// THE MACROECONOMICS EFFECTS OF LSAP PROGRAMS - 3 TIPOS!!!!!!!chamei G de g do processo exogeno tb transformei as eq exogenas em desvios!! // MUDEI A POLÍTICA FICAL!!!!SUBSTITUI OS VALORES DOS PARAMETROS PELOS DA MEDIANA DA PRIOR ESTIMATION - SHOCKS NA QTD DE BONDS var z theta_u theta_r1 theta_r2 theta_r3 lambda_f_t mu b_u b_r1 b_r2 b_r3 g e_zeta_r1 e_zeta_r2 e_zeta_r3 mc r_k w K L Y X_pn_u phi X_pn_r1 X_pn_r2 X_pn_r3 ksi_u ksi_r1 ksi_r2 ksi_r3 X_pd_u X_pd_r1 X_pd_r2 X_pd_r3 u K_barra I q C_u C_r1 C_r2 C_r3 zeta_r1_t zeta_r2_t zeta_r3_t r r_L1 r_L2 r_L3 X_wn_u X_wn_r1 X_wn_r2 X_wn_r3 X_wd_u X_wd_r1 X_wd_r2 X_wd_r3 B B_L1 B_L2 B_L3 T RP_r1 RP_r2 RP_r3 Dur choque MV_B_L1 MV_B_L2 MV_B_L3; varexo e_z e_theta_u e_theta_r1 e_theta_r2 e_theta_r3 e_lambda_f_t e_mu e_b_u e_b_r1 e_b_r2 e_b_r3 e_g e_m erro_zeta_r1 erro_zeta_r2 erro_zeta_r3 e_T e_B1 e_B2 e_B3; parameters gamma pi beta_u zeta_r1 zeta_r2 zeta_r3 S_2_linhas a_2_linhas h sigma_u sigma_r1 sigma_r2 sigma_r3 zeta_linha_r1 zeta_linha_r2 zeta_linha_r3 omega_u omega_r1 omega_r2 omega_r3 ksi_r1_ss ksi_r2_ss ksi_r3_ss c_r1 c_r2 c_r3 chi_w_u chi_w_r1 chi_w_r2 chi_w_r3 v zeta_w zeta_p phi_T rho_r phi_pi phi_y rho_z rho_mu rho_b rho_phi rho_B1 rho_B2 rho_B3 rho_zeta_r1 rho_zeta_r2 rho_zeta_r3 rho_g alpha delta beta_r1 beta_r2 beta_r3 beta_barra r_k_ss R_L1 R_L2 R_L3 kappa_1 kappa_2 kappa_3 B_L1_ss B_L2_ss B_L3_ss B_ss G_ss Y_ss T_ss I_ss C_u_ss C_r1_ss C_r2_ss C_r3_ss K_barra_ss lambda_f lambda_w DUR_ss; gamma=2.4667/400; pi=1+1.9585/400; beta_u=((.9792/400)+1)^-1; zeta_r1 = 0.001806; zeta_r2 = .3/400; zeta_r3 = .45/400; beta_r1 = beta_u/(1+zeta_r1); beta_r2 = beta_u/(1+zeta_r2); beta_r3 = beta_u/(1+zeta_r3); S_2_linhas=3.9170; a_2_linhas=.1836; h=.6029; sigma_u=1.8360; sigma_r1=sigma_u; sigma_r2=sigma_u; sigma_r3=sigma_u; zeta_linha_r1 = zeta_r1/(.16*(7/9)); zeta_linha_r2 = zeta_r2/(.16*(1/9)); zeta_linha_r3 = zeta_r3/(.16*(1/9)); omega_u=.7334; omega_r1=(1-omega_u)*(7/9); omega_r2=(1-omega_u)/9; omega_r3=(1-omega_u)/9; ksi_r1_ss=1; ksi_r2_ss=1; ksi_r3_ss=1; c_r1=(ksi_r1_ss*( (1-beta_u*h)/(1-beta_r1*h) ))^(-1/sigma_u); c_r2=(ksi_r2_ss*( (1-beta_u*h)/(1-beta_r2*h) ))^(-1/sigma_u); c_r3=(ksi_r3_ss*( (1-beta_u*h)/(1-beta_r3*h) ))^(-1/sigma_u); chi_w_u=omega_u; chi_w_r1=omega_r1; chi_w_r2=omega_r2; chi_w_r3=omega_r3; v=1.9585; zeta_w=.7595; zeta_p=.7595; phi_T=1.4448; rho_r=.7068; phi_pi=1.7026; phi_y=.3672; rho_z=.3857; rho_mu=.7595; rho_b=.7595; rho_phi=.7595; rho_B1=.8135; rho_B2=.8135; rho_B3=.8135; rho_zeta_r1=.8135; rho_zeta_r2=.8135; rho_zeta_r3=.8135; rho_g=.7595; alpha=.33; delta=.025; beta_barra = (omega_u*beta_u + omega_r1*beta_r1*ksi_r1_ss + omega_r2*beta_r2*ksi_r2_ss + omega_r3*beta_r3*ksi_r3_ss)/(omega_u + omega_r1*ksi_r1_ss + omega_r2*ksi_r2_ss + omega_r3*ksi_r3_ss ); r_k_ss=(beta_barra^-1)*exp(gamma)-(1-delta); R_L1 = (exp(gamma)*pi*beta_u^-1)*(1+zeta_r1); R_L2 = (exp(gamma)*pi*beta_u^-1)*(1+zeta_r2); R_L3 = (exp(gamma)*pi*beta_u^-1)*(1+zeta_r3); kappa_1 = R_L1*(1-1/30); kappa_2 = R_L2*(1-1/12); kappa_3 = R_L3*(1-1/18); B_L1_ss = (R_L1 - kappa_1)*zeta_r1*(1/zeta_linha_r1); B_L2_ss = (R_L2 - kappa_2)*zeta_r2*(1/zeta_linha_r2); B_L3_ss = (R_L3 - kappa_3)*zeta_r3*(1/zeta_linha_r3); B_ss = .16; G_ss = .185; Y_ss = 1; T_ss = G_ss + (beta_u^-1 -1)*B_ss + B_L1_ss*( (R_L1/((R_L1-kappa_1)*exp(gamma)*pi)) -(1/(R_L1-kappa_1))) + B_L2_ss*( (R_L2/((R_L2-kappa_2)*exp(gamma)*pi)) -(1/(R_L2-kappa_2))) + B_L3_ss*( (R_L3/((R_L3-kappa_3)*exp(gamma)*pi)) -(1/(R_L3-kappa_3))); I_ss = .16; C_u_ss = (Y_ss-I_ss-G_ss)/( omega_u + omega_r1*c_r1 + omega_r2*c_r2 + omega_r3*c_r3 ); C_r1_ss = (Y_ss-I_ss-G_ss)/(omega_r1+omega_u*(1/c_r1) + omega_r2*(c_r2/c_r1) + omega_r3*(c_r3/c_r1) ); C_r2_ss = (Y_ss-I_ss-G_ss)/(omega_r2+omega_u*(1/c_r2) + omega_r1*(c_r1/c_r2) + omega_r3*(c_r3/c_r2) ); C_r3_ss = (Y_ss-I_ss-G_ss)/(omega_r3+omega_u*(1/c_r3) + omega_r1*(c_r1/c_r3) + omega_r2*(c_r2/c_r3) ); lambda_f = (exp(gamma)-(1-delta))*alpha*(r_k_ss^-1)/I_ss-1; K_barra_ss = exp(gamma)*(alpha/(1+lambda_f))*((r_k_ss)^(-1)); lambda_w = .05; DUR_ss=(B_ss + (1/(R_L1-kappa_1))*B_L1_ss*(R_L1/(R_L1-kappa_1)) + (1/(R_L2-kappa_2))*B_L2_ss*(R_L2/(R_L2-kappa_2)) + (1/(R_L3-kappa_3))*B_L3_ss*(R_L3/(R_L3-kappa_3)) )/(B_ss + B_L1_ss*(1/(R_L1-kappa_1)) + B_L2_ss*(1/(R_L2-kappa_2)) + B_L3_ss*(1/(R_L3-kappa_3))); model (linear); z = rho_z*z(-1)+e_z; theta_u = rho_phi*theta_u(-1)+e_theta_u; theta_r1 =rho_phi*theta_r1(-1)+e_theta_r1; theta_r2 = rho_phi*theta_r2(-1)+e_theta_r2; theta_r3 = rho_phi*theta_r3(-1)+e_theta_r3; lambda_f_t = e_lambda_f_t; mu = rho_mu*mu(-1)+e_mu; b_u = rho_b*b_u(-1)+e_b_u; b_r1 = rho_b*b_r1(-1)+e_b_r1; b_r2 = rho_b*b_r2(-1)+e_b_r2; b_r3 = rho_b*b_r3(-1)+e_b_r3; g = rho_g*g(-1)+e_g; e_zeta_r1 = rho_zeta_r1*e_zeta_r1(-1)+erro_zeta_r1; e_zeta_r2 = rho_zeta_r2*e_zeta_r2(-1)+erro_zeta_r2; e_zeta_r3 = rho_zeta_r3*e_zeta_r3(-1)+erro_zeta_r3; mc = alpha*r_k + (1-alpha)*w; K = w - r_k + L; Y = alpha*K + (1-alpha)*L; X_pn_u = (1-beta_u*zeta_p)*(ksi_u+Y+lambda_f_t+mc) + beta_u*zeta_p*(((1+lambda_f)/lambda_f)*phi(+1)+X_pn_u(+1)); X_pn_r1 = (1-beta_r1*zeta_p)*(ksi_r1+Y+lambda_f_t+mc) + beta_r1*zeta_p*(((1+lambda_f)/lambda_f)*phi(+1)+X_pn_r1(+1)); X_pn_r2 = (1-beta_r2*zeta_p)*(ksi_r2+Y+lambda_f_t+mc) + beta_r2*zeta_p*(((1+lambda_f)/lambda_f)*phi(+1)+X_pn_r2(+1)); X_pn_r3 = (1-beta_r3*zeta_p)*(ksi_r3+Y+lambda_f_t+mc) + beta_r3*zeta_p*(((1+lambda_f)/lambda_f)*phi(+1)+X_pn_r3(+1)); X_pd_u = (1-beta_u*zeta_p)*(ksi_u+Y) + beta_u*zeta_p*((1/lambda_f)*phi(+1)+X_pd_u(+1)); X_pd_r1 = (1-beta_r1*zeta_p)*(ksi_r1+Y) + beta_r1*zeta_p*((1/lambda_f)*phi(+1)+X_pd_r1(+1)); X_pd_r2 = (1-beta_r2*zeta_p)*(ksi_r2+Y) + beta_r2*zeta_p*((1/lambda_f)*phi(+1)+X_pd_r2(+1)); X_pd_r3 = (1-beta_r3*zeta_p)*(ksi_r3+Y) + beta_r3*zeta_p*((1/lambda_f)*phi(+1)+X_pd_r3(+1)); phi = ((1-zeta_p)/zeta_p) * ( 1/ (omega_u + omega_r1*(ksi_r1_ss*((1-beta_u*zeta_p)/(1-beta_r1*zeta_p))) + omega_r2*(ksi_r2_ss*((1-beta_u*zeta_p)/(1-beta_r2*zeta_p))) + omega_r3*(ksi_r3_ss*((1-beta_u*zeta_p)/(1-beta_r3*zeta_p))) )) * ( omega_u*(X_pn_u-X_pd_u) + omega_r1*(ksi_r1_ss*((1-beta_u*zeta_p)/(1-beta_r1*zeta_p)))*(X_pn_r1-X_pd_r1) + omega_r2*(ksi_r2_ss*((1-beta_u*zeta_p)/(1-beta_r2*zeta_p)))*(X_pn_r2-X_pd_r2) + omega_r3*(ksi_r3_ss*((1-beta_u*zeta_p)/(1-beta_r3*zeta_p)))*(X_pn_r3-X_pd_r3) ); K = -z+u+K_barra(-1); K_barra = (1-delta)*exp(-gamma)*(K_barra(-1)-z)+(1-(1-delta)*exp(-gamma))*(mu+I); r_k = ((a_2_linhas*1)/r_k_ss)*u; q = beta_barra*exp(-gamma)*(r_k_ss*r_k(+1)+(1-delta)*q(+1)) - z(+1) + (1/(omega_u + omega_r1*ksi_r1_ss + omega_r2*ksi_r2_ss + omega_r3*ksi_r3_ss )) *( omega_u*((beta_u/beta_barra)*ksi_u(+1)-ksi_u) + ((omega_r1*ksi_r1_ss))*((beta_r1/beta_barra)*ksi_r1(+1) - ksi_r1) + ((omega_r2*ksi_r2_ss))*((beta_r2/beta_barra)*ksi_r2(+1) - ksi_r2) + ((omega_r3*ksi_r3_ss))*((beta_r3/beta_barra)*ksi_r3(+1) - ksi_r3) ); 0 = q + mu - exp(2*gamma)*S_2_linhas*(z+I-I(-1)) + beta_barra*exp(2*gamma)*S_2_linhas*(z(+1)+I(+1)-I); ksi_u = (1/(1-beta_u*h)) * ((b_u-beta_u*h*b_u(+1))-(sigma_u/(1-h))*((1+beta_u*(h^2))*C_u - beta_u*h*C_u(+1) - h*C_u(-1))); ksi_r1 = (1/(1-beta_r1*h)) * ((b_r1-beta_r1*h*b_r1(+1)) - (sigma_r1/(1-h))*((1+beta_r1*(h^2))*C_r1 - beta_r1*h*C_r1(+1) - h*C_r1(-1))); ksi_r2 = (1/(1-beta_r2*h)) * ((b_r2-beta_r2*h*b_r2(+1)) - (sigma_r2/(1-h))*((1+beta_r2*(h^2))*C_r2 - beta_r2*h*C_r2(+1) - h*C_r2(-1))); ksi_r3 = (1/(1-beta_r3*h)) * ((b_r3-beta_r3*h*b_r3(+1)) - (sigma_r3/(1-h))*((1+beta_r3*(h^2))*C_r3 - beta_r3*h*C_r3(+1) - h*C_r3(-1))); ksi_u = r + ksi_u(+1) - z(+1) - phi(+1); zeta_r1_t + ksi_u = (R_L1/(R_L1-kappa_1))*r_L1 + ksi_u(+1) - z(+1) - phi(+1) - (kappa_1/(R_L1-kappa_1))*r_L1(+1); zeta_r2_t + ksi_u = (R_L2/(R_L2-kappa_2))*r_L2 + ksi_u(+1) - z(+1) - phi(+1) - (kappa_2/(R_L2-kappa_2))*r_L2(+1); zeta_r3_t + ksi_u = (R_L3/(R_L3-kappa_3))*r_L3 + ksi_u(+1) - z(+1) - phi(+1) - (kappa_3/(R_L3-kappa_3))*r_L3(+1); ksi_r1 = (R_L1/(R_L1-kappa_1))*r_L1 + ksi_r1(+1) - z(+1) - phi(+1) - (kappa_1/(R_L1-kappa_1))*r_L1(+1); ksi_r2 = (R_L2/(R_L2-kappa_2))*r_L2 + ksi_r2(+1) - z(+1) - phi(+1) - (kappa_2/(R_L2-kappa_2))*r_L2(+1); ksi_r3 = (R_L3/(R_L3-kappa_3))*r_L3 + ksi_r3(+1) - z(+1) - phi(+1) - (kappa_3/(R_L3-kappa_3))*r_L3(+1); X_wn_u = (1-zeta_w*beta_u)*( b_u + theta_u + (1+v)*L + ((1+lambda_w)/lambda_w)*(1+v)*w ) + zeta_w*beta_u*( ((1+lambda_w)/lambda_w)*(1+v)*(phi(+1)+z(+1)) + X_wn_u(+1) ); X_wn_r1 = (1-zeta_w*beta_r1)*(b_r1 + theta_r1 + (1+v)*L + ((1+lambda_w)/lambda_w)*(1+v)*w) + zeta_w*beta_r1*(((1+lambda_w)/lambda_w)*(1+v)*(phi(+1)+z(+1)) + X_wn_r1(+1) ); X_wn_r2 = (1-zeta_w*beta_r2)*(b_r2 + theta_r2 + (1+v)*L + ((1+lambda_w)/lambda_w)*(1+v)*w) + zeta_w*beta_r2*(((1+lambda_w)/lambda_w)*(1+v)*(phi(+1)+z(+1)) + X_wn_r2(+1) ); X_wn_r3 = (1-zeta_w*beta_r3)*(b_r3 + theta_r3 + (1+v)*L + ((1+lambda_w)/lambda_w)*(1+v)*w) + zeta_w*beta_r3*(((1+lambda_w)/lambda_w)*(1+v)*(phi(+1)+z(+1)) + X_wn_r3(+1) ); X_wd_u = (1-zeta_w*beta_u)*(ksi_u+L+((1+lambda_w)/lambda_w)*w) + zeta_w*beta_u*( (1/lambda_w)*(phi(+1)+z(+1))+X_wd_u(+1)); X_wd_r1 = (1-zeta_w*beta_r1)*(ksi_r1+L+((1+lambda_w)/lambda_w)*w) + zeta_w*beta_r1*((1/lambda_w)*(phi(+1)+z(+1))+X_wd_r1(+1)); X_wd_r2 = (1-zeta_w*beta_r2)*(ksi_r2+L+((1+lambda_w)/lambda_w)*w) + zeta_w*beta_r2*((1/lambda_w)*(phi(+1)+z(+1))+X_wd_r2(+1)); X_wd_r3 = (1-zeta_w*beta_r3)*(ksi_r3+L+((1+lambda_w)/lambda_w)*w) + zeta_w*beta_r3*((1/lambda_w)*(phi(+1)+z(+1))+X_wd_r3(+1)); w = (1-zeta_w)*(1/(1+((1+lambda_w)/lambda_w)*v)) *( chi_w_u *(X_wn_u-X_wd_u) + chi_w_r1 * (X_wn_r1 - X_wd_r1) + chi_w_r2 * (X_wn_r2 - X_wd_r2) + chi_w_r3 * (X_wn_r3 - X_wd_r3) ) + zeta_w*( w(-1)-phi-z); B + ((B_L1_ss/B_ss)/(R_L1-kappa_1))*B_L1 + ((B_L2_ss/B_ss)/(R_L2-kappa_2))*B_L2 + ((B_L3_ss/B_ss)/(R_L3-kappa_3))*B_L3 = (beta_u^-1)*(B(-1)+r(-1)) +((B_L1_ss/B_ss)/(R_L1-kappa_1))*(beta_r1^-1)*B_L1(-1)+(((1-exp(-gamma)*(pi^-1)*kappa_1)*R_L1)/(R_L1-kappa_1))*((B_L1_ss/B_ss)/(R_L1-kappa_1))*r_L1 -(((B_L1_ss/B_ss)/(R_L1-kappa_1))*(beta_r1^-1))*(z+phi) +((B_L2_ss/B_ss)/(R_L2-kappa_2))*(beta_r2^-1)*B_L2(-1)+(((1-exp(-gamma)*(pi^-1)*kappa_2)*R_L2)/(R_L2-kappa_2))*((B_L2_ss/B_ss)/(R_L2-kappa_2))*r_L2 -(((B_L2_ss/B_ss)/(R_L2-kappa_2))*(beta_r2^-1))*(z+phi) +((B_L3_ss/B_ss)/(R_L3-kappa_3))*(beta_r3^-1)*B_L3(-1)+(((1-exp(-gamma)*(pi^-1)*kappa_3)*R_L3)/(R_L3-kappa_3))*((B_L3_ss/B_ss)/(R_L3-kappa_3))*r_L3 -(((B_L3_ss/B_ss)/(R_L3-kappa_3))*(beta_r3^-1))*(z+phi) + (G_ss/B_ss)*g - (Y_ss/B_ss)*T - (beta_u^-1)*(z+phi); B_L1-(R_L1/(R_L1-kappa_1))*r_L1 = - e_B1 + rho_B1*( B_L1(-1) - (R_L1/(R_L1-kappa_1))*r_L1(-1)); B_L2-(R_L2/(R_L2-kappa_2))*r_L2 = - e_B1 + rho_B2*( B_L2(-1) - (R_L2/(R_L2-kappa_2))*r_L2(-1)); B_L3-(R_L3/(R_L3-kappa_3))*r_L3 = - e_B1 + rho_B3*( B_L3(-1) - (R_L3/(R_L3-kappa_3))*r_L3(-1)); (T - G_ss*g)/(T_ss-G_ss) = phi_T*( B(-1) + B_L1(-1) - (R_L1/(R_L1-kappa_1))*r_L1(-1) + B_L2(-1) - (R_L2/(R_L2-kappa_2))*r_L2(-1) + B_L3(-1) - (R_L3/(R_L3-kappa_3))*r_L3(-1) ) + e_T; r = rho_r*r(-1) + (1-rho_r)*(phi_pi*phi + phi_y*(Y-Y(-4)+z+z(-1)+z(-2)+z(-3))) + e_m; zeta_r1_t = zeta_linha_r1*(B_L1 - (R_L1/(R_L1-kappa_1))*r_L1) + e_zeta_r1; zeta_r2_t = zeta_linha_r2*(B_L2 - (R_L2/(R_L2-kappa_2))*r_L2) + e_zeta_r2; zeta_r3_t = zeta_linha_r3*(B_L3 - (R_L3/(R_L3-kappa_3))*r_L3) + e_zeta_r3; Y =(I_ss/Y_ss)*I + (G_ss/Y_ss)*g + exp(-gamma)*r_k_ss*(K_barra_ss/Y_ss)*u + (omega_u*C_u_ss/Y_ss)*C_u + (omega_r1*C_r1_ss/Y_ss)*C_r1 + (omega_r2*C_r2_ss/Y_ss)*C_r2 + (omega_r3*C_r3_ss/Y_ss)*C_r3; ((R_L1/(R_L1-kappa_1))-1)*RP_r1(+1) - (R_L1/(R_L1-kappa_1))*RP_r1 + zeta_r1_t = 0; ((R_L2/(R_L2-kappa_2))-1)*RP_r2(+1) - (R_L2/(R_L2-kappa_2))*RP_r2 + zeta_r2_t = 0; ((R_L3/(R_L3-kappa_3))-1)*RP_r3(+1) - (R_L3/(R_L3-kappa_3))*RP_r3 + zeta_r3_t = 0; Dur=-(1/( B_ss + (1/(R_L1-kappa_1))*B_L1_ss + (1/(R_L2-kappa_2))*B_L2_ss + (1/(R_L3-kappa_3))*B_L3_ss ) *(B_ss*B + (B_L1_ss/(R_L1-kappa_1))*(B_L1 - r_L1*(R_L1/(R_L1-kappa_1))) + (B_L2_ss/(R_L2-kappa_2))*(B_L2 - r_L2*(R_L2/(R_L2-kappa_2))) + (B_L3_ss/(R_L3-kappa_3))*(B_L3 - r_L3*(R_L3/(R_L3-kappa_3))) )) + (1/(B_ss + B_L1_ss*(R_L1/(R_L1-kappa_1)^2) + B_L2_ss*(R_L2/(R_L2-kappa_2)^2) + B_L3_ss*(R_L3/(R_L3-kappa_3)^2) )) * ( B_ss*B + B_L1_ss*(R_L1/(R_L1-kappa_1)^2)*(B_L1 + r_L1*(1-2*(R_L1/(R_L1-kappa_1)))) + B_L2_ss*(R_L2/(R_L2-kappa_2)^2)*(B_L2 + r_L2*(1-2*(R_L2/(R_L2-kappa_2)))) + B_L3_ss*(R_L3/(R_L3-kappa_3)^2)*(B_L3 + r_L3*(1-2*(R_L3/(R_L3-kappa_3))))); choque=e_B1; MV_B_L1 = B_L1 - (R_L1/(R_L1-kappa_1))*r_L1; MV_B_L2 = B_L2 - (R_L2/(R_L2-kappa_2))*r_L2; MV_B_L3 = B_L3 - (R_L3/(R_L3-kappa_3))*r_L3; end; initval; z=gamma; theta_u=0; theta_r1=0; theta_r2=0; theta_r3=0; lambda_f_t=0; mu=0; b_u=0; b_r1=0; b_r2=0; b_r3=0; g=0; e_zeta_r1=0; e_zeta_r2=0; e_zeta_r3=0; mc=0; r_k=0; w=0; K=0; L=0; Y=0; X_pn_u=0; phi=0; X_pn_r1=0; X_pn_r2=0; X_pn_r3=0; ksi_u=0; ksi_r1=0; ksi_r2=0; ksi_r3=0; X_pd_u=0; X_pd_r1=0; X_pd_r2=0; X_pd_r3=0; u=0; K_barra=0; I=0; q=0; C_u=0; C_r1=0; C_r2=0; C_r3=0; zeta_r1_t=0; zeta_r2_t=0; zeta_r3_t=0; r=0; r_L1=0; r_L2=0; r_L3=0; X_wn_u=0; X_wn_r1=0; X_wn_r2=0; X_wn_r3=0; X_wd_u=0; X_wd_r1=0; X_wd_r2=0; X_wd_r3=0; B=0; B_L1=0; B_L2=0; B_L3=0; T=0; RP_r1=0; RP_r2=0; RP_r3=0; Dur=0; choque=0; MV_B_L1=0; MV_B_L2=0; MV_B_L3=0; end; check; shocks; var e_B1=0.103; end; stoch_simul(irf=24);