% MACROECONOMÍA AVANZADA
% Ejercicios Calificados
% Módulo 1 (Profesor Marco Vega)

% Liu Mendoza Pérez     20021005
% Rosario Pérez Liu     
% Carmen Toledo Larios  20010911

% 1. Definición de variables y parámetros

% Calibración en base a Gali (2008): "Monetary policy, inflation and the Bussiness cycle.
% An introduction to the New Keynesian framework", pp. 52.

var YY INF II YYo RR;
varexo rr ee;

parameters

beta sigma phi epsilon alfa theta omega lambda kappa
rho rho_r theta_y theta_inf_max theta_inf i;

% 2. Calibración del modelo


% ========================================================


i               =   73                                                ;


% ========================================================

beta            = 0.99;
sigma           = 1;
phi             = 1;
epsilon         = 6;
alfa            = 0.33;
theta           = 2/3;
omega           = (1-alfa)/(1-alfa+alfa*epsilon);
lambda          = (1-theta)*(1-beta*theta)/theta;
kappa           = lambda*(sigma+(phi+alfa)/(1-alfa));
rho             = 0.05;
rho_r           = 0.9;
theta_y         = 0.5/4;
theta_inf_max   = 1.5;
theta_inf       = 1 + ( 1 ^ ( - 1000 ) ) * i ;

% 3. Especificación del Modelo

model; 

INF=beta*INF(1)+YY;
YY=YY(1)-(1/sigma)*(II-INF(1)-RR);
II=rho+theta_y*(theta_inf_max-theta_inf)*YYo+theta_inf*INF;
YYo=YY+ee;
RR-rho=rho_r*(RR(-1)-rho)+rr;

end;

% 4. Resolviendo

initval;

YY=0;
INF=0;
II=0;
YYo=0;
RR=0;

end;

shocks;
var ee =1;
var rr =1;
end;

steady;

stoch_simul(hp_filter = 1600, order = 1);