55 lines
907 B
Modula-2
55 lines
907 B
Modula-2
var Efficiency, efficiency;
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varexo EfficiencyInnovation;
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parameters rho, effstar, sigma2;
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/*
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** Calibration
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*/
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rho = 0.950;
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effstar = 1.000;
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sigma2 = 0.0001;
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external_function(name=mean_preserving_spread);
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model;
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// Eq. n°1:
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efficiency = rho*efficiency(-1) + EfficiencyInnovation;
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// Eq. n°2:
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Efficiency = effstar*exp(efficiency-mean_preserving_spread(rho));
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end;
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shocks;
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var EfficiencyInnovation = sigma2;
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end;
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steady;
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options_.ep.verbosity = 0;
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options_.ep.stochastic = 0;
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options_.ep.order = 0;
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options_.ep.nnodes = 0;
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options_.console_mode = 0;
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ts = extended_path([],100);
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options_.ep.verbosity = 0;
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options_.ep.stochastic = 1;
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options_.ep.order = 1;
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options_.ep.nnodes = 5;
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options_.console_mode = 0;
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sts = extended_path([],100);
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if max(max(abs(ts-sts)))>1e-12
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disp('Stochastic Extended Path:: Something is wrong here (potential bug in extended_path.m)!!!')
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end |