51 lines
1.1 KiB
Modula-2
51 lines
1.1 KiB
Modula-2
var a g mc mrs n pie r rw winf y;
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varexo e_a e_g e_lam e_ms;
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parameters invsig delta gam rho gampie gamy rhoa rhog bet
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thetabig omega eps;
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eps=6;
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thetabig=2;
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bet=0.99;
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invsig=2.5;
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gampie=1.5;
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gamy=0.125;
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gam=1;
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delta=0.36;
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omega=0.54;
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rhoa=0.5;
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rhog=0.5;
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rho=0.5;
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model(linear);
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y=y(+1)-(1/invsig)*(r-pie(+1)+g(+1)-g);
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y=a+(1-delta)*n;
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mc=rw+n-y;
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mrs=invsig*y+gam*n-g;
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r=rho*r(-1)+(1-rho)*(gampie*pie+gamy*y)+e_ms;
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rw=rw(-1)+winf-pie;
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a=rhoa*a(-1)+e_a;
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g=rhog*g(-1)+e_g;
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rw=mrs;
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// HYBRID PHILLIPS CURVED USED FOR THE SUMULATIONS:
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pie = (omega/(1+omega*bet))*pie(-1)+(bet/(1+omega*bet))*pie(1)+(1-delta)*
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(1-(1-1/thetabig)*bet)*(1-(1-1/thetabig))/((1-1/thetabig)*(1+delta*(eps-1)))/(1+omega*bet)*(mc+e_lam);
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// FORWARD LOOKING PHILLIPS CURVE:
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// pie=bet*pie(+1)+(1-delta)*(1-(1-1/thetabig)*bet)*(1-(1-1/thetabig))/((1-1/thetabig)*(1+delta*(eps-1)))*(mc+e_lam);
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end;
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shocks;
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var e_a; stderr 1;
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var e_g; stderr 1;
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var e_ms; stderr 1;
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var e_lam; stderr 1;
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end;
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steady;
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check;
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stoch_simul(periods=500,irf=0);
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datatomfile('datarabanal_hybrid',[]); |