GK_2009 framework extension

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GK_2009 framework extension

Postby sadia » Fri Mar 27, 2015 3:13 am

Dear Professor Pfeifer and dynare community,

I am trying to apply NK_baseline.mod file's approach to provide separate steady state file for my model. But it fails to get the steady state. From the residuals of the equations, it looks like there can be some problem in equation 12, 13,14. Is there any other issue in the .mod file or in the _steadystate.m file?
Particularly, the parameters b1 and delss should be in log in the steady state file? And the government expenditure coefficient omegag's initial value is assumed 1.

I will be grateful if you give me some comments on the files, what's going wrong. Professor, I sent you the pdf model file earlier.

Thanks a lot.
Attachments
simsgk_steadystate.m
steady state file
(2.44 KiB) Downloaded 32 times
simsgk.mod
main model file
(5.28 KiB) Downloaded 35 times
sadia
 
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Re: GK_2009 framework extension

Postby jpfeifer » Fri Mar 27, 2015 8:58 am

With a steady state file, you need to provide an exact steady state. You cannot fix capital to 15 unless there is a parameter that adjusts. Go back to pencil and paper to compute the steady state.
------------
Johannes Pfeifer
University of Cologne
https://sites.google.com/site/pfeiferecon/
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Re: GK_2009 framework extension

Postby sadia » Mon Mar 30, 2015 12:51 am

I used my earlier found steady state value of the simpler model. Ok, I am going back to my steady state calculation. Thank you very much.
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Location: Australia


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