-
Notifications
You must be signed in to change notification settings - Fork 0
/
STEADYB.m
26 lines (21 loc) · 582 Bytes
/
STEADYB.m
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
%%==========================================================
%% Compute steady state of the calibrated New Keynesian model
%% ys: vector of steady-state values in endo_names order
%%==========================================================
function [ys] = STEADYB()
global M_
delta = M_.params(5);
r = M_.params(6);
omegah = M_.params(7);
eta = M_.params(8);
alpha = M_.params(9);
[u0,vu0,s,zeta]=BLS();
n0=(1-u0)./(1-s);
l0=n0.*(1-zeta);
g0=n0.*zeta;
th0=vu0;
R0=1./delta;
q=@(x)omegah.*x.^(-eta);
y0=l0^alpha;
c0=y0-r./q(th0).*(s.*n0);
ys =[1;c0;0;l0;n0;th0;R0;g0];