From 39ae080997618787ec229adeeb1a6d7364136bf6 Mon Sep 17 00:00:00 2001 From: Johannes Pfeifer Date: Mon, 6 Mar 2023 10:42:48 -0500 Subject: [PATCH] model_diagnostics.m: fix logic of Ramsey instrument checks The mapping from economic to steady state instruments is not one-to-one. Trigger warnings instead of errors. --- matlab/model_diagnostics.m | 6 +++--- 1 file changed, 3 insertions(+), 3 deletions(-) diff --git a/matlab/model_diagnostics.m b/matlab/model_diagnostics.m index 8336767ef..778c33688 100644 --- a/matlab/model_diagnostics.m +++ b/matlab/model_diagnostics.m @@ -45,13 +45,13 @@ if options.ramsey_policy orig_endo_aux_nbr = M.orig_endo_nbr + min(find([M.aux_vars.type] == 6)) - 1; implied_inst_nbr = orig_endo_aux_nbr - M.orig_eq_nbr; if inst_nbr>implied_inst_nbr - error('You have specified more instruments than there are omitted equations') + warning('You have specified more steady state instruments than there are omitted equations. While there are use cases for this setup, it is rather unusual. Check whether this is desired.') elseif inst_nbr