|
var Y P;
|
|
|
|
varexo EXO_Y;
|
|
|
|
parameters beta gamma rho y_ss;
|
|
|
|
beta = 0.95;
|
|
gamma= 0.5;
|
|
rho = 0.9;
|
|
y_ss = 2;
|
|
|
|
model;
|
|
Y-y_ss = rho*(Y(-1)-y_ss) + EXO_Y;
|
|
Y^(-gamma)*P = beta*Y(+1)^(-gamma)*(P(+1) + Y(+1));
|
|
end;
|
|
|
|
initval;
|
|
Y = 2;
|
|
P = 38;
|
|
end;
|
|
|
|
vcov = [
|
|
10
|
|
];
|
|
|
|
order = 7;
|