This code package reproduces the results of:
Lawrence Christiano, Mathias Trabandt and Karl Walentin, 2011, Introducing Financial Frictions and Unemployment into a Small Open Economy Model, Journal of Economic Dynamics and Control, forthcoming.
The package contains all the model variants described in that paper. This implies that a lot of additional output also can be generated. 

The directory structure is as follows:
- CTW main model estimation: Directory to reproduce estimates of the main model.
- CTW CodeKit across models: Directory containing subdirectories where all model variants are defined. Also contains subdirectory 'Plots' that generates plots comparing various models.
- endogenous_priors: -Directory with code that adjust Dynare to use endogenous priors
- utilities_and_data: Data file for Sweden 1995q1-2010q3 used in estimation, and various plot and print routines

The code is to be used with Dynare 4.1.0.

Add '...\utilities_and_data' to the Matlab path. It includes data and matlab code used for output.
If you want to estimate using endogenous priors, you need to add '...\endogenous_priors' BEFORE the Dynare directories in Matlab path.

The only type of result that is not included is the metropolis-hastings chains, due to their size. In addition, to replicate the estimation of the submodels used
for relative forecast evaluation requires a bit of editing work from the user. This includes replacing the file 'dynare_estimation' distributed with Dynare with the 
file included in this package. It also includes editing the .mod files to produce forecasts.

Please cite appropriately and make it clear that you used the code in case you do.