Impulse response figures not comming up

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Impulse response figures not comming up

Postby stavakoli » Tue Nov 22, 2016 3:36 pm

Hi,

I have a small-open-economy RBC model in which the response of government investment to oil price fluctuations is a key transmission mechanism and the government saves its oil revenue in a sovereign wealth fund.
I solve the model. I have a problem that the figure for impulse response not coming up.
I checked my codes several times but i did not find the answer.
Codes are in the attached file.
stavakoli
 
Posts: 32
Joined: Tue Nov 22, 2016 3:13 pm

Re: Impulse response figures not comming up

Postby jpfeifer » Tue Nov 22, 2016 8:40 pm

There is no attached file.
------------
Johannes Pfeifer
University of Cologne
https://sites.google.com/site/pfeiferecon/
jpfeifer
 
Posts: 6940
Joined: Sun Feb 21, 2010 4:02 pm
Location: Cologne, Germany

Re: Impulse response figures not comming up

Postby stavakoli » Wed Nov 23, 2016 8:28 am

Attachment was too big to be load. So I wright codes here

var c l dd bb k i gc gi kg y r z po tb;
varexo e;
parameters d dg a q ro so yo fc fi gf rf w b s fz tc tl n po_ss gc_ss gi_ss bb_ss dd_ss rs;
d= 0.025;
dg=0.025;
a=1/3;
q=0.1;
ro=0.8;
so=0.121;
fc=0.5;
fi=0.5;
gf=0.01;
rf=0.005;
w=3;
b=0.99;
s=2;
fz=-0.5;
tc=0.2;
tl=0.1;
n=0.0007;
gc_ss=0.93;
yo=0.5;
gi_ss=0.3;
bb_ss=79.08;
dd_ss=42.98;
rs=0.01;
po_ss=1;

model;
k=(1-d)*k(-1)+i;
y=(k(-1)^a)*(kg(-1)^q)*(l^(1-a));
ln(po)=ro*ln(po(-1))+e;
kg=(1-dg)*kg(-1)+gi;
z=fz*(bb(-1)-bb_ss);
gc=gc_ss+fc*((po*yo)-(po_ss)*yo);
gi=gi_ss+fi*((po*yo)-(po_ss)*yo);
l^w=((1-tl)/(1+tc))*(1-a)*y;
(c-(l^w))^s=b*((c(+1)-(l(+1)^w))^(-s))*(1-d+a*(y(+1)/k));
(c-(l^w))^s=b*((c(+1)-(l(+1)^w))^(-s))*(1+r);
(c-(l^w))^s=b*((c(+1)-(l(+1)^w))^(-s))*(1+rs+n*((exp(dd-dd_ss))-1));
bb=gc+gi+z+(1+r(-1))*b(-1)-(tc*c+tl*(1-a)*y+po*yo);
y+po*yo+(dd-dd(-1))=c+i+gc+gi+(rs*dd(-1));
tb=y+po*yo-c-i-gc-gi;
end;

initval;
k=63.54;
kg=12;
i=1.59;
gi=0.3;
gc=0.93;
y=6.69;
l=1.50;
c=4.19;
bb=54.33;
z=0;
r=0.01;
dd=17.98;
po=1;
e=0;
tb=0.18;
end;

resid;
check;

shocks;
var e; stderr 0.1;
end;

stoch_simul;
stavakoli
 
Posts: 32
Joined: Tue Nov 22, 2016 3:13 pm

Re: Impulse response figures not comming up

Postby stavakoli » Wed Nov 23, 2016 8:47 am

jpfeifer wrote:There is no attached file.

Can you help me?
stavakoli
 
Posts: 32
Joined: Tue Nov 22, 2016 3:13 pm

Re: Impulse response figures not comming up

Postby jpfeifer » Wed Nov 23, 2016 9:16 am

As the unstable version says:
stoch_simul:: The simulations conducted for generating IRFs to e were explosive.
stoch_simul:: No IRFs will be displayed. Either reduce the shock size,
stoch_simul:: use pruning, or set the approximation order to 1.
------------
Johannes Pfeifer
University of Cologne
https://sites.google.com/site/pfeiferecon/
jpfeifer
 
Posts: 6940
Joined: Sun Feb 21, 2010 4:02 pm
Location: Cologne, Germany

Re: Impulse response figures not comming up

Postby stavakoli » Wed Nov 23, 2016 9:48 am

jpfeifer wrote:As the unstable version says:
stoch_simul:: The simulations conducted for generating IRFs to e were explosive.
stoch_simul:: No IRFs will be displayed. Either reduce the shock size,
stoch_simul:: use pruning, or set the approximation order to 1.

How can I solve the problem and what is the meaning of :
use pruning, or set the approximation order to 1
stavakoli
 
Posts: 32
Joined: Tue Nov 22, 2016 3:13 pm

Re: Impulse response figures not comming up

Postby jpfeifer » Wed Nov 23, 2016 9:51 am

Use
Code: Select all
stoch_simul(order=1);

or
Code: Select all
stoch_simul(pruning);

You may want to consider the manual.
------------
Johannes Pfeifer
University of Cologne
https://sites.google.com/site/pfeiferecon/
jpfeifer
 
Posts: 6940
Joined: Sun Feb 21, 2010 4:02 pm
Location: Cologne, Germany

Re: Impulse response figures not comming up

Postby stavakoli » Wed Nov 23, 2016 10:30 am

jpfeifer wrote:Use
Code: Select all
stoch_simul(order=1);

or
Code: Select all
stoch_simul(pruning);

You may want to consider the manual.

thank u Johannes
stavakoli
 
Posts: 32
Joined: Tue Nov 22, 2016 3:13 pm


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