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Gali_regimeA.log
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Gali_regimeA.log
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Starting Dynare (version 6.0).
Calling Dynare with arguments: none
Starting preprocessing of the model file ...
Found 25 equation(s).
Evaluating expressions...
Computing static model derivatives (order 1).
Normalizing the static model...
Normalization failed with cutoff, trying symbolic normalization...
Finding the optimal block decomposition of the static model...
5 block(s) found:
4 recursive block(s) and 1 simultaneous block(s).
the largest simultaneous block has 21 equation(s)
and 21 feedback variable(s).
Computing dynamic model derivatives (order 1).
Normalizing the dynamic model...
Finding the optimal block decomposition of the dynamic model...
5 block(s) found:
4 recursive block(s) and 1 simultaneous block(s).
the largest simultaneous block has 21 equation(s)
and 19 feedback variable(s).
Preprocessing completed.
Preprocessing time: 0h00m00s.
STEADY-STATE RESULTS:
G 0
b 1.05286
R 1.00503
pi 1
T 0.00529075
m 1.31607
Tstar 0
gm 1
um 0.0894156
uc 17.8831
Z 1
un 15.6903
w 0.877383
A 1
mc 0.888889
N 0.333333
pistar 1
x1 27.4817
x2 30.9169
pitile 1
D 1
Y 0.438691
C 0.438691
lamb 17.8831
r 1.00503
EIGENVALUES:
Modulus Real Imaginary
0 0 0
6.978e-17 -6.978e-17 0
0.5 0.5 0
0.5 0.5 0
0.5 0.5 0
0.5 0.5 0
0.5463 0.5463 0
0.75 0.75 0
1 1 0
1.143 1.143 0
1.34 1.34 0
1.507 1.507 0
1.048e+17 1.048e+17 0
3.515e+17 3.515e+17 0
Inf Inf 0
There are 6 eigenvalue(s) larger than 1 in modulus for 6 forward-looking variable(s)
The rank condition is verified.
MODEL SUMMARY
Number of variables: 25
Number of stochastic shocks: 4
Number of state variables: 9
Number of jumpers: 6
Number of static variables: 12
MATRIX OF COVARIANCE OF EXOGENOUS SHOCKS
Variables epsA epsG epsT epsZ
epsA 0.000000 0.000000 0.000000 0.000000
epsG 0.000000 0.000000 0.000000 0.000000
epsT 0.000000 0.000000 1.000000 0.000000
epsZ 0.000000 0.000000 0.000000 0.000000
POLICY AND TRANSITION FUNCTIONS
T m b Y C pi r gm N R
Constant 0.005291 1.316074 1.052859 0.438691 0.438691 1.000000 1.005025 1.000000 0.333333 1.005025
G(-1) 0 -1.191174 0 0.434824 -0.065176 0.712306 -0.074713 -0.192791 0.440526 0.096419
b(-1) 0.020000 0.054039 1.000000 -0.004016 -0.004016 -0.029068 0.014508 0.011993 -0.004069 -0.006640
R(-1) 0 0.626451 0 0.040491 0.040491 0.179599 -0.147298 0.655599 0.041022 -0.048688
m(-1) 0 0.595000 0 0.038458 0.038458 0.170582 -0.139903 -0.137152 0.038962 -0.046244
Tstar(-1) 0.500000 -0.101469 0 -0.033092 -0.033092 -0.167857 0.101143 -0.244957 -0.033526 -0.000736
A(-1) 0 0.648082 0 0.049268 0.049268 -0.272966 -0.013251 0.219470 -0.172308 -0.047972
D(-1) 0 -1.098329 0 -0.107115 -0.107115 0.462606 -0.100065 -0.371944 0.224814 0.073625
Z(-1) 0 -0.240361 0 0.041981 0.041981 0.101238 0.020960 -0.081397 0.042532 0.037371
epsA 0 1.296164 0 0.098536 0.098536 -0.545932 -0.026502 0.438940 -0.344617 -0.095943
epsG 0 -1.045116 0 0.381507 -0.057184 0.624965 -0.065552 -0.169151 0.386510 0.084596
epsT -0.438691 0.089028 0 0.029034 0.029034 0.147275 -0.088741 0.214921 0.029415 0.000646
epsZ 0 -0.480723 0 0.083962 0.083962 0.202476 0.041920 -0.162795 0.085063 0.074743
THEORETICAL MOMENTS
VARIABLE MEAN STD. DEV. VARIANCE
T NaN NaN NaN
m NaN NaN NaN
b NaN NaN NaN
Y NaN NaN NaN
C NaN NaN NaN
pi NaN NaN NaN
r 1.0050 0.1143 0.0131
gm NaN NaN NaN
N NaN NaN NaN
R NaN NaN NaN
VARIANCE DECOMPOSITION (in percent)
epsA epsG epsT epsZ
r 0.00 0.00 100.00 0.00
MATRIX OF CORRELATIONS
Variables r
r 1.0000
COEFFICIENTS OF AUTOCORRELATION
Order 1 2 3 4 5
r 0.6302 0.3862 0.2320 0.1372 0.0802
Total computing time : 0h00m04s