Hi all!!!

I am solving a decentralized competitive equilibrium problem and in the end I shock the economy with 1% permanent shock in some exogenous parameter. I obtain the impulse responses, but in some of these graphs there seems to be only one value repeating on the y-axis. What I really mean is that even though there is a response (the line responds), the values on the y-axis are the same for the full scale of the response.

Can anyone please tell me why is this happening?

Any help is much appreciated!

This is an example of my impulse responses

graph.pdf (100 KB)

Try the most recent Dynare unstable version. If the problem persists, please post the mod-file.

I downloaded the latest dynare version and run the exact same mod file. As you can see the result is a completely different graph (please see the attached files msnew.pdf and ms.mod).

I am also attaching another similar file, where, again, in some of the graphs y-axis has the same values (file angnew.pdf and ang.mod).

Why is this happening? An I doing something wrong? Should I change something because of the new version of dynare?

ang.mod (1.34 KB)

ms.mod (1.8 KB)

angnew.pdf (72.2 KB)

msnew.pdf (53.8 KB)

I might be wrong, but your parameter does seems to not affect the steady state at all (except for U). Thus, there is no endogenous response. You start at the steady state and stay there. This is the reason everything is constant (flat line). If you look at the scaling on the y-axis, you will see that even some variables that look like they are moving are actually constant and the tiny change is due to numerical error/rounding.

Dear jpfeifer,

Thank you very much for your prompt replies. You helped me a lot! I just wanted to be sure that I get these results because of the way the model is set and not because I am doing something wrong in Dynare.

Best wishes and kind regards,

Maria