IRFs issues in SW07 with ZLB

Occbin
6

My mistake. Your implementation is wrong. You define

r =  crpi*(1-crr)*pinf+cry*(1-crr)*(y-yf)+crdy*(y-yf-y(-1)+yf(-1))+crr*r(-1)
               +interest_  ;   
[name='Deposite rate',relax = 'ZLB']
rnop=r;
[name='Deposite rate',bind = 'ZLB']
rnop=1-1/0.99;

So r should be the notional interest rate in the absence of the ZLB, while rnop is the actual interest rate. But it’s r that shows up in all other equations.