Dear All
Configuring Dynare …
[mex] Generalized QZ.
[mex] Sylvester equation solution.
[mex] Kronecker products.
[mex] Sparse kronecker products.
[mex] Bytecode evaluation.
[mex] k-order perturbation solver.
[mex] k-order solution simulation.
Starting Dynare (version 4.1.2).
Starting preprocessing of the model file …
Found 18 equation(s).
Evaluating expressions…done
Computing static model derivatives:
- order 1
Computing dynamic model derivatives: - order 1
- order 2
Processing outputs …done
Preprocessing completed.
Starting MATLAB/Octave computing.
Residual for equation number 1 is equal to 0
Residual for equation number 2 is equal to 0
Residual for equation number 3 is equal to 0
Residual for equation number 4 is equal to 0
Residual for equation number 5 is equal to -6.0407
Residual for equation number 6 is equal to 0
Residual for equation number 7 is equal to 0
Residual for equation number 8 is equal to 74.7993
Residual for equation number 9 is equal to 0
Residual for equation number 10 is equal to 0
Residual for equation number 11 is equal to 0
Residual for equation number 12 is equal to 0
Residual for equation number 13 is equal to 0
Residual for equation number 14 is equal to 0
Residual for equation number 15 is equal to 0
Residual for equation number 16 is equal to 0
Residual for equation number 17 is equal to 0
Residual for equation number 18 is equal to 0
SOLVE: maxit has been reached
??? Error using ==> steady_ at 132
STEADY: convergence problems
Error in ==> steady at 52
steady_;
Error in ==> dibbanksector5 at 197
steady;
Error in ==> dynare at 132
evalin(‘base’,fname) ;
Thanks
zlg122@126.com
//code for Dynare
var lambdabU, ZU, QZU, deltaZU,eU,deltaDU,
DU, DparU, sU,kLU, TU,rZU, rU,
rIBU,rDU ,piU , rLU,cbU; //
varexo e_ZU , e_QZU, e_DU , e_TU , e_kLU,e_eU;
parameters betab,Xz , deltaZ, RL, spar,
kpar, kL , deltaD, thetaL, thetaD,
phiRL, phiRD, Xk,RD,
rhoZ , rhoQz, rhoD, rhoT, rhokL,rhoe; // s ,
betab=0.994;
thetaD=2.9;
thetaL=6.3;
XZ=70;
Xk=2.41;
phiRL=5.5;
phiRD=4.0;
kpar=12.5;
kL=12;
deltaD=0.004;
deltaZ=0.004;
RD=1.0058;
RL=1.0219;
//s=0.82;
spar=0.82;
rhoZ=0.6;
rhoQz =0.7;
rhoD=0.5;
rhokL=0.5;
rhoT=0.8;
rhoe=0.8;
model;
# pi=3;
# R=pi/betab;
# RIB=R;
# RZ=R/(1-deltaZ);
# T=(kpar-kL)*Xk*R*pi/(kpar^2*deltaZ*(RL-1));
# s=((1+phiRD)*(RD-1)/phiRD-R+1+spar*R*deltaD)/deltaD;
# XsD=(RIB*(1-deltaD)-R)/(s-spar);
# Qz=kL*((RL-1)*(thetaL-1)*T/thetaL+T-RIB)/(RZ-R-(RL-1)*(kpar-kL)/kpar);
# XkQzZ=kpar^2*T*(RL-1)/(kpar-kL);
lambdabU(+1)=lambdabU-rU+piU(+1);//21
lambdabU=eU-cbU;//22
//betab*(1+lambdabU(+1))*(1+QZU(+1))/(pi*(1+piU(+1)))*((1-deltaZ*(1+deltaZU))*RZ*(1+rZU(+1))+Xz*((1+ZU(+1))*(1+piU(+1))*pi/(1+ZU)-pi)*((1+ZU(+1))*(1+piU(+1))*pi/(1+ZU))^2)=(1+lambdabU)*(1+QZU)*(1+Xz*((1+ZU)*(1+piU)*pi/(1+ZU(-1))-pi)*(1+ZU)*(1+piU)*pi/(1+ZU(-1)));//23
