NK model steady state

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NK model steady state

Postby Manuel CG » Wed Apr 19, 2017 9:00 am

Hi

Im having some problems to solve a NK model presenting in the following paper about the Japanase problems with deflation and demographics https://www.aeaweb.org/conference/2015/retrieve.php?pdfid=949.

I try to solve it using the steady_state_model block but the equations turn into non-linear ones and I dont know how to deal with it properly. I refuse to use the initval block because I dont know how to guess the values properly for this exercise
The equilibrium conditions of the models can be founded in pages 35 to 38.

Thanks in advance
Attachments
baseline2.mod
Dynare code
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steady_state.pdf
Steady state by hand
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Manuel CG
 
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Re: NK model steady state

Postby jpfeifer » Fri Apr 21, 2017 7:41 am

Where exactly is the problem? You could use a steady state file to solve a nonlinear equation. An example is the NK_baseline.mod in the Dynare examples folder.
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Johannes Pfeifer
University of Cologne
https://sites.google.com/site/pfeiferecon/
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