Can you please help me to run example 3 in Dynare User Guide.
I get the following message, please let me know how I can correct
it and get the code running.
Best.
Neil
email: n.karunaratne@uq.edu.au
EDU>> dynare example3.mod
Attempt to execute SCRIPT dynare as a function:
c:\dynare\4.3.3\matlab\dynare.m
Example 3
/*
- Dynare is free software: you can redistribute it and/or modify
- it under the terms of the GNU General Public License as published by
- the Free Software Foundation, either version 3 of the License, or
- (at your option) any later version.
- Dynare is distributed in the hope that it will be useful,
- but WITHOUT ANY WARRANTY; without even the implied warranty of
- MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE. See the
- GNU General Public License for more details.
- You should have received a copy of the GNU General Public License
- along with Dynare. If not, see http://www.gnu.org/licenses/.
- This is 5.8 The complete .mod file (Ref Chap 5 pp. 53-54 User Guide(
*/
var y c k i l y_l w r z;
varexo e;
parameters beta psi delta alpha rho epsilon;
model;
(1/c) = beta*(1/c(+1))(1+r(+1)-delta);
psic/(1-l) = w;
c+i = y;
y = (k(-1)^alpha)(exp(z)l)^(1-alpha);
w = y((epsilon-1)/epsilon)(1-alpha)/l;
r = y*((epsilon-1)/epsilon)*alpha/k(-1);
i = k-(1-delta)k(-1);
y_l = y/l;
z = rhoz(-1)+e;
end;
varobs y;
initval;
k = 9;
c = 0.76;
l = 0.3;
w = 2.07;
r = 0.03;
z = 0;
e = 0;
end;
estimated_params;
alpha, beta_pdf, 0.35, 0.02;
beta, beta_pdf, 0.99, 0.002;
delta, beta_pdf, 0.025, 0.003;
psi, gamma_pdf, 1.75, 0.1;
rho, beta_pdf, 0.95, 0.05;
epsilon, gamma_pdf, 10, 0.5;
stderr e, inv_gamma_pdf, 0.01, inf;
end;
estimation(datafile=simuldataRBC,nobs=200,first_obs=500,
mh_replic=2000,mh_nblocks=5,mh_drop=0.5,mh_jscale=0.4,
mode_compute=4);
/*
estimation(datafile=data,nobs=200,first_obs=500,
mh_replic=2000,mh_nblocks=5,mh_drop=0.5,mh_jscale=0.4,
mode_compute=4);
*/