45 lines
1.1 KiB
Modula-2
45 lines
1.1 KiB
Modula-2
var Capital , Output, Labour, Consumption, Efficiency, efficiency ;
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varexo EfficiencyInnovation;
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parameters beta, theta, tau, alpha, Epsilon, delta, rho, effstar, sigma;
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beta = 0.990;
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theta = 0.357;
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tau = 30.000;
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alpha = 0.450;
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delta = 0.020;
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rho = 0.950;
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effstar = 1.500;
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sigma = 0.010;
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Epsilon = 0.500;
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model;
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#Psi = (Epsilon-1)/Epsilon;
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// Eq. n°1:
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efficiency = rho*efficiency(-1) + sigma*EfficiencyInnovation;
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// Eq. n°2:
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Efficiency = effstar*exp(efficiency);
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// Eq. n°3:
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Output = Efficiency*(alpha*Capital(-1)^Psi+(1-alpha)*Labour^Psi)^(1/Psi);
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// Eq. n°4:
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Consumption + Capital - Output - (1-delta)*Capital(-1);
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// Eq. n°5:
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((1-theta)/theta)*(Consumption/(1-Labour)) - (1-alpha)*Efficiency^((1-Psi))*(alpha*(Capital(-1)/Labour)^Psi+1-alpha)^((1-Psi)/Psi);
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// Eq. n°6:
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(((Consumption^theta)*((1-Labour)^(1-theta)))^(1-tau))/Consumption
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- beta*(Consumption(1)^theta*(1-Labour(1))^(1-theta))^(1-tau)/Consumption(1)*(alpha*Efficiency(1)^Psi*(Output(1)/Capital)^(1-Psi)+1-delta);
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end;
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shocks;
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var EfficiencyInnovation = 1;
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end;
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