74 lines
3.1 KiB
Modula-2
74 lines
3.1 KiB
Modula-2
/*
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* Copyright © 2021 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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/*
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* This file computes a second-order approximation of the neo-classical growth model.
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* It assesses the conditional and unconditional welfares computed by the evaluate_planner_objective function
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* and compares them to a by-hand assessment stemming from the results the model neo_growth.mod incur.
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*/
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@#include "neo_growth_ramsey_common.inc"
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shocks;
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var e;
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stderr 1;
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end;
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stoch_simul(order=2, irf=0);
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planner_objective_value = evaluate_planner_objective(M_, options_, oo_);
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if ~exist(['neo_growth' filesep 'Output' filesep 'neo_growth_results.mat'],'file');
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error('neo_growth must be run first');
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end;
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oo1 = load(['neo_growth' filesep 'Output' filesep 'neo_growth_results'],'oo_');
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M1 = load(['neo_growth' filesep 'Output' filesep 'neo_growth_results'],'M_');
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options1 = load(['neo_growth' filesep 'Output' filesep 'neo_growth_results'],'options_');
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unc_W_hand = oo1.oo_.mean(strmatch('W',M1.M_.endo_names,'exact'));
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initial_condition_states = repmat(oo1.oo_.dr.ys,1,M1.M_.maximum_lag);
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shock_matrix = zeros(1,M1.M_.exo_nbr);
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y_sim = simult_(M1.M_,options1.options_,initial_condition_states,oo1.oo_.dr,shock_matrix,options1.options_.order);
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cond_W_hand_L_SS=y_sim(strmatch('W',M1.M_.endo_names,'exact'),2);
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if abs((unc_W_hand - planner_objective_value.unconditional)/unc_W_hand) > 1e-6;
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error('Inaccurate unconditional welfare assessment');
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end;
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if abs(cond_W_hand_L_SS - planner_objective_value.conditional.steady_initial_multiplier) > 1e-6;
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error('Inaccurate conditional welfare with Lagrange multiplier set to its steady-state value');
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end;
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if abs(oo_.mean(strmatch('U',M_.endo_names,'exact'))-oo1.oo_.mean(strmatch('U',M1.M_.endo_names,'exact')))>1e-6
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error('Utility inconsistent');
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end
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if abs(planner_objective_value.unconditional-oo_.mean(strmatch('U',M_.endo_names,'exact'))/(1-beta)) > 1e-6;
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error('Unconditional welfare assessment does not match utility');
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end;
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initial_condition_states = zeros(M1.M_.endo_nbr,M1.M_.maximum_lag);
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initial_condition_states(1:M1.M_.orig_endo_nbr,:) = repmat(oo1.oo_.dr.ys(1:M1.M_.orig_endo_nbr),1,M1.M_.maximum_lag);
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shock_matrix = zeros(1,M1.M_.exo_nbr);
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y_sim = simult_(M1.M_,options1.options_,initial_condition_states,oo1.oo_.dr,shock_matrix,options1.options_.order);
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cond_W_hand_L_0=y_sim(strmatch('W',M1.M_.endo_names,'exact'),2);
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if abs(cond_W_hand_L_0 - planner_objective_value.conditional.zero_initial_multiplier) > 1e-6;
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error('Inaccurate conditional welfare with zero Lagrange multiplier');
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end;
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