hi proffesor jpfeyfer
According to the fact that I have defined the variable, but the MATLAB version
2024 software announces the following error when running the model with dynare 6.1 software. Please guide me on how to fix this error?
Unrecognized function or variable ‘Y’.
1.Error in torres195.driver (line 446)
plot(Y-oo_.steady_state(1));
2.Error in dynare (line 310)
** evalin(‘base’,[fname ‘.driver’]);**
How can I fix these errors?
Without the codes it is impossible to tell.
Mr. Professor Pfeiffer, greetings; The requested code is as follows, which is from the eighth chapter of Mr. Torres’ book, which does not identify the variable y. Please guide me to fix the error:
// Model 8a: Permanent change in public consumption
// Dynare code
// File: model8a.mod
// José L. Torres. University of Málaga (Spain)
// Endogenous variables
var Y, Cp, Cg, I, K, L, R, W, A;
// Exogenous variables
varexo e, tauc, taul, tauk, zita;
// Parameters
parameters alpha, beta, delta, gamma, pi, rho;
// Calibration of parameters
alpha = 0.35;
beta = 0.97;
delta = 0.06;
gamma = 0.40;
pi = 0.50;
rho = 0.95;
// Equations of the model economy
model;
(1+tauc)*(Cp+pi*Cg)=(gamma/(1-gamma))
*(1-L)*(1-taul)*W;
1 = beta*((1+tauc)*(Cp+pi*Cg)
/((1+tauc)*(Cp(+1)+pi*Cg(+1)))
*((1-tauk)*(R(+1)-delta)+1));
Y = A*(K(-1)^alpha)*(L^(1-alpha));
K = I+(1-delta)*K(-1);
I = Y-Cp-Cg;
W = (1-alpha)*A*(K(-1)^alpha)*(L^(-alpha));
R = alpha*A*(K(-1)^(alpha-1))*(L^(1-alpha));
Cg = zita*Y;
log(A) = rho*log(A(-1))+ e;
end;
// Initial values
initval;
Y = 1;
Cp = 0.8;
Cg = 0.1;
L = 0.3;
K = 3.5;
I = 0.2;
W = (1-alpha)*Y/L;
R = alpha*Y/K;
A = 1;
e = 0;
zita = 0.100;
tauc = 0.116;
tauk = 0.225;
taul = 0.344;
end;
// Steady state
steady;
SS0=oo_.steady_state;
// Blanchard and Khan conditions
check;
// Final values
endval;
Y = 1;
Cp = 0.8;
Cg = 0.1;
L = 0.3;
K = 3.5;
I = 0.2;
W = (1-alpha)*Y/L;
R = alpha*Y/K;
A = 1;
e = 0;
zita = 0.120;
tauc = 0.116;
tauk = 0.225;
taul = 0.344;
end;
// Steady state
steady;
// Shock analysis
shocks;
var zita;
// Disturbance periods
periods 0;
// Change to final value
values 0;
end;
// Deterministic simulation
simul(periods=58);
// Figures
figure;
subplot(2,2,1);
plot(Y-SS0(1));
title(’Output’);
subplot(2,2,2);
plot(Cp-SS0(2));
title(’Private consumption’);
subplot(2,2,3);
plot(Cg-SS0(3));
title(’Public consumption’);
subplot(2,2,4);
plot(I-SS0(4));
title(’Investment’);
figure;
subplot(2,2,1);
plot(K-SS0(5));
title(’Capital stock’);
subplot(2,2,2);
plot(L-SS0(6));
title(’Working hours’);
subplot(2,2,3);
plot(R-SS0(7));
title(’Rental rate of capital’);
subplot(2,2,4);
plot(W-SS0(8));
title(’Wage’);