I'm running a simple model that includes a tax on wages and transfer system between different classes of citizens. I'd like to implement a Markov process that determines which of two systems are in place in each time period, and determined a Markov process would be best.
I've searched around and found references to Markov processes in dynare, but I wasn't smart enough to actually understand everything. I assume this is possible, it seems like it should be.
Could somebody post some example code or a link to an explanation that might help?
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Markov Process
by Gmeiner » Sun Nov 02, 2014 2:46 am
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Re: Markov Process
by jpfeifer » Wed Nov 05, 2014 3:29 pm
On Markov processes for shocks, see http://www.dynare.org/phpBB3/viewtopic.php?f=1&t=5267. As you seem to be referring to a Markov regime-switching model, they are not yet supported in Dynare.
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