136 lines
4.8 KiB
Modula-2
136 lines
4.8 KiB
Modula-2
var labobs robs pinfobs dy dc dinve dw eta_w_ma eta_p_ma zcapf rkf kf pkf cf invef yf labf wf rrf mc zcap rk k_s q c i y l pinf w r eps_a eps_b eps_g eps_i eps_r eps_p eps_w kpf k;
|
|
|
|
varexo eta_a eta_b eta_g eta_i eta_r eta_p eta_w;
|
|
|
|
parameters curv_w rho_ga curv_p l_bar pi_bar beta_const Mu_w Mu_p alpha psi phi delta sigma_c lambda phi_p iota_w xi_w iota_p xi_p sigma_l phi_w r_pi r_dy r_y rho
|
|
rho_a rho_b rho_g rho_i rho_r rho_p rho_w gamma_bar G;
|
|
|
|
delta = 0.025;
|
|
phi_w = 1.5;
|
|
G = 0.18;
|
|
curv_p = 10;
|
|
curv_w = 10;
|
|
phi = 6.3325;
|
|
sigma_c = 1.2312;
|
|
lambda = 0.7205;
|
|
xi_w = 0.7937;
|
|
sigma_l = 2.8401;
|
|
xi_p = 0.7813;
|
|
iota_w = 0.4425;
|
|
iota_p = 0.3291;
|
|
psi = 0.2648;
|
|
phi_p = 1.4672;
|
|
r_pi = 1.7985;
|
|
rho = 0.8258;
|
|
r_y = 0.0893;
|
|
r_dy = 0.2239;
|
|
pi_bar = 0.7;
|
|
beta_const = 0.7420;
|
|
l_bar = 1.2918;
|
|
gamma_bar = 0.3982;
|
|
alpha = 0.24;
|
|
rho_a = .9676;
|
|
rho_b = .2703;
|
|
rho_g = .9930;
|
|
rho_i = .5724;
|
|
rho_r = .3;
|
|
rho_p = .8692;
|
|
rho_w = .9546;
|
|
Mu_p = .7652;
|
|
Mu_w = .8936;
|
|
rho_ga = 0.05;
|
|
|
|
model;
|
|
# PI_star = 1 + pi_bar/100;
|
|
# gamma = 1 + gamma_bar/100 ;
|
|
# beta = 1/(1 + beta_const/100);
|
|
# beta_bar = beta*gamma^(-sigma_c);
|
|
# Rk = (beta^(-1)) * (gamma^sigma_c) - (1-delta);
|
|
# W = (alpha^alpha*(1-alpha)^(1-alpha)/(phi_p*Rk^alpha))^(1/(1-alpha));
|
|
# I_K_bar = (1-(1-delta)/gamma);
|
|
# I_K = (1-(1-delta)/gamma)*gamma;
|
|
# L_K = ((1-alpha)/alpha)*(Rk/W);
|
|
# K_Y = phi_p*(L_K)^(alpha-1);
|
|
# I_Y = I_K * K_Y;
|
|
# C_Y = 1 - G - I_K*K_Y;
|
|
# Z_Y = Rk*K_Y;
|
|
# WL_C = (1/phi_w)*(1-alpha)/alpha*Rk*K_Y/C_Y;
|
|
# r_bar=((PI_star/(beta*gamma^(-sigma_c)))-1)*100;
|
|
eps_a = alpha * rkf + (1-alpha)*wf;
|
|
zcapf = (1/(psi/(1-psi))) * rkf;
|
|
rkf = (wf)+labf-kf;
|
|
kf = kpf(-1) + zcapf;
|
|
invef = (1/(1+beta_bar*gamma))*(invef(-1) + beta_bar*gamma*invef(1)+(1/(gamma^2*phi))*pkf) + eps_i;
|
|
pkf = ((1-delta)/(Rk+(1-delta))) * pkf(+1) + (Rk/(Rk+(1-delta))) * rkf(+1) + (-rrf) + (1/((1-lambda/gamma)/(sigma_c*(1+lambda/gamma)))) * eps_b ;
|
|
cf = (lambda/gamma)/(1+lambda/gamma)*cf(-1) + (1/(1+lambda/gamma))*cf(+1) +((sigma_c-1)*WL_C/(sigma_c*(1+lambda/gamma)))*(labf-labf(+1)) - (1-lambda/gamma)/(sigma_c*(1+lambda/gamma))*(rrf+0*eps_b) + eps_b ;
|
|
yf = C_Y*cf+I_Y*invef+eps_g + Z_Y*zcapf;
|
|
yf = phi_p*( alpha*kf+(1-alpha)*labf +eps_a );
|
|
wf = sigma_l*labf +(1/(1-lambda/gamma))*cf - (lambda/gamma)/(1-lambda/gamma)*cf(-1) ;
|
|
kpf = (1-I_K_bar)*kpf(-1)+(I_K_bar)*invef + (I_K_bar)*(gamma^2*phi)*eps_i ;
|
|
mc = alpha*rk + (1-alpha)*w - eps_a;
|
|
