38 lines
595 B
Modula-2
38 lines
595 B
Modula-2
var i y pi;
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varexo e_y e_pi;
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parameters beta1 beta2 beta3 lambda1 lambda2 pi_bar;
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beta1 = 0.6;
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beta2 = 0.25;
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beta3 = -0.2;
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lambda1 = 0.7;
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lambda2 = 0.1;
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pi_bar = 2.0;
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model;
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y = beta1*y(-1) + beta2*y(+1) + beta3*(i-pi(+1)) + e_y;
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pi = lambda1*pi(+1) + (1-lambda1)*pi(-1) + lambda2*y + e_pi;
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end;
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planner_objective (pi-pi_bar)^2 + y^2;
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ramsey_model(planner_discount=1.0);
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histval;
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y(0) = -2.0;
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pi(0) = 1.0;
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end;
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steady;
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ramsey_constraints;
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i > 0;
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end;
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perfect_foresight_setup(periods=50);
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options_.stack_solve_algo = 7;
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options_.solve_algo = 10;
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perfect_foresight_solver;
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rplot i;
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