Hello all,
I an new to Dynare and I would like to ask about the steady-state. I have found the steady-state equations and used them for calibration. After that, I plug in the parameter values in order to find for instance the long-run c/y ratio and compare them to data averages. They seem to be in line with averages, but when I put as intial values my long-run solution in Dynare, the steady-state results are different.
Is that sensible?
Hope to made my question clear and thanks in advance.
Ilias
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question on steady-state
by IliasG » Sat Jul 05, 2014 1:52 pm
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Re: question on steady-state
by kyri82 » Sun Jul 06, 2014 12:37 pm
When you put the initial values in dynare, dynare re-calculates the steady-state based on those values. Obviously, if your calculation is correct the results should not be very different. Is that the case?
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