(1+lambdabU(+1)+QZU(+1)-lambdabU-QZU)*(1+rZU(+1)-betab*RZ*deltaZ*deltaZU/pi+Xz*betab*(ZU(+1)-ZU))=1+Xz*(ZU-ZU(-1));
//s*(1+sU)=spar+(RIB*(1+rIBU)*(1-deltaD*(1+deltaDU))-R*(1+rU))/(XsD*(1+DU));//24
s*(1+sU)=spar+(RIB*(1-deltaD)*(1+rIBU-DU)-R*(1+rU))/XsD;
//(1+thetaD)*(RD*(1+rDU)-1)/thetaD=s*(1+sU)*(RIB*(1+rIBU)-1)*(1-deltaD*(1+deltaDU))+(1-s*(1+sU))*(R*(1+rU)-1)-XsD*(1+DU)*(s*(1+sU)-spar)^2-phiRD*((1+rDU)/(1+rDU(-1))-1)*(1+rDU)/(thetaD*(1+rDU(-1)))+beta*phiRD*((1+rDU(+1))/(1+rDU)-1)*(1+rDU(+1))/(thetaD*(1+rDU));//25
//(1+thetaD)*(RD*(1+rDU)-1)/thetaD=s*(1+sU)*(RIB*(1+rIBU)-1)*(1-deltaD*(1+deltaDU))+(1-s*(1+sU))*(R*(1+rU)-1)-XsD*(1+DU)*(s*(1+sU)-spar)^2-phiRD*(rDU-rDU(-1))/thetaD+beta*phiRD*(rDU(+1)-rDU)/thetaD;//25
(1+thetaD)*(RD*(1+rDU)-1)/thetaD=s*RIB*(1+sU+rIBU)-s*deltaD*RIB*(1+sU+rIBU+deltaDU)-s*(1+sU)+s*deltaD*(1+sU+deltaDU)+R*(1+rU)-s*R*(1+sU+rU)-1+s*(1+sU)-(XsD*s*(1+DU+2*sU)+XsD*spar^2*(1+DU)-2*XsD*spar*s*(1+DU+sU))-phiRD*(rDU-rDU(-1))/thetaD+betab*phiRD*(rDU(+1)-rDU)/thetaD;
//(1+thetaD)*(RD*(1+rDU)-1)/thetaD=-phiRD*(rDU-rDU(-1))/thetaD+betab*phiRD*(rDU(+1)-rDU)/thetaD;
//RIB*(1+rIBU)=R*(1+rU)*(1+deltaD*(1+deltaDU))+XsD*(1+DU)*(s*(1+sU)-spar);//26
RIB*(1+rIBU)=R*(1+rU)+R*deltaD*(1+rU+deltaDU)+XsD*s*(1+deltaDU+sU)-XsD*spar*(1+DU);
(1+QZU(+1))/(1+QZU)*((1-deltaZ*(1+deltaZU))*RZ*(1+rZU(+1))+Xz*((1+ZU(+1))/(1+ZU)-1)*((1+ZU(+1))/(1+ZU))^2*pi*(1+piU(+1)))=R*(1+rU)*(1+Xz*((1+ZU)/(1+ZU(-1))-1)*((1+ZU)/(1+ZU(-1))));//27
//(1+QZU(+1)-QZU-rU)/R*(1+rZU(+1)-betab*RZ*deltaZ*deltaZU/pi+Xz*betab*(ZU(+1)-ZU))=1+Xz*(ZU-ZU(-1));
//RL*(1+rLU)=1+thetaL/(thetaL-1)*(RIB*(1+rIBU)+(RZ*(1+rZU(+1))-R*(1+rU)-(RL*(1+rLU)-1)*(kpar-kL*(1+kLU))/kpar)*Qz/kL*(1+QZU-kLU)-1)-phiRL*(rLU-rLU(-1))/(thetaL-1)+betab*phiRL*(rLU(+1)-rLU)/(thetaL-1);//28
RL*(1+rLU)=1+thetaL/(thetaL-1)*(RIB/T*(1+rIBU-TU)+RZ*Qz/(T*kL)*(1+rZU+QZU-kLU)-R*Qz/(T*kL)*(1+rU+QZU-kLU)-(RL*Qz/kL*(1+rLU+QZU-kLU)-Qz/kL*(1+QZU-kLU)-RL*Qz/kpar*(1+rLU+QZU)+Qz/kpar*(1+QZU))-1)-phiRL*(rLU-rLU(-1))/(thetaL-1)+betab*phiRL*(rLU(+1)-rLU)/(thetaL-1);//28
//(thetaL-1)/thetaL*RL*(1+rLU)=-phiRL*(rLU-rLU(-1))+betab*phiRL*(rLU(+1)-rLU);//28
//kL*(1+kLU)=kpar*(1-kpar*T*(1+TU)*RL*(1+rLU)/(XkQzZ*(1+QZU)*(1+ZU)));//29
kL*(1+kLU)=kpar*(1-(kpar-kL)/(kpar*(RL-1))*(RL-1+RL*(TU-QZU-ZU+rLU)-TU+QZU+ZU));
//1+deltaDU=(1+rU)*(1+piU(+1))/(1+DparU);//30
deltaDU=rU+piU(+1)-DparU;
//1+deltaZU=(1+rU)*(1+piU(+1))/((1+QZU)*(1+ZU));//31
deltaZU=rU+piU(+1)-QZU-ZU;
DparU=sU+DU;//37
ZU=rhoZ*ZU(-1)+e_ZU;//34
DU=rhoD*DU(-1)+e_DU;//35
TU=rhoT*TU(-1)+e_TU;//36
QZU=rhoQz*QZU(-1)+e_QZU;
kLU=rhokL*kLU(-1)+e_kLU;
eU=rhoe*eU(-1)+e_eU;
end;
resid(1);
//check;
steady (solve_algo = 2);
stoch_simul(order= 2,irf=20);
//shock_decomposition;