Optimal Monetary Policy/Value of objective function

Hi,

I would like to compare different monetary policies (discretion vs. commitment). To do so, It would be helpful to get the value of the objective functions.

For the commitment case: I am using “ramsey_policy” with dynare 4.2… But still the value of the objective function is not reported. Why is that? Do I have to include an extra command?

For the discrationary case: I am using “stoch_simul”. How can I compute the loss?

I would be very grateful for help.

Thank you very much indeed,
Robert

Dear Robert,

In version 4.2.2 (see dynare manual page 53), the value of the objective function is saved in oo_.planner_objective_value.

Best,
Stéphane.