95 lines
2.2 KiB
Modula-2
95 lines
2.2 KiB
Modula-2
/*
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* This file is a modified version of 'fs2000.mod'.
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*
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* The difference is that, here, the equations are written in non-stationary form,
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* and Dynare automatically does the detrending.
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*
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* Also note that "m" and "dA" in 'fs2000.mod' are here called "gM" and "gA"
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*/
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/*
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* Copyright © 2004-2015 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 <https://www.gnu.org/licenses/>.
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*/
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var gM gA;
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trend_var(growth_factor=gA) A;
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trend_var(growth_factor=gM) M;
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var(deflator=A) k c y;
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var(deflator=M(-1)/A) P;
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var(deflator=M(-1)) W l d;
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var R n;
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varexo e_a e_m;
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parameters alp bet gam mst rho psi del;
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alp = 0.33;
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bet = 0.99;
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gam = 0.003;
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mst = 1.011;
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rho = 0.7;
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psi = 0.787;
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del = 0.02;
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model;
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gA = exp(gam+e_a);
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log(gM) = (1-rho)*log(mst) + rho*log(gM(-1))+e_m;
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c+k = k(-1)^alp*(A*n)^(1-alp)+(1-del)*k(-1);
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P*c = M;
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P/(c(+1)*P(+1))=bet*P(+1)*(alp*k^(alp-1)*(A(+1)*n(+1))^(1-alp)+(1-del))/(c(+2)*P(+2));
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(psi/(1-psi))*(c*P/(1-n))=W;
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R = P*(1-alp)*k(-1)^alp*A^(1-alp)*n^(-alp)/W;
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W = l/n;
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M-M(-1)+d = l;
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1/(c*P)=bet*R/(c(+1)*P(+1));
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y = k(-1)^alp*(A*n)^(1-alp);
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end;
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steady_state_model;
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gA = exp(gam);
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gst = 1/gA;
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gM = mst;
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khst = ( (1-gst*bet*(1-del)) / (alp*gst^alp*bet) )^(1/(alp-1));
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xist = ( ((khst*gst)^alp - (1-gst*(1-del))*khst)/mst )^(-1);
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nust = psi*mst^2/( (1-alp)*(1-psi)*bet*gst^alp*khst^alp );
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n = xist/(nust+xist);
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P = xist + nust;
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k = khst*n;
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l = psi*mst*n/( (1-psi)*(1-n) );
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c = mst/P;
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d = l - mst + 1;
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y = k^alp*n^(1-alp)*gst^alp;
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R = mst/bet;
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W = l/n;
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ist = y-c;
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q = 1 - d;
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e = 1;
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end;
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shocks;
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var e_a; stderr 0.014;
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var e_m; stderr 0.005;
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end;
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steady;
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check;
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stoch_simul;
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