I’m new to dynare, I want to know is it true that if i input the already linearized model into dynare code then i don’t have to give the initial value (initval;) of all variables cuz the initial condition is a steady state and since after linearization all vars are in their deviation form so the initvals are 0(so I don’t have to assign)? and i must give the initval is I input the model which has not been linearized?
thank you so much!
Dear Rose_Rae,
In the initval block, the default value for the variables you didn’t assign will be 0. Thus in your question, yes, you only have to give the initial value when the steady state value is not zero.
Typically, that is true. But even linearized equations can contain constant terms. In that case, you may need to provide initial values or a steady state.
thank you so much:smiling_face_with_three_hearts:
thank you jpfeifer,you helped me a lot!!