The following example Dynare mod-files (and more) that solve particular problems encountered in Dynare or are representative for a particular class of models. dynare software to simulate the model under standard RBC parameter values. . Example 2 parameters gam beta delta alpha rhoa rhog sgs; // Parameters. A Dynare code that solves a non-linear model consists of the following parts: The steady state of the model: Example for initial starting values. initval;.

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The New Keynesian Model.

Examples (Dynare Reference Manual)

Journal of Economic Dynamics and Control, 51, In equilibrium, the optimal capital utilization is defined by: Dynare Codes Matlab Codes The standard New Keynesian model assumes that monopolistic competitive dynxre are price makers on the good market, but they cannot adjust prices as prices are sticky. CEE introduce variable capital utilization in order to match the data. The resources constraint now includes investment: Journal of monetary Economics, 12 3 They include in New Keynesian setup an indexation mechanism when firms are setting their price.

Its functional forms is defined by: The amount of capital utilized in the production is: Dynare Codes Matlab Codes To introduce asset price fluctuations, exam;le supplying investment goods face an investment adjustement costs given by: An estimated dynamic stochastic general equilibrium model dunare the euro area.

Evidence from an estimated DSGE model.

DSGE Dynare Model Matlab Codes

Journal of Macroeconomics, 54, Global banking and the conduct of macroprudential policy in a monetary union. Revue d Economie Politique. RBC Model with variable capital utilization. esample

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We find that country-adjusted macroprudential measures lead to significant welfare gains with respect to a uniform macroprudential policy rule that reacts to union-wide financial developments. All theses codes are based ezample the generalized Schur form to solve a systems of linear expectational difference equations.

I provide here the estimated model at the modenot the optimization exercise. Shocks and frictions in US business cycles: Among these firms, a fraction is not dynarr to set price, then the price remains the same such that.

We build and estimate a two-country DSGE model with corporate and interbank cross-border loans, Core-Periphery diverging financial cycles and a national implementation of coordinated macroprudential measures based on Countercyclical Capital Buffers. Cross-border banking flows spillovers in the Eurozone: The model is estimated using Bayesian techniques for the US economy. This equation shows that capital requires one period to be installed i.

Examples — Dynare

The Cobb-Douglas production function now combines labor, physical capital and technology to produce goods: I cannot give the data, these are internal to ECB and cannot be shared. However, peripheral countries are the winners from the implementation of macroprudential measures while core countries incur welfare losses, thus questioning the interest of adopting coordinated macroprudential measures with peripheral countries. Research in Economics, 69 4 This feature captures the autocorrelation of consumption observed in the data.

Financial frictions and the extensive margin of activity.

RBC Model with investment adjustment costs. For the share of firms allowed to reset their price, each firm maximizes the expected sum of profits: The law of motion of capital with investment adjustment costs is defined by: I present here the Calvo price setting.

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Additionally, the production function follows a Cobb-Douglas technology: The variable utilization of capital incurs a variable cost, denoted. The Cobb-Douglas production function now combines technology, labor and utilized capital: A monetary equilibrium model with transactions costs.

We extend the initial framework of Bilbiie, Ghironi and Melitz and augment it with real, nominal and financial frictions to get a data friendly model. eample

RBC Model with investment adjustment costs Dynare Codes Matlab Codes To introduce asset price fluctuations, households supplying investment goods face an investment adjustement costs given by: These costs drive a wedge between the price of assets and goods and offer a tradeoff beetwen capital goods and riskless bonds.

Nominal rigidities and the dynamic effects of a shock to monetary policy. The resources constraint is given by the demand from households and authorities: In particular in our model, for the fraction of firms not allowed to reset price, their selling price remains the same such that and indexed on examplee inflation in a proportion.

Staggered prices dynqre a utility-maximizing framework.

National bank of belgium working paper, Journal of political Economy, 1 Journal of the European economic association, 1 5 ,