46 lines
878 B
Modula-2
46 lines
878 B
Modula-2
// Example 1 from Collard's guide to Dynare
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var h, c, y, k, a, b;
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varexo e, u;
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parameters beta, rho, alpha, delta, theta, psi, tau;
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alpha = 0.36;
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rho = 0.95;
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tau = 0.025;
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beta = 0.99;
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delta = 0.025;
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psi = 0;
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theta = 2.95;
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phi = 0.1;
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model;
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c*theta*exp(h)^(1+psi)=(1-alpha)*y;
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exp(k) = beta*(((exp(b)*c)/(exp(b(+1))*c(+1)))
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*(exp(b(+1))*alpha*y(+1)+(1-delta)*exp(k)));
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y = exp(a)*(exp(k(-1))^alpha)*(exp(h)^(1-alpha));
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exp(k) = exp(b)*(y-c)+(1-delta)*exp(k(-1));
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a = rho*a(-1)+tau*b(-1) + e;
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b = tau*a(-1)+rho*b(-1) + u;
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end;
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steady_state_model;
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a = 0;
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b = 0;
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k_h = ((1-beta*(1-delta))/(beta*alpha))^(1/(alpha-1));
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y_h = k_h^alpha;
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c_h = y_h - delta*k_h;
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h = log((y_h*(1-alpha)/(c_h*theta))^(1/(1+psi)));
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k = log(k_h*exp(h));
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c = c_h*exp(h);
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y = y_h*exp(h);
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end;
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shocks;
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var e; stderr 0.009;
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var u; stderr 0.009;
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var e, u = phi*0.009*0.009;
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end;
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stoch_simul;
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