Using steady state value as a parameter in the policy rule

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Using steady state value as a parameter in the policy rule

Postby diatrochoi » Tue Jul 08, 2014 10:49 pm

Hi

Is there a way for dynare to calculate the steady state using command steady and then include the steady state value in the model for the policy rule as a parameter of the policy rule?

e.g. Let's say my policy rule is i=0.9+0.5*(c-steadystate value of c), so the policy rule responds to the deviation of a variable from the steady state.

Thanks
diatrochoi
 
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Re: Using steady state value as a parameter in the policy ru

Postby jpfeifer » Wed Jul 09, 2014 9:16 am

Use the steady_state operator (see the manual).
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Johannes Pfeifer
University of Cologne
https://sites.google.com/site/pfeiferecon/
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