37 lines
710 B
Modula-2
37 lines
710 B
Modula-2
var y i pi pi_c q;
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varexo g u e;
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parameters omega sigma beta kappa alpha;
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eta = 1;
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alpha = 0.4;
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beta = 0.99;
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theta = 0.75;
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sigma = 1;
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phi = 3;
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omega = 1+alpha*(2-alpha)*(sigma*eta-1);
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kappa = (1-theta)*(1-beta*theta)*(phi+sigma/omega)/theta;
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model(linear);
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y = y(+1) -(omega/sigma)*(i-pi(+1))+g;
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pi = beta*pi(+1)+kappa*y+u;
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pi_c = pi+(alpha/(1-alpha))*(q-q(-1));
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q = q(+1)-(1-alpha)*(i-pi(+1))+(1-alpha)*e;
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% i = 1.5*pi;
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end;
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shocks;
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var g; stderr 1;
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var u; stderr 1;
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var e; stderr 1;
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end;
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planner_objective pi_c^2 + y^2;
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resid;
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discretionary_policy(instruments=(i),irf=0,planner_discount=beta, periods=200);
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// Generate data used by dennis_1_estim.mod
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datatomfile('dennis_simul', {'y'; 'i'; 'pi';});
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