DynareOBC v3.30.53.1962

This version introduces a new option OtherMODFile for specifying an additional MOD file based on the same model as the original one, but solved around an alternative steady-state. If this OtherMODFile is provided, then when DynareOBC encounters an impossible problem during simulation (not IRFs), it will switch to the alternate MOD file, i.e. the agents in the model will switch their beliefs about the steady state to which they expect to converge in the long run. This switching can also happen exogenously at random, controlled by the OtherMODFileSwitchToProbability and OtherMODFileSwitchFromProbability options. One caveat is warranted though: even when Cubature is enabled, the agents in the model will not be assigning positive probability to the possibility of a switch of steady states. Thus this may only be a crude approximation to rational behaviour.

An example of the use of these command is included in the script RunMultipleSteadyStatesExample.m within the Examples\FernandezVillaverdeEtAl2015 subdirectory. This is an NK example with the main MOD file NKNonDeflationary.mod solved around the standard (positive inflation) steady state, and the additional MOD file NKDeflationary.mod solved around the deflationary steady state, with the indeterminacy resolved following the approach of Farmer, Khramov & Nicolò (2015).

This version also introduces a SkipAllSimulation option, which does what it says on the tin. It also fixes a minor issue where parallel pools were opened unnecessarily in some circumstances.