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Monacelli (2005)’s Small Open Economy Model: Flexible Exchange Rates (A) Equilibrium Conditions of the Model (B) MATLAB Program to Solve the Model Monacelli (2005)’s Small Open Economy Model: Fixed Exchange Rates (A) Equilibrium Conditions of the Model (B) MATLAB Program to Solve the Model The Neoclassical Growth Model (A) Equilibrium Conditions of the Model (B) MATLAB Program to Solve the Model Hansen’s Real Business Cycle Model (A) Equilibrium Conditions of the Model (B) MATLAB Program to Solve the Model The Closed Economy Model of Chari, Kehoe and McGrattan (2007) (A) Equilibrium Conditions of the Model (B) MATLAB Program to Solve the Model The Small Open Economy Model of Otsu (2007) (A) Equilibrium Conditions of the Model (B) MATLAB Program to Solve the Model |
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LECTURE NOTES |
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SOME DERIVATIONS |
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PROGRAMS: SOLVING MODELS ****** I use Paul Klein’s approach to solve linear rational expectation models. To implement Paul Klein’s method, and to run the following programs written by me, you need 3 MATLAB m files: solab.m; qzswitch.m; and qzdiv.m. These MATLAB m files are available from Paul Klein’s website. The 2 MATLAB m files, qzswitch.m and qzdiv.m, are originally written by C. Sims. |
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PROGRAMS: ESTIMATING MODELS ****** I use the minimization program written by C. Sims to maximize the likelihood function. This wonderful program, csminwel.m, is available from C. Sims’ website. I have adjusted Paul Klein’s solabHO.m program to facilitate the numerical process. |
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Formulation of Likelihood Function a la Ireland (2004) Maximum Likelihood Estimation of the Wedges Processes in Chari, Kehoe, and McGrattan (2007)’s Prototype Closed Economy Models PS: Here the likelihood function follows the formulation of Anderson et al. (1996). Please consult Lecture 4 for details. Bayesian Estimation of the Wedges Processes in Chari, Kehoe, and McGrattan (2007)’s Prototype Closed Economy Models |