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two country model- BK condition not verified

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two country model- BK condition not verified

Postby zheyizhu » Thu Jan 26, 2017 12:21 am

Hi all,
I am currently working on a two country model extended by a 3 equation NK model. The two countries have the same setup and are related with a UIP equation. However, the BK condition does not verified as the warning message hits. it usually happened with a timing line problem. I suspect there might be a problem lies in IS curve which augmented with nominal exchange rate gap, but can not figure it out. Does anyone can give me some idea?
Also attached with the model mod.

Best

Victor
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Re: two country model- BK condition not verified

Postby jpfeifer » Mon Jan 30, 2017 12:48 pm

Hard to tell. Have you looked at http://www.dynare.org/wp-repo/dynarewp029.pdf?
------------
Johannes Pfeifer
University of Cologne
https://sites.google.com/site/pfeiferecon/
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Re: two country model- BK condition not verified

Postby zheyizhu » Tue Jan 31, 2017 11:34 am

Hi Johannes,

Thanks for your kindly advise. I would have a look then.

Best

Victor
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