Dear all,
I encounter a problem when I compute a steady state and I use the SW2007 model to treat the China economic. I find that the endogenous steady state are initial value when the mode compute=1.
Thank you so much for your help
What do you mean? The SW2007 model is linearized and does not require initial values for the steady state. Also, mode-finding is about the parameters, not the steady state values.
Thank you Johannes, I need the steady state values in my paper. Such as the lab, L bar. In the SW2007 model, the parameters are set as:
estimated_params;
// PARAM NAME, INITVAL, LB, UB, PRIOR_SHAPE, PRIOR_P1, PRIOR_P2, PRIOR_P3, PRIOR_P4, JSCALE
// PRIOR_SHAPE: BETA_PDF, GAMMA_PDF, NORMAL_PDF, INV_GAMMA_PDF
constelab,1.2918,-10.0,10.0,NORMAL_PDF,0.0,2.0;
ctrend,0.3982,0.1,0.8,NORMAL_PDF,0.4,0.10;
cgy,0.05,0.01,2.0,NORMAL_PDF,0.5,0.25;
calfa,0.24,0.01,1.0,NORMAL_PDF,0.3,0.05;
Here the mode compute=1, and I delete the mode_file=usmodel_shock_decomp_mode
The results:
oo_.steady_state
1.29180000000000
1.94478161951552
0.700000000000000
0.398200000000000
0.398200000000000
0.398200000000000
0.398200000000000
So the initial values are the steady state values.
oo_.steady_state might not be the right place to look. oo_.dr.ys should be the last steady state. Does mode_compute=1 also return the initial values as the mode? And do the mode_check-plots look good?