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var r ch cf c ph pf p r_m r_s s n k x l a y m w g f psi r_n;
varexo e_a e_f e_g e_s e_n e_m;
parameters gamma rho ch_c cf_c ph_p pf_p phi eta alpha kappa beta fai M lambda pc_phy pk_phy pg_phy sf_phy rho_pi rho_r rho_s rho_y psi_a psi_f psi_g psi_s;
ch_c=0.77;
cf_c=0.229;
ph_p=0.895;
pf_p=1.263;
pc_phy=0.351;
pk_phy =0.483;
pg_phy =0.129;
sf_phy=0.267;
gamma=0.77;
rho=2.5;
phi=0.004;
eta=0.7502;
alpha=0.42;
beta=0.96;
kappa=0.093;
rho_pi=0.131;
rho_r=0.98;
rho_s=0.054;
rho_y=0.78;
psi_a=0.6596;
psi_f=0.113;
psi_g=-0.111;
psi_s=-0.04;
M=3.899;
lambda=2.08;
fai=0.895;
model;
-c=r(+1)-expectation(0)(c(+1));
c=((gamma)^(1/rho))*(ch_c)^((rho-1)/rho)*ch+((1-gamma)^(1/rho))*(cf_c)^((rho-1)/rho)*cf;
p=gamma*((ph_p)^(1-rho))*ph+(1-gamma)*((pf_p)^(1-rho))*pf;
ch-cf=rho*pf-rho*ph;
expectation(0)(m(+1)-p)=r_m+expectation(0)(s(+1)-s)-phi*(ph+n-p-k);
m=y-x-k;
(eta/(1+eta))*y-x-c=l;
y=a+alpha*k+(1-alpha)*l;
w=-kappa*x+beta*w(+1);
ph + n = fai*M*(lambda*m-(lambda-1)*r_m+phi*(lambda-1)*(p(-1)+k(-1))+(1-phi*(lambda-1))*(ph(-1)+n(-1)));
ph + y = eta*(pc_phy*(p+c)+pk_phy*(p+k)+pg_phy*(p+g))+sf_phy*(s+f);
r(+1)-c(+1)=r(+1)+psi+s(+1)-s;
pf=s;
w=p-p(+1);
0= expectation(0)(r_n(+1)-w(+1)-r);
0= expectation(0)(r_m(+1)-w(+1)-r_s);
r_n=rho_pi*w+rho_r*r_n+rho_s*(s-s(-1))+rho_y*y+e_n;
r_m=0.97* r_m(-1)+ e_m;
a=psi_a*a(-1)+e_a;
f=psi_f*f(-1)+e_f;
g=psi_g*g(-1)+e_g;
s=psi_s*s(-1)+e_s;
end;
resid(1);
steady;
check;
shocks;
var e_a; stderr 0.01;
var e_f; stderr 0.01;
var e_g; stderr 0.01;
var e_s; stderr 0.01;
end;
stoch_simul(irf=12,periods=40) ;
>> addpath c:\dynare\4.4.3\matlab
>> dynare example1.mod
Configuring Dynare ...
[mex] Generalized QZ.
[mex] Sylvester equation solution.
[mex] Kronecker products.
[mex] Sparse kronecker products.
[mex] Local state space iteration (second order).
[mex] Bytecode evaluation.
[mex] k-order perturbation solver.
[mex] k-order solution simulation.
[mex] Quasi Monte-Carlo sequence (Sobol).
[mex] Markov Switching SBVAR.
Starting Dynare (version 4.4.3).
Starting preprocessing of the model file ...
Substitution of Expectation operator: added 5 auxiliary variables and equations.
Found 27 equation(s).
Evaluating expressions...done
Computing static model derivatives:
- order 1
Computing dynamic model derivatives:
- order 1
- order 2
Processing outputs ...done
Preprocessing completed.
Starting MATLAB/Octave computing.
Residuals of the static equations:
Equation number 1 : 0
Equation number 2 : 0
Equation number 3 : 0
Equation number 4 : 0
Equation number 5 : 0
Equation number 6 : 0
Equation number 7 : 0
Equation number 8 : 0
Equation number 9 : 0
Equation number 10 : 0
Equation number 11 : 0
Equation number 12 : 0
Equation number 13 : 0
Equation number 14 : 0
Equation number 15 : 0
Equation number 16 : 0
Equation number 17 : 0
Equation number 18 : 0
Equation number 19 : 0
Equation number 20 : 0
Equation number 21 : 0
Equation number 22 : 0
STEADY-STATE RESULTS:
r 0
ch 0
cf 0
c 0
ph 0
pf 0
p 0
r_m 0
r_s 0
s 0
n 0
k 0
x 0
l 0
a 0
y 0
m 0
w 0
g 0
f 0
psi 0
r_n 0
EIGENVALUES:
Modulus Real Imaginary
1.149e-16 -1.149e-16 0
5.767e-16 5.767e-16 0
7.947e-15 -7.947e-15 0
0.02374 0.02374 0
0.04 -0.04 0
0.111 -0.111 0
0.113 0.113 0
0.1775 0.03739 0.1735
0.1775 0.03739 -0.1735
0.6458 0.6458 0
0.6596 0.6596 0
0.97 0.97 0
1.337 1.337 0
3.445 3.445 0
5.361e+17 -5.361e+17 0
7.124e+19 -7.124e+19 0
3.617e+33 3.617e+33 0
There are 5 eigenvalue(s) larger than 1 in modulus
for 8 forward-looking variable(s)
The rank condition ISN'T verified!
错误使用 print_info (line 45)
Blanchard Kahn conditions are not satisfied: indeterminacy
出错 stoch_simul (line 98)
print_info(info, options_.noprint, options_);
出错 example1 (line 339)
info = stoch_simul(var_list_);
出错 dynare (line 180)
evalin('base',fname) ;
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