42 lines
739 B
Modula-2
42 lines
739 B
Modula-2
parameters betta sigma phipi phiy omega kappa r_ss;
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var c r ui;
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varexo pai;
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betta = 0.99; % discount rate patient
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sigma = 1.5; % risk aversion param
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omega = 0.75; % calvo param
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phipi = 1.5;
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phiy = 0.5;
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r_ss = 0;
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kappa = (1-omega)*(1-omega*betta)/omega;
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model(linear);
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[name='Euler']
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c = c(+1) - (1/sigma)*(r - r_ss - pai(+1));
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[name='NKPC']
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pai = betta*pai(+1) + kappa*c;
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[name='Taylor rule']
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r = phipi*pai + phiy*c + ui;
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end;
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initval;
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ui = 0;
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c = 0;
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r = 0;
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end;
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steady;
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shocks;
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var pai;
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periods 1,2,3,4,5,6,7,8,9,10;
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values 0.006, 0.005854795, 0.00550196, 0.0052, 0.0048, 0.0043, 0.0037, 0.0028, 0.0022, 0.0015;
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end;
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model_info;
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model_info(block_static,incidence);
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model_info(block_dynamic,incidence);
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