Stoch_simul not from Steady State

This forum is closed. You can read the posts but cannot write. We have migrated the forum to a new location where you will have to reset your password.
Forum rules
This forum is closed. You can read the posts but cannot write. We have migrated the forum to a new location (https://forum.dynare.org) where you will have to reset your password.

Stoch_simul not from Steady State

Postby Lupin » Thu Jun 28, 2012 4:23 pm

I would like to compute irfs starting from points away from the steady state. I thought that using an initval would have been enough to specify the point from which I want to compute the irf but it seems like the stoch_simul command always compute the irfs starting from the steady state. The user guide and the reference manual do not agree on this point. The former says that using initval is enough while the latter clearly states that the stoch_simul command computes policies (and therefore irfs) only around the steady state. What am I missing?

Thanks
Lupin
 
Posts: 4
Joined: Thu Jun 21, 2012 3:51 pm

Re: Stoch_simul not from Steady State

Postby jpfeifer » Fri Jun 29, 2012 2:07 pm

The user guide is outdated. The manual should be correct. Note that for order=1 everything is linear. Hence, where you compute the IRFs is irrelevant and you can simply add the IRFs. For higher order approximations, you should use the function simult_.m
A user interface for choosing the starting values will only be implemented in a future version of Dynare.
------------
Johannes Pfeifer
University of Cologne
https://sites.google.com/site/pfeiferecon/
jpfeifer
 
Posts: 6940
Joined: Sun Feb 21, 2010 4:02 pm
Location: Cologne, Germany


Return to Dynare help

Who is online

Users browsing this forum: No registered users and 5 guests

cron