Financial accelerator models (BGG+Hall) matching papers


Have some problems replicating IRFs of financial accels models (loglind). I attach two,

  1. Bernanke BGG 1999. I tried to replicate the IRF of figure 5, the main diff is wrt to the ‘premium’ ( prem=rk-r in the mod).
    Besides the magnitudes diff (in y and i), the prem IRF outputs an increase, while fig5 is always negative.
    The mod file is taken from an existing dynare post + minor chgs in params.

bggmodel: bggmodel.mod (1.83 KB)

  1. Hall 2001, based on BGG for UK data. The mod file is as in the paper’s appx, ~BGG.
    I tried to replicate chart 15 IRFs but got very diff results.
    Might be a typo in eqn A12, last term uses ‘rk’ , which is not defined in the system. Its replaced by ‘1’ to run it.

hallpaper: hallpaper.pdf (171 KB)
hallmodel: hallmodel.mod (1.82 KB)

Any comments/opinions r very wellcome