2002"/>).
</para>
<para>
Starting with version 3.0, it is possible to use Dynare to estimate model parameters either by maximum likelihood as in <xref linkend="ireland_2004"/> or using a Bayesian approach as in <xref linkend="rabanal-rubio-ramirez_2003"/>, <xref linkend="schorfheide_2000"/> or <xref linkend="smets-wouters_2003"/>.
It is also possible to use Dynare to estimate model parameters either by maximum likelihood as in <xref linkend="ireland_2004"/> or using a Bayesian approach as in <xref linkend="rabanal-rubio-ramirez_2003"/>, <xref linkend="schorfheide_2000"/> or <xref linkend="smets-wouters_2003"/>.
</para>
<para>