solving for steady state

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solving for steady state

Postby kartoffel » Wed May 15, 2013 2:02 pm

Hi everyone,

I have the following system of equations, which is my model block:
C^(-sigma)=(beta/Q)*C(+1)^(-sigma);
C^(-sigma) = N^phi/W;
C^(-sigma) =beta*(C(+1))^(-sigma)*(1-delta+R(+1));
K(+1) = (1-delta)*K+I;
Y = A*N^(1-alpha)*K^alpha;
W = (1-alpha)*A*N^(-alpha)*K^alpha;
R = alpha*A*N^(1-alpha)*K^(alpha-1);
Y = C + I;
B = 0;
A = A(-1)^rho*exp(epsilon);

I need to calculate the steady state by hand, such that the steady state values depend only on parameters like phi, epsilon, alpha etc.
As this is kind of tedious i was wondering if there is a way to let dynare/matlab solve this system, to compare with my own results?

Thanks in advance!

Regards,
kartoffel
kartoffel
 
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Re: solving for steady state

Postby jpfeifer » Sat May 18, 2013 11:30 am

You can just provide starting values in the initval block and use the steady command. For your simple model, this should work.
------------
Johannes Pfeifer
University of Cologne
https://sites.google.com/site/pfeiferecon/
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