ZLB and extended path in dynare

[richardgu26]

Dear all,

I have a quick question about ZLB and extended path. I have noticed that there are a few posts related to this issue; however, they are very brief. Since I failed in trying out those two options, first I wonder if I imposed wrongly.

model;
....

//?? Taylor's rule
RNOT=max(0, i(-1)+\gamma_R*PI+\gamma_y*(y-y(-1))+epsm);
i=RNOT;
....
end;
...

var epsm;
periods 1:10;
values 1000;
end;

(Can I impose more than one var here? I guess yes, right?)

simul(periods=20);
rplot y;
rplot PI;
rplot i;

extended_path(periods=20);
rplot y;
rplot PI;
rplot i;

Is such generic code good?

Thanks in advance.