Starting preprocessing of the model file ... Found 10 equation(s). Evaluating expressions...done Computing static model derivatives (order 1). Computing dynamic model derivatives (order 3). Processing outputs ... done Preprocessing completed. [Warning: Some of the parameters have no value (psi) when using steady. If these parameters are not initialized in a steadystate file or a steady_state_model-block, Dynare may not be able to solve the model...] STEADY-STATE RESULTS: C 0.691985 H 0.3 I 0.212613 Z 1 mu 1 K 8.50453 Y 0.904598 C_obs 0.691985 H_obs 0.3 I_obs 0.212613 Residuals of the static equations: Equation number 1 : 0 : 1 Equation number 2 : 0 : 2 Equation number 3 : 0 : 3 Equation number 4 : 0 : 4 Equation number 5 : 0 : Y Equation number 6 : 0 : 6 Equation number 7 : 0 : 7 Equation number 8 : 0 : C_obs Equation number 9 : 0 : I_obs Equation number 10 : 0 : H_obs EIGENVALUES: Modulus Real Imaginary 0.72 0.72 0 0.95 0.95 0 0.9541 0.9541 0 1.059 1.059 0 7.418e+16 7.418e+16 0 4.029e+20 4.029e+20 0 There are 3 eigenvalue(s) larger than 1 in modulus for 3 forward-looking variable(s) The rank condition is verified. MODEL_DIAGNOSTICS: No obvious problems with this mod-file were detected. MODEL SUMMARY Number of variables: 10 Number of stochastic shocks: 2 Number of state variables: 3 Number of jumpers: 3 Number of static variables: 5 MATRIX OF COVARIANCE OF EXOGENOUS SHOCKS Variables epsZ epsM epsZ 0.000049 0.000000 epsM 0.000000 0.003600 MOMENTS OF SIMULATED VARIABLES VARIABLE MEAN STD. DEV. VARIANCE SKEWNESS KURTOSIS C 0.693719 0.017628 0.000311 0.394648 -1.092178 H 0.300232 0.001926 0.000004 -0.157067 -0.387307 I 0.219181 0.023720 0.000563 0.251829 -0.245641 Z 1.002972 0.021581 0.000466 0.078978 -0.936245 mu 0.986872 0.082421 0.006793 0.177967 0.180327 K 8.527129 0.292129 0.085339 0.453080 -1.083982 Y 0.908601 0.030362 0.000922 0.197351 -0.997619 C_obs 0.693719 0.017628 0.000311 0.394648 -1.092178 H_obs 0.300232 0.001926 0.000004 -0.157067 -0.387307 I_obs 0.219181 0.023720 0.000563 0.251829 -0.245641 CORRELATION OF SIMULATED VARIABLES VARIABLE C H I Z mu K Y C_obs H_obs I_obs C 1.0000 0.3884 0.4244 0.8448 0.0285 0.9829 0.9231 1.0000 0.3884 0.4244 H 0.3884 1.0000 0.5926 0.8211 0.0563 0.2119 0.7128 0.3884 1.0000 0.5926 I 0.4244 0.5926 1.0000 0.6067 -0.7350 0.3317 0.5693 0.4244 0.5926 1.0000 Z 0.8448 0.8211 0.6067 1.0000 0.0506 0.7317 0.9856 0.8448 0.8211 0.6067 mu 0.0285 0.0563 -0.7350 0.0506 1.0000 0.0187 0.0466 0.0285 0.0563 -0.7350 K 0.9829 0.2119 0.3317 0.7317 0.0187 1.0000 0.8363 0.9829 0.2119 0.3317 Y 0.9231 0.7128 0.5693 0.9856 0.0466 0.8363 1.0000 0.9231 0.7128 0.5693 C_obs 1.0000 0.3884 0.4244 0.8448 0.0285 0.9829 0.9231 1.0000 0.3884 0.4244 H_obs 0.3884 1.0000 0.5926 0.8211 0.0563 0.2119 0.7128 0.3884 1.0000 0.5926 I_obs 0.4244 0.5926 1.0000 0.6067 -0.7350 0.3317 0.5693 0.4244 0.5926 1.0000 AUTOCORRELATION OF SIMULATED VARIABLES VARIABLE 1 2 3 4 5 C 0.9923 0.9845 0.9757 0.9654 0.9544 H 0.8928 0.7885 0.6959 0.6050 0.5261 I 0.7922 0.6156 0.4970 0.3794 0.2978 Z 0.9438 0.8891 0.8397 0.7905 0.7468 mu 0.7099 0.4912 0.3747 0.2756 0.2043 K 0.9969 0.9937 0.9888 0.9823 0.9744 Y 0.9617 0.9243 0.8899 0.8551 0.8235 C_obs 0.9923 0.9845 0.9757 0.9654 0.9544 H_obs 0.8928 0.7885 0.6959 0.6050 0.5261 I_obs 0.7922 0.6156 0.4970 0.3794 0.2978 VARIANCE DECOMPOSITION SIMULATING ONE SHOCK AT A TIME (in percent) epsZ epsM Tot. lin. contr. C 100.20 0.00 100.20 H 100.20 0.00 100.20 I 43.55 59.29 102.84 Z 100.20 0.00 100.20 mu 0.00 100.20 100.20 K 100.20 0.00 100.20 Y 100.20 0.00 100.20 C_obs 100.20 0.00 100.20 H_obs 100.20 0.00 100.20 I_obs 43.55 59.29 102.84 Note: numbers do not add up to 100 due to i) non-zero correlation of simulated shocks in small samples and ii) nonlinearity stoch_simul:: The IRF of mu to epsZ is smaller than the irf_plot_threshold of 0.000 and will not be displayed. stoch_simul:: The IRF of C to epsM is smaller than the irf_plot_threshold of 0.000 and will not be displayed. stoch_simul:: The IRF of H to epsM is smaller than the irf_plot_threshold of 0.000 and will not be displayed. stoch_simul:: The IRF of Z to epsM is smaller than the irf_plot_threshold of 0.000 and will not be displayed. stoch_simul:: The IRF of K to epsM is smaller than the irf_plot_threshold of 0.000 and will not be displayed. stoch_simul:: The IRF of Y to epsM is smaller than the irf_plot_threshold of 0.000 and will not be displayed. stoch_simul:: The IRF of C_obs to epsM is smaller than the irf_plot_threshold of 0.000 and will not be displayed. stoch_simul:: The IRF of H_obs to epsM is smaller than the irf_plot_threshold of 0.000 and will not be displayed. Total computing time : 0h00m01s Note: warning(s) encountered in MATLAB/Octave code