zcap = ((1 - psi)/psi) * rk;
|
|
rk = w + l - k_s;
|
|
k_s = k(-1) + zcap;
|
|
i = (1/(1 + beta_bar*gamma)) * (i(-1) + (beta_bar * gamma) * i(1) + (1/(gamma^2*phi)) * q) + eps_i;
|
|
q = ((1-delta)/(Rk+(1-delta)))*q(1) + (Rk/(Rk+(1-delta))) * rk(1) - r + pinf(+1) + (1/((1-lambda/gamma)/(sigma_c*(1+lambda/gamma)))) * eps_b ;
|
|
c = (lambda/gamma)/(1+lambda/gamma) * c(-1) + (1/(1+lambda/gamma)) * c(+1) + ((sigma_c-1)*WL_C/(sigma_c*(1+lambda/gamma))) * (l - l(+1)) - (1-lambda/gamma)/(sigma_c*(1+lambda/gamma)) * (r - pinf(+1)) + eps_b;
|
|
y = C_Y * c + I_Y * i + eps_g + Z_Y * zcap;
|
|
y = phi_p * (alpha * k_s + (1-alpha) * l + eps_a);
|
|
pinf = (1/(1+beta_bar*gamma*iota_p)) * (beta_bar*gamma*pinf(+1) + iota_p * pinf(-1) + ((1-xi_p)*(1-beta_bar*gamma*xi_p)/xi_p)/((phi_p-1)*curv_p+1) * mc) + eps_p ;
|
|
w = (1/(1+beta_bar*gamma))*w(-1)
|
|
+(beta_bar*gamma/(1+beta_bar*gamma))*w(1)
|
|
+(iota_w/(1+beta_bar*gamma))*pinf(-1)
|
|
-(1+beta_bar*gamma*iota_w)/(1+beta_bar*gamma)*pinf
|
|
+(beta_bar*gamma)/(1+beta_bar*gamma)*pinf(1)
|
|
+(1-xi_w)*(1-beta_bar*gamma*xi_w)/((1+beta_bar*gamma)*xi_w)*(1/((phi_w-1)*curv_w+1))*
|
|
(sigma_l*l + (1/(1-lambda/gamma))*c - ((lambda/gamma)/(1-lambda/gamma))*c(-1) -w)
|
|
+ 1*eps_w ;
|
|
r = r_pi * (1-rho) * pinf + r_y * (1-rho) * (y-yf) + r_dy * ( y - yf - (y(-1) - yf(-1))) + rho * r(-1) + eps_r;
|
|
eps_a = rho_a * eps_a(-1) + eta_a;
|
|
eps_b = rho_b * eps_b(-1) + eta_b;
|
|
eps_g = rho_g * eps_g(-1) + eta_g + rho_ga * eta_a;
|
|
eps_i = rho_i * eps_i(-1) + eta_i;
|
|
eps_r = rho_r * eps_r(-1) + eta_r;
|
|
eps_p = rho_p * eps_p(-1) + eta_p_ma - Mu_p * eta_p_ma(-1);
|
|
eta_p_ma = eta_p;
|
|
eps_w = rho_w * eps_w(-1) + eta_w_ma - Mu_w * eta_w_ma(-1);
|
|
eta_w_ma = eta_w;
|
|
k = (1-I_K_bar) * k(-1) + I_K_bar * i + I_K_bar*gamma^2*phi*eps_i;
|
|
dy = y - y(-1) + gamma_bar;
|
|
dc = c - c(-1) + gamma_bar;
|
|
dinve = i - i(-1) + gamma_bar;
|
|
dw = w - w(-1) + gamma_bar;
|
|
pinfobs = pinf + pi_bar;
|
|
robs = r + r_bar;
|
|
labobs = l + l_bar;
|
|
end;
|
|
|
|
shocks;
|
|
var eta_a;
|
|
periods 100;
|
|
values -.5;
|
|
end;
|
|
|
|
steady;
|
|
|
|
check;
|
|
|
|
perfect_foresight_setup(periods=300);
|
|
perfect_foresight_solver;
|
|
|
|
endo_simul_0 = oo_.endo_simul;
|
|
if ~oo_.deterministic_simulation.status
|
|
error('Perfect foresight simulation failed')
|
|
end
|
|
|
|
perfect_foresight_setup(periods=300);
|
|
perfect_foresight_solver(linear_approximation, stack_solve_algo=7);
|
|
endo_simul_1 = oo_.endo_simul;
|
|
if ~oo_.deterministic_simulation.status
|
|
error('Perfect foresight simulation failed')
|
|
end
|
|
|
|
if max(abs(endo_simul_0(:)-endo_simul_1(:)))>.01*options_.dynatol.f
|
|
error('Something is wrong!')
|
|
end
|