48 lines
1.2 KiB
PHP
48 lines
1.2 KiB
PHP
var c q m b u R uaux ca;
|
|
|
|
varexo eeps nnu;
|
|
|
|
parameters bbetaL ies crra gbar bbar eeta Rbar Rpers;
|
|
|
|
bbetaL = 0.98;
|
|
ies = 1.5;
|
|
crra = 12.0;
|
|
gbar = .01;
|
|
bbar = -.04;
|
|
eeta = 2.0;
|
|
Rbar = 1.03;
|
|
Rpers = .5;
|
|
|
|
model;
|
|
|
|
q = m(+1)*R(+1);
|
|
uaux = u(+1)^(1-crra);
|
|
m = bbetaL*exp(-gbar/ies)*uaux(-1)^((ies-1)/(ies*(1-crra))-1)*u^(1/ies-crra)*c^(-1/ies)/c(-1)^(-1/ies);
|
|
b = bbar*q^eeta*exp(nnu);
|
|
c + q*b*exp(gbar) = 1 + R*b(-1);
|
|
u = ( (1-bbetaL)*c^((ies-1)/ies) + bbetaL*exp(gbar*(ies-1)/ies)*uaux^((ies-1)/(ies*(1-crra))))^(ies/(ies-1));
|
|
R = (1-Rpers)*Rbar + Rpers*R(-1) + eeps;
|
|
ca = b*exp(gbar)-b(-1);
|
|
|
|
end;
|
|
|
|
steady_state_model;
|
|
R = Rbar;
|
|
m = bbetaL*exp(-gbar/ies);
|
|
q = bbetaL*exp(-gbar/ies)*Rbar;
|
|
b = bbar*(bbetaL*exp(-gbar/ies)*Rbar)^eeta;
|
|
c = 1 + Rbar*bbar*(bbetaL*exp(-gbar/ies)*Rbar)^eeta - exp(gbar)*bbar*(bbetaL*exp(-gbar/ies)*Rbar)^eeta*bbetaL*exp(-gbar/ies)*Rbar;
|
|
u = ((1-bbetaL)/(1-bbetaL*exp(gbar*(ies-1)/ies )) )^(ies/(ies-1))*(1 + Rbar*bbar*(bbetaL*exp(-gbar/ies)*Rbar)^eeta - exp(gbar)*bbar*(bbetaL*exp(-gbar/ies)*Rbar)^eeta*bbetaL*exp(-gbar/ies)*Rbar);
|
|
uaux = u^(1-crra);
|
|
ca = (exp(gbar)-1)*bbar*(bbetaL*exp(-gbar/ies)*Rbar)^eeta;
|
|
end;
|
|
|
|
resid;
|
|
steady(solve_algo=3);
|
|
|
|
estimated_params;
|
|
ies, normal_pdf, 1.5, .2;
|
|
end;
|
|
|
|
options_.plot_priors=0;
|