Manual: document behavior of steady_state() in perfect_foresight_context
(@stepan removed trailing whitespaces)mr#1900
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@ -617,6 +617,19 @@ not in EXPRESSION):
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Exogenous and exogenous deterministic variables may not appear in
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Exogenous and exogenous deterministic variables may not appear in
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MODEL_EXPRESSION.
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MODEL_EXPRESSION.
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.. warning::
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The concept of a steady state is ambiguous in a perfect foresight
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context with permament and potentially anticipated shocks occuring.
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Dynare will use the contents of ``oo_.steady_state`` as its reference
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for calls to the ``STEADY_STATE()``-operator. In the presence of
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``endval``, this implies that the terminal state provided by the
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user is used. This may be a steady state computed by Dynare (if ``endval``
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is followed by ``steady``) or simply the terminal state provided by the
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user (if ``endval`` is not followed by ``steady``). Put differently,
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Dynare will not automatically compute the steady state conditional on
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the specificed value of the exogenous variables in the respective periods.
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.. operator:: EXPECTATION (INTEGER) (MODEL_EXPRESSION)
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.. operator:: EXPECTATION (INTEGER) (MODEL_EXPRESSION)
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This operator is used to take the expectation of some expression
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This operator is used to take the expectation of some expression
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