19 Oct
2011
19 Oct
'11
9:17 a.m.
I am puzzled by the problem reported by the first poster in this thread:
http://www.dynare.org/phpBB3/viewtopic.php?f=1&t=2829
I am able to reproduce the problem at 2nd and 3rd order, but not at 1st.
At 2nd order, given the decision rules, is it clear that for a shock to "eta", if "e" is maintained to zero, then "a" should remain constant.
However it is not what happens in the IRF graphs: "a" moves, by a not so small amount.
Is this a bug in the IRF generation code, or am I missing something obvious?
Best,
--
Sébastien Villemot
Researcher in Economics at CEPREMAP & Debian Maintainer
http://www.dynare.org/sebastien
Phone: +33-1-40-77-49-90 - GPG Key: 4096R/381A7594