Dear All:
I am new to dynare.I want to know how to to write a infinite sum FOC into dynare ?(something like FOC of calvo price setting)
thanks !
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how to write a infinite sum FOC into dynare
by leogaoyang » Mon Apr 22, 2013 2:24 am
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Re: how to write a infinite sum FOC into dynare
by jpfeifer » Mon Apr 22, 2013 11:37 am
Generally, you must either use a linear approximation that gets rid of the infinite sum or you find a recursive formulation of the infinite sum that makes it representable as a finite object (as Schmitt-Grohe/Uribe did for the Calvo pricing example).
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