I am using the Ramsey policy solver in DYNARE 4.4.3.
Also note that I am using an external steady state file in which the steady-state values of all endogenous variables are saved in a vector named ys.
It works fine if I only use one instrument.
However I get an error message if I use two. My two instruments are G and TAU. In order compute the optimal policy I commented out the two rules for G and TAU and wrote:
planner_objective U; ramsey_policy(planner_discount=bbeta, irf=0, instruments=(G TAU) );
where U is the per-period utility.
I get the following error messages:
Undefined function or variable "ys". Error in dyn_ramsey_static (line 57) [inst_val,info1] = dynare_solve(nl_func,ys(k_inst),0); Error in evaluate_steady_state (line 55) [ys,params] = dyn_ramsey_static(ys_init,M,options,oo); Error in resol (line 104) [dr.ys,M.params,info] = evaluate_steady_state(oo.steady_state,M,options,oo,0); Error in stoch_simul (line 88) [oo_.dr,info,M_,options_,oo_] = resol(0,M_,options_,oo_); Error in ramsey_policy (line 25) info = stoch_simul(var_list); Error in optinv_sec_ord (line 677) ramsey_policy(var_list_); Error in dynare (line 180) evalin('base',fname) ;
I noticed that in dyn_ramsey_static.m there is an IF statement for the case in which there is only one instrument and for the case in which there are more.
if inst_nbr == 1 inst_val = csolve(nl_func,oo.steady_state(k_inst),'',options_.solve_tolf,100); else [inst_val,info1] = dynare_solve(nl_func,ys(k_inst),0); end
Can the problem be here? Any idea on how to circumvent it?