Hello,

Hope you are well. I’m facing two issues. (using Dynare 5.4).

The code runs ok for stochastic simulations.

- When I try to call Ramsey problem with commitment:

planner_objective welf;

ramsey_model(instruments=(RTR),planner_discount=beta);

stoch_simul(order=1,irf=40);

evaluate_planner_objective;

It says “Error using eval

Unrecognized function or variable ‘optimal_policy_discount_factor’.” I tried with the numerical value of the DF and different ways to call beta but I always get the same issue.

- The problem runs ok for perfect foresight. But I’m trying to do an exercise with stochastic extended path (if you uncomment the last lines of the code) and I always get the same issue:

"Unrecognized field name “Omega”.

Error in setup_integration_nodes (line 9)

nodes0 = repmat(nodes0,1,pfm.number_of_shocks*pfm.stochastic_order)*kron(eye(pfm.stochastic_order),pfm.Omega);"

Thank you so much,

model.mod (10.1 KB)

model20_steadystate.m (310 Bytes)

param.mat (3.9 KB)

run.m (1.2 KB)

I get various issues with your model.

- You specified a negative variance.
- The naming of the model and the steady state file do not match.
- Not all parameters you are trying to pass back in the steady state file have been set. You should provide a proper steady state file.

Thank you. Yes, the variance was a typo I had. I simplified the code. Basically it’s the Sims and Wu 2021, but I’m trying to compute a Ramsey Problem. I attached the simplified codes. They run ok for stochastic simulations but I still get always the same problem for both Ramsey command and the stochastic extended path. Maybe you are right with some parameters missing but I could not find the bug nor understand why PF or stoch sim runs ok.

Regarding the name of the SS file: this is strange, I see it in my folders as model_steadystate but when I upload here it says model20, I saved again under the correct name but still uploads with the “20” so I don’t think thats the issue of Ramsey and the SEP problem.

Thanks

Thank you

model.mod (8.4 KB)

model20_steadystate.m (310 Bytes)

param.mat (2.8 KB)

run.m (177 Bytes)

Hi, here are all the files. Basically, the main problem is that I can’t run the Ramsey problem. Maybe is bacause I call the Discount factor “beta” and that causes a conflict with the internal matlab language?

model.mod (8.4 KB)

model20_steadystate.m (310 Bytes)

param.mat (2.8 KB)

run.m (177 Bytes)

model_ss.m (3.0 KB)

param_save.m (1.8 KB)

param_ss.m (2.2 KB)

You need to use a proper steady state file that sets all variables. A starting point is:

model_steadystate.m (2.7 KB)