Dear all,
I have one question to be clarified. In my model, I have time to build, which makes one of the equations in the model block has uncommon timing. some of the variables will be streched back many periods or forwarded for many periods.
For example, the price now is Q(t+4) in the model.
My question is: can I directly write Q(+4) or how can do with it in dynare?
Thanks.
cindy
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question about the timing of variables
by uvcindy » Thu Apr 12, 2007 8:17 pm
- uvcindy
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by MichelJuillard » Sat Apr 21, 2007 4:58 pm
Yes, you can write Q(+4)
Now, if you are doing time to build, be careful that Q(t) means that Q is decided upon in period t, then for when Q is used (several periods after it has been set) you should use a lagged value of Q.
Q(+4) means the expected value of Q four periods ahead. Or, if Q(+4) is part of a nonlinear expression the expected value of that expression.
Best
Michel
Now, if you are doing time to build, be careful that Q(t) means that Q is decided upon in period t, then for when Q is used (several periods after it has been set) you should use a lagged value of Q.
Q(+4) means the expected value of Q four periods ahead. Or, if Q(+4) is part of a nonlinear expression the expected value of that expression.
Best
Michel
- MichelJuillard
- Posts: 680
- Joined: Thu Nov 18, 2004 10:51 am
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