50 lines
1.5 KiB
Modula-2
50 lines
1.5 KiB
Modula-2
/* Mod file tests the correctness of the Ramsey command when Auxiliary variables for AR2 are used
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* The example is adapted from Juillard, Michel (2011): User manual for optimal policy package,
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* MONFISPOL FP7 project SSH-225149, Deliverable 1.1.2
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*/
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var pai, c, n, r, a;
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varexo u;
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parameters beta, rho, epsilon, omega, phi, gamma;
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beta=0.99;
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gamma=3;
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omega=17;
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epsilon=8;
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phi=1;
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rho=0.95;
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model;
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log(a) = rho*log(a(-2))+u;
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1/c = beta*r/(c(+1)*pai(+1));
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pai*(pai-1)/c = beta*pai(+1)*(pai(+1)-1)/c(+1)+epsilon*phi*n^(gamma+1)/omega -a*n*(epsilon-1)/(omega*c);
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a*n = c+(omega/2)*(pai-1)^2;
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end;
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initval;
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r=1;
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end;
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initval;
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a = 1;
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pai = beta;
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c = 0.9665;
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n = 0.9673;
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end;
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shocks;
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var u; stderr 0.008;
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end;
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planner_objective(ln(c)-phi*((n^(1+gamma))/(1+gamma)));
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ramsey_policy(planner_discount=0.99,order=1,instruments=(r));
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oo_ramsey_policy_initval_AR2=oo_;
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stoch_simul(periods=0, order=1, irf=25, nograph);
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if max(abs((oo_ramsey_policy_initval_AR2.steady_state-oo_.steady_state)))>1e-5 ...
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|| max(abs(oo_ramsey_policy_initval_AR2.dr.ys-oo_.dr.ys))>1e-5 ...
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|| max(max(abs(oo_ramsey_policy_initval_AR2.dr.ghx-oo_.dr.ghx)))>1e-5 ...
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|| max(max(abs(oo_ramsey_policy_initval_AR2.dr.ghu-oo_.dr.ghu)))>1e-5 ...
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|| max(max(abs(oo_ramsey_policy_initval_AR2.dr.Gy-oo_.dr.Gy)))>1e-5 ...
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|| max(abs((oo_ramsey_policy_initval_AR2.planner_objective_value-oo_.planner_objective_value)))>1e-5
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error('Running stoch_simul after ramsey_policy leads to inconsistent results')
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end |