Add example3 that uses steady_state_model block to call fsolve
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/*
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* Example 1 from F. Collard (2001): "Stochastic simulations with DYNARE:
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* A practical guide" (see "guide.pdf" in the documentation directory).
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*
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* This file uses the steady_state_model-block to provide analytical steady state values.
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* To do so, the equations of the model have been transformed into a non-linear equation in
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* labor h. Within the steady_state_model-block, a helper function is called that uses fsolve
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* to solve this non-linear equation. The use of the helper function is necessary to avoid
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* interference of the Matlab syntax with Dynare's preprocessor. A more complicated alternative
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* that provides more flexibility in the type of commands executed and functions called is the use
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* of an explicit steady state file. See the NK_baseline.mod in the Examples Folder.
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*
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* This mod-file also shows how to use Dynare's capacities to generate TeX-files of the model equations.
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* If you want to see the model equations belonging to this mod-file, run it using Dynare
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* and then use a TeX-editor to compile the TeX-files generated.
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*/
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/*
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* Copyright (C) 2013 Dynare Team
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*
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* This file is part of Dynare.
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*
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* Dynare is free software: you can redistribute it and/or modify
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* it under the terms of the GNU General Public License as published by
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* the Free Software Foundation, either version 3 of the License, or
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* (at your option) any later version.
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*
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* Dynare is distributed in the hope that it will be useful,
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* but WITHOUT ANY WARRANTY; without even the implied warranty of
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* MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE. See the
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* GNU General Public License for more details.
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*
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* You should have received a copy of the GNU General Public License
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* along with Dynare. If not, see <http://www.gnu.org/licenses/>.
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*/
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var y, c, k, a, h, b;
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varexo e, u;
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parameters beta $\beta$
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rho $\rho$
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alpha $\alpha$
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delta $\delta$
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theta $\theta$
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psi $\psi$
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tau $\tau$;
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alpha = 0.36;
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rho = 0.95;
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tau = 0.025;
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beta = 0.99;
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delta = 0.025;
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psi = 0;
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theta = 2.95;
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phi = 0.1;
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model;
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c*theta*h^(1+psi)=(1-alpha)*y;
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k = beta*(((exp(b)*c)/(exp(b(+1))*c(+1)))
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*(exp(b(+1))*alpha*y(+1)+(1-delta)*k));
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y = exp(a)*(k(-1)^alpha)*(h^(1-alpha));
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k = exp(b)*(y-c)+(1-delta)*k(-1);
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a = rho*a(-1)+tau*b(-1) + e;
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b = tau*a(-1)+rho*b(-1) + u;
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end;
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steady_state_model;
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h=example3_steady_state_helper(alpha,beta,delta,psi,theta);
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k=((1/beta-(1-delta))/alpha)^(1/(alpha-1))*h;
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y = k^alpha*h^(1-alpha);
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c=(1-alpha)*y/(theta*h^(1+psi));
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a=0;
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b=0;
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end;
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shocks;
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var e; stderr 0.009;
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var u; stderr 0.009;
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var e, u = phi*0.009*0.009;
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end;
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//use command to generate TeX-Files with dynamic and static model equations
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write_latex_dynamic_model;
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write_latex_static_model;
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stoch_simul;
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@ -0,0 +1,5 @@
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function h=example3_steady_state_helper(alpha,beta,delta,psi,theta)
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options=optimset('Display','Final','TolX',1e-10,'TolFun',1e-10);
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h=fsolve(@(h)1- ((((((1/beta-(1-delta))/alpha)^(1/(alpha-1))*h)^(alpha-1))*(h^(1-alpha))-(((1-alpha)*((((1/beta-(1-delta))/alpha)^(1/(alpha-1)))^alpha))/(theta*h^psi))/(((1/beta-(1-delta))/alpha)^(1/(alpha-1))*h))+(1-delta)),0.2,options);
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