ACES LQ Implementation Interface Requirements
User options when invoking and running ACES Linear Quadratic approximation
Those user optinos need to be provided as a part of ACES LQ integration and its interface with Dynare. When not specified as interactive it is expected to be provided as a part of the model file model specification.
Option |
Meaning and description |
Poss./Def. val (in bold) |
Ineractive [1] |
planner_discount |
as currently used in Ramsey |
0.1-0.99 |
|
instruments |
as currently used in Ramsey |
|
|
use_aces_lq_solver |
option to invoke ACES LQ unless separate application used |
|
|
aceslq_seedvar |
Choice of variable(s) that characterises the initial guess of the steady state of the state – used in the MATLAB steady state solver (may differ from the choice of the instrument) |
User choice |
|
aceslq_lambda_w |
search Relaxation weight – used in the main work of relaxation method (MATLAB_LQ) |
0.5 |
M |
aceslq_maxiter |
Maximum number of relaxation iteration |
500 |
M |
aceslq_accuracy |
Accuracy used to compare real numbers (ACES) |
A small real number e.g. 1E-6 |
|
aceslq_ubound |
Specifies the upper bounds in the NAG search (ACES) |
User’s choice as an option if ibound=0 |
|
aceslq_lbound |
Specifies the lower bounds in the NAG search (ACES) |
User’s choice as an option if ibound=0 |
|
aceslq_igrid |
Used to ask for a grid search in SIM (ACES) – SETGD subroutine required if igrid=0 |
1 – grid search not required but user must provide the exact values of coefficients used in the simple rule |
F&M |
aceslq_ITMAX_OPT |
max no of iteration in OPT (ACES) |
20 |
|
aceslq_ITMAX_TCT |
max no of iteration in TCT (ACES) |
5000 |
|
aceslq_ITMAX_SIM |
max no of iteration in SIM (ACES) |
1000 |
|
aceslq_SIM_search_step_size |
optional initial_SIM search step_size |
0.5 |
F&M |
aceslq_min_SIM_search_step_size |
optional minimal SIM search step_size |
0.01 |
F&M |
Choose Optimiser |
Choose Optimiser or exit |
|
M |
|
Expected for later releases: |
|
|
aceslq_MCMC_model |
model to be used in Optimal Simple Robust Rules function:i.e. original estimation model name for the MCMC draws |
<model_name> |
|
aceslq_MCMC_selection_method |
Choose selection method: random |
random or fixed |
|
aceslq_MCMC_draw_interva |
for Fixed: what draws to select interval |
10 |
|
aceslq_MCMC_draw_number |
how many |
5000 |
|
aceslq_MCMC_start_end |
and from which end: options |
start or end |
|
Notes [1]: M-Matlab only, F&M- Fortan and Matlab