55 lines
1.7 KiB
Modula-2
55 lines
1.7 KiB
Modula-2
/* Tests the deprecated ramsey_policy command.
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*
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* The example is taken 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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a = rho*a(-1)+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 -exp(a)*n*(epsilon-1)/(omega*c);
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exp(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 = 0;
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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,instruments=(r),order=1,nograph);
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benchmark = load('../optimal_policy/Ramsey/ramsey_ex_initval/Output/ramsey_ex_initval_results.mat');
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if any( [ max(abs(benchmark.oo_.steady_state-oo_.steady_state))>1e-5, ...
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max(abs(benchmark.oo_.dr.ys-oo_.dr.ys))>1e-5, ...
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max(max(abs(benchmark.oo_.dr.ghx-oo_.dr.ghx)))>1e-5, ...
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max(max(abs(benchmark.oo_.dr.ghu-oo_.dr.ghu)))>1e-5, ...
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max(max(abs(benchmark.oo_.dr.Gy-oo_.dr.Gy)))>1e-5, ...
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abs(benchmark.oo_.planner_objective_value.unconditional-oo_.planner_objective_value.unconditional)>1e-5, ...
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abs(benchmark.oo_.planner_objective_value.conditional.zero_initial_multiplier-oo_.planner_objective_value.conditional.zero_initial_multiplier)>1e-5, ...
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abs(benchmark.oo_.planner_objective_value.conditional.steady_initial_multiplier-oo_.planner_objective_value.conditional.steady_initial_multiplier)>1e-5] )
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error('ramsey_policy gives results inconsistent with ramsey_model+stoch_simul+evaluate_planner_objective')
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end
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