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    Tema 8

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    MaríaDelCarmenRiveroArdaya
    This document summarizes the results of running two Dynare models (model7a and model1). Key results include: 1) Model7a was run and produced steady state and dynamic results including eigenvalues. 2) Model1 was then run and provided additional output including steady state solutions, eigenvalues, variance/covariance matrices, moments, and autocorrelation of simulated variables. 3) Both models were run using the Dynare version 4.6.4 software package to estimate dynamic stochastic general equilibrium (DSGE) models.

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    Tema 8

    Uploaded by

    MaríaDelCarmenRiveroArdaya
    11 views10 pages
    This document summarizes the results of running two Dynare models (model7a and model1). Key results include: 1) Model7a was run and produced steady state and dynamic results including eigenvalues. 2) Model1 was then run and provided additional output including steady state solutions, eigenvalues, variance/covariance matrices, moments, and autocorrelation of simulated variables. 3) Both models were run using the Dynare version 4.6.4 software package to estimate dynamic stochastic general equilibrium (DSGE) models.

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    Tema 8 (1)

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    This document summarizes the results of running two Dynare models (model7a and model1). Key results include: 1) Model7a was run and produced steady state and dynamic results including eigenvalues. 2) Model1 was then run and provided additional output including steady state solutions, eigenvalues, variance/covariance matrices, moments, and autocorrelation of simulated variables. 3) Both models were run using the Dynare version 4.6.4 software package to estimate dynamic stochastic general equilibrium (DSGE) models.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    11 views10 pages

    Tema 8

    Uploaded by

    MaríaDelCarmenRiveroArdaya
    This document summarizes the results of running two Dynare models (model7a and model1). Key results include: 1) Model7a was run and produced steady state and dynamic results including eigenvalues. 2) Model1 was then run and provided additional output including steady state solutions, eigenvalues, variance/covariance matrices, moments, and autocorrelation of simulated variables. 3) Both models were run using the Dynare version 4.6.4 software package to estimate dynamic stochastic general equilibrium (DSGE) models.

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    of 10

    Tema 8

    >> addpath c:\dynare\4.6.4\matlab

    >> dynare

    This is Dynare version 4.6.4.

    USAGE: dynare FILENAME[.mod,.dyn] [OPTIONS]

    The dynare command executes instruction included in FILENAME.mod.

    See the reference manual for the available options.

    >> dynare model7a

    Using 64-bit preprocessor

    Starting Dynare (version 4.6.4).

    Calling Dynare with arguments: none

    Starting preprocessing of the model file ...

    WARNING: model7a.mod:83.1-18: The 'simul' statement is deprecated. Please use


    'perfect_foresight_setup' and 'perfect_foresight_solver' instead.

    Found 9 equation(s).

    Evaluating expressions...done

    Computing static model derivatives (order 1).

    Computing dynamic model derivatives (order 1).

    Processing outputs ...

    done

    Preprocessing completed.

    STEADY-STATE RESULTS:

    Y 0.503065

    Cp 0.347017
    Cg 0.0503065

    I 0.105742

    K 1.76237

    L 0.256122

    R 0.0999069

    W 1.27671

    A 1

    EIGENVALUES:

    Modulus Real Imaginary

    0.8935 0.8935 0

    0.95 0.95 0

    1.175 1.175 0

    3.656e+18 3.656e+18 0

    7.076e+18 7.076e+18 0

    There are 3 eigenvalue(s) larger than 1 in modulus

    for 3 forward-looking variable(s)

    The rank condition is verified.

    STEADY-STATE RESULTS:

    Y 0.508175

    Cp 0.340378

    Cg 0.060981

    I 0.106816

    K 1.78027
    L 0.258723

    R 0.0999069

    W 1.27671

    A 1

    --------------------------------------------------------

    MODEL SIMULATION:

    Iter: 1, err. = 0.0168267, time = 0.023

    Iter: 2, err. = 8.06306e-06, time = 0.002

    Total time of simulation: 0.033.

    --------------------------------------------------------

    Perfect foresight solution found.

    Total computing time : 0h00m01s

    Note: 1 warning(s) encountered in the preprocessor

    >>
    Modelo 1

    >> addpath c:\dynare\4.6.4\matlab

    >> dynare

    This is Dynare version 4.6.4.

    USAGE: dynare FILENAME[.mod,.dyn] [OPTIONS]

    The dynare command executes instruction included in FILENAME.mod.

    See the reference manual for the available options.

    >> dynare model1

    Using 64-bit preprocessor

    Starting Dynare (version 4.6.4).


    Calling Dynare with arguments: none

    Starting preprocessing of the model file ...

    Found 8 equation(s).

    Evaluating expressions...done

    Computing static model derivatives (order 1).

    Computing dynamic model derivatives (order 2).

