Optimal Monetary Policy/Value of objective function

[Robert B.]

Hi,

I would like to compare different monetary policies (discretion vs. commitment). To do so, It would be helpful to get the value of the objective functions.

For the commitment case: I am using "ramsey_policy" with dynare 4.2.. But still the value of the objective function is not reported. Why is that? Do I have to include an extra command?

For the discrationary case: I am using "stoch_simul". How can I compute the loss?

I would be very grateful for help.

Thank you very much indeed,
Robert

[StephaneAdjemian]

Dear Robert,

In version 4.2.2 (see dynare manual page 53), the value of the objective function is saved in oo_.planner_objective_value.

Best,
Stéphane.