diff --git a/tests/ep/rbc.mod b/tests/ep/rbc.mod index 7dc0f5dcd..cc091e911 100644 --- a/tests/ep/rbc.mod +++ b/tests/ep/rbc.mod @@ -17,9 +17,7 @@ psi = -5.000; delta = 0.020; rho = 0.950; effstar = 1.000; -sigma = 0.0010; - -external_function(name=mean_preserving_spread,nargs=2); +sigma = 0.010; model(use_dll); @@ -27,7 +25,7 @@ model(use_dll); efficiency = rho*efficiency(-1) + sigma*EfficiencyInnovation; // Eq. n°2: - Efficiency = effstar*exp(efficiency-mean_preserving_spread(rho,sigma)); + Efficiency = effstar*exp(efficiency-.5*sigma*sigma/(1-rho*rho)); // Eq. n°3: Output = Efficiency*(alpha*(Capital(-1)^psi)+(1-alpha)*(Labour^psi))^(1/psi); @@ -48,7 +46,7 @@ end; steady_state_model; efficiency = 0; -Efficiency = effstar;//*exp(efficiency-mean_preserving_spread(rho,sigma2)); +Efficiency = effstar; // Compute steady state ratios. Output_per_unit_of_Capital=((1/beta-1+delta)/alpha)^(1/(1-psi)); Consumption_per_unit_of_Capital=Output_per_unit_of_Capital-delta; @@ -72,7 +70,7 @@ shocks; var EfficiencyInnovation = 1; end; -steady; +steady(nocheck); options_.ep.verbosity = 0;