Commit 29353112 authored by Thomas Brand's avatar Thomas Brand

Add GAMMAB as risk premium on govt bonds.

parent 89801443
shocks;
var TAUC_EXO; stderr 1;
var TAUN_EXO; stderr 1;
var TAUWH_EXO; stderr 1;
var TAUWF_EXO; stderr 1;
var TAULS_EXO; stderr 1;
var A_EXO; stderr 1;
var XIA_EXO; stderr 1;
var MU_EXO; stderr 1;
var ZETAI_EXO; stderr 1;
var EPS_EXO; stderr 1;
var EPSW_EXO; stderr 1;
var R_EXO; stderr 1;
var D_EXO; stderr 1;
var XIB_EXO; stderr 1;
%var TAUC_EXO; stderr 1;
%var TAUN_EXO; stderr 1;
%var TAUWH_EXO; stderr 1;
%var TAUWF_EXO; stderr 1;
%var TAULS_EXO; stderr 1;
%var A_EXO; stderr 1;
%var XIA_EXO; stderr 1;
%var MU_EXO; stderr 1;
%var ZETAI_EXO; stderr 1;
%var EPS_EXO; stderr 1;
%var EPSW_EXO; stderr 1;
%var R_EXO; stderr 1;
%var D_EXO; stderr 1;
%var XIB_EXO; stderr 1;
var GC_EXO; stderr 1;
var GI_EXO; stderr 1;
var T_EXO; stderr 1;
var OTHGOV_EXO; stderr 1;
var SIGMA_EXO; stderr 1;
var GAMMAN_EXO; stderr 1;
var YW_EXO; stderr 1;
var POIL_EXO; stderr 1;
%var GI_EXO; stderr 1;
%var T_EXO; stderr 1;
%var OTHGOV_EXO; stderr 1;
%var SIGMA_EXO; stderr 1;
%var GAMMAN_EXO; stderr 1;
%var YW_EXO; stderr 1;
%var POIL_EXO; stderr 1;
end;
......@@ -27,6 +27,7 @@ KP
GAMMAPRC
GAMMAPRI
GAMMABW
GAMMAB
GAMMAC
GAMMAI
GAMMAU
......
......@@ -14,6 +14,7 @@ GAMMAI=0;
GAMMAU=0;
COSTI=0;
GAMMABW=0;
GAMMAB=1;
GAMMAX=0;
GAMMAPRC=0;
GAMMAPRI=0;
......
......@@ -15,7 +15,8 @@ C=(1-omega)*CR+omega*CNR;
% Intra-households tranfers
iota*TNR=(1-iota)*TR;
% Euler equation for domestic public bonds
LAMBDA=XIB*beta*LAMBDA(+1)/Z(+1)*R/PI(+1);
LAMBDA=GAMMAB*beta*LAMBDA(+1)/Z(+1)*R/PI(+1);
GAMMAB=XIB*exp(0.001*(B-BBAR));
% Euler equation for foreign public bonds
LAMBDA=beta*LAMBDA(+1)/Z(+1)*RW*(1-GAMMABW)/PI(+1)*DELTAEX(+1);
% External financial intermediation premium
......
// --+ options: fast +--
@#includepath "../common"
@#include "parameters.inc"
......
Markdown is supported
0% or
You are about to add 0 people to the discussion. Proceed with caution.
Finish editing this message first!
Please register or to comment