47 lines
865 B
Modula-2
47 lines
865 B
Modula-2
// Example 1 from Collard's guide to Dynare
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var y, c, k, a, h, b;
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varexo e, u;
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parameters beta, rho, alpha, delta, theta, psi, tau;
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alpha = 0.36;
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rho = 0.95;
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tau = 0.025;
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beta = 0.99;
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delta = 0.025;
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psi = 0;
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theta = 2.95;
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phi = 0.1;
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model;
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c*theta*h^(1+psi)=(expectation(1)((1-alpha)*y)+expectation(-2)((1-alpha)*y))/2;
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k = beta*(((exp(b)*c)/(exp(b(+1))*c(+1)))
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*(exp(b(+1))*alpha*y(+1)+(1-delta)*k));
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y = exp(a)*(k(-1)^alpha)*(h^(1-alpha));
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k = exp(b)*(y-c)+(1-delta)*k(-1);
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a = rho*a(-1)+tau*b(-1) + e;
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b = tau*a(-1)+rho*b(-1) + u;
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end;
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steady_state_model;
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a = 0;
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b = 0;
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h = 1/3;
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k = ((1/beta-(1-delta))/(alpha*h^(1-alpha)))^(1/(alpha-1));
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y = k^alpha*h^(1-alpha);
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c = y - delta*k;
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theta = (1-alpha)*y/(c*h^(1+psi));
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end;
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steady;
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shocks;
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var e; stderr 0.009;
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var u; stderr 0.009;
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var e, u = phi*0.009*0.009;
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end;
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stoch_simul(order=1,irf=0);
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