    Processing outputs ...

    done

    Preprocessing completed.

    STEADY-STATE RESULTS:

    Y 0.744697

    C 0.572708

    I 0.17199

    K 2.86649

    L 0.360396

    W 1.34312

    R 0.0909278

    A 1

    EIGENVALUES:

    Modulus Real Imaginary

    0.8866 0.8866 0

    0.95 0.95 0

    1.163 1.163 0

    3.654e+17 3.654e+17 0
    There are 2 eigenvalue(s) larger than 1 in modulus

    for 2 forward-looking variable(s)

    The rank condition is verified.

    MODEL SUMMARY

    Number of variables: 8

    Number of stochastic shocks: 1

    Number of state variables: 2

    Number of jumpers: 2

    Number of static variables: 4

    MATRIX OF COVARIANCE OF EXOGENOUS SHOCKS

    Variables e

    e 0.000100

    POLICY AND TRANSITION FUNCTIONS

    Y C I K L W R A

    Constant 0.744720 0.572684 0.172036 2.866541 0.360413


    1.343093 0.090931 1.000000

    (correction) 0.000022 -0.000024 0.000047 0.000047 0.000017 -


    0.000022 0.000003 0

    K(-1) 0.055192 0.108550 -0.053358 0.886642 -0.026607


    0.198700 -0.024982 0

    A(-1) 0.923502 0.310584 0.612918 0.612918 0.160849


    1.066152 0.112760 0.950000

    e 0.972107 0.326930 0.645177 0.645177 0.169315 1.122265


    0.118695 1.000000

    K(-1),K(-1) -0.010755 -0.006593 -0.004162 -0.004162 0.003261 -


    0.016880 0.007402 0
    A(-1),K(-1) 0.103492 0.037612 0.065880 0.065880 0.014220
    0.123689 -0.026701 0

    A(-1),A(-1) 0.022419 -0.025734 0.048153 0.048153 -0.110384 -


    0.024028 0.002737 -0.023750

    e,e 0.536477 0.143555 0.392922 0.392922 -0.033195


    0.564042 0.065504 0.500000

    K(-1),e 0.108939 0.039592 0.069348 0.069348 0.014968


    0.130198 -0.028106 0

    A(-1),e 1.019306 0.272754 0.746552 0.746552 -0.063071


    1.071680 0.124458 0.950000

    MOMENTS OF SIMULATED VARIABLES

    VARIABLE MEAN STD. DEV. VARIANCE SKEWNESS KURTOSIS

    Y 0.731346 0.037014 0.001370 0.384737 0.471473

    C 0.562709 0.024726 0.000611 0.397172 0.543601

    I 0.168636 0.014465 0.000209 0.180973 0.292552

    K 2.806982 0.145057 0.021042 0.426100 0.609367

    L 0.360218 0.003138 0.000010 -0.371734 0.599870

    W 1.319438 0.060682 0.003682 0.398708 0.523330

    R 0.091228 0.002260 0.000005 -0.375107 0.797186

    A 0.989366 0.031219 0.000975 0.276122 0.334508

    CORRELATION OF SIMULATED VARIABLES

    VARIABLE Y C I K L W R A

    Y 1.0000 0.9682 0.9039 0.9154 0.5893 0.9882 0.2139 0.9919

    C 0.9682 1.0000 0.7681 0.9870 0.3687 0.9951 -0.0370 0.9290

    I 0.9039 0.7681 1.0000 0.6553 0.8776 0.8278 0.6105 0.9503

    K 0.9154 0.9870 0.6553 1.0000 0.2148 0.9662 -0.1968 0.8574

    L 0.5893 0.3687 0.8776 0.2148 1.0000 0.4590 0.9149 0.6864

    W 0.9882 0.9951 0.8278 0.9662 0.4590 1.0000 0.0622 0.9611

    R 0.2139 -0.0370 0.6105 -0.1968 0.9149 0.0622 1.0000 0.3352


    A 0.9919 0.9290 0.9503 0.8574 0.6864 0.9611 0.3352 1.0000

    AUTOCORRELATION OF SIMULATED VARIABLES

    VARIABLE 1 2 3 4 5

    Y 0.9666 0.9314 0.8936 0.8579 0.8245

    C 0.9898 0.9759 0.9579 0.9374 0.9150

    I 0.9028 0.8092 0.7173 0.6398 0.5760

    K 0.9957 0.9870 0.9738 0.9570 0.9372

    L 0.8469 0.7027 0.5634 0.4518 0.3634

    W 0.9826 0.9620 0.9378 0.9126 0.8867

    R 0.8479 0.7047 0.5674 0.4581 0.3713

    A 0.9498 0.8993 0.8474 0.8011 0.7600

    Total computing time : 0h00m03s

    >>

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