Hi everyone!!
I want to replicate philip liu’s paper which name is ‘A small new keyesian model of newzealand economy’.
I made a code for that paper and used the same data as author’s. Data and M.files are able to get by Liu’s homepage.
But I got a different result by above paper(parameter’s value, IRF results etc).
I don’t know what’s the problem.
I attached the data, .mod file, liu’s paper.
Please review my files and know me what’s wrong.
Thank you in advance!!
nz2.mod (2.78 KB)
data_nz.xls (25 KB)
nz.pdf (407 KB)