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