Hello. I am new use of dynare and I have a simple model where I need to produce IRF. I use the command stoch_simul to produce them but it does not show the response for all my endogenous variables ( I have less than 12). Does anybody knows why is this happening? Does it mean that the variable does not respond to the shock?
Thank you for your answers.
Here my code:
var k, i, y, z, c, mu, l, k_l;
varexo e_z, e_c;
parameters alpha, delta, rho_z, rho_c, theta, sigma_z, sigma_c, r,w;
r = 0.04;
rho_z = 0.9;
sigma_z = 0.05;
theta = 0.9;
alpha = 0.35;
delta= 1;
rho_c=0.9;
sigma_c=0.15;
w = 0.36;
model;
k(+1)=k*(1-delta)+i ;
i = c+(theta*k(+1))-(w*l) ;
log(z) = rho_z*log(z(-1)) - e_z ;
log(c) = rho_c*log(c(-1)) - e_c ;
w*(1+mu)=(1-alpha)*z*((k/l)^alpha);
(1-delta)*(1+mu(+1))+alpha*z(+1)*((k(+1)/l(+1))^(alpha-1))+mu(+1)*theta=(1+mu)*(1+r);
y=z*(k^alpha)*(l^(1-alpha));
k_l=k/l;
end;
initval;
mu =0.1;
l=1/(w+((w*(1+mu)/(1-alpha))^(1/alpha))*(delta-theta));
k=((w*(1+mu)/(1-alpha))^(1/alpha))*l;
i=delta*k;
z=1;
y=(k^alpha)*(l^(1-alpha));
c=1;
k_l=k/l;
end;
steady;
check;
shocks;
var e_c; stderr sigma_c;
end;
stoch_simul(order=1,nocorr,nomoments,irf=40);