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var MC EH EF R_KF QF CF IF YF LF PIEF WF RF R_KH QH CH IH YH LH PIEH WH RH EE_A PIE_BAR EE_B EE_G EE_L EE_I KF KH ONE;
varexo E_A E_B E_G E_L E_I ETA_R E_PIE_BAR ETA_Q ETA_P ETA_W ;
parameters xi_e lambda_w alpha czcap beta phi_i tau sig_c hab ccs cinvs phi_y gamma_w xi_w gamma_p xi_p sig_l r_dpi r_pie r_dy r_y rho rho_a rho_pb rho_b rho_g rho_l rho_i ;
alpha=.30;
beta=0.99;
tau=0.025;
ccs=0.6;
cinvs=.22;
lambda_w = 0.5;
phi_i= 6.771;
sig_c= 1.353;
hab= 0.573;
xi_w= 0.737;
sig_l= 2.400;
xi_p= 0.908;
xi_e= 0.599;
gamma_w= 0.763;
gamma_p= 0.469;
czcap= 0.169;
phi_y= 1.408;
r_pie= 1.684;
r_dpi= 0.14;
rho= 0.961;
r_y= 0.099;
r_dy= 0.159;
rho_a= 0.823;
rho_b= 0.855;
rho_g= 0.949;
rho_l= 0.889;
rho_i= 0.927;
rho_pb= 0.924;
model;
CF = (1/(1+hab))*(CF(1)+hab*CF(-1))-((1-hab)/((1+hab)*sig_c))*(RF-PIEF(1)-EE_B) ;
0 = alpha*R_KF+(1-alpha)*WF -EE_A ;
PIEF = 0*ONE;
IF = (1/(1+beta))* (( IF(-1) + beta*(IF(1)))+(1/phi_i)*QF)+0*ETA_Q+EE_I ;
QF = -(RF-PIEF(1))+(1-beta*(1-tau))*((1+czcap)/czcap)*R_KF(1)+beta*(1-tau)*QF(1) +0*EE_I ;
KF = (1-tau)*KF(-1)+tau*IF(-1) ;
YF = (ccs*CF+cinvs*IF)+EE_G ;
YF = 1*phi_y*( alpha*KF+alpha*(1/czcap)*R_KF+(1-alpha)*LF+EE_A ) ;
WF = (sig_c/(1-hab))*(CF-hab*CF(-1)) + sig_l*LF - EE_L ;
LF = R_KF*((1+czcap)/czcap)-WF+KF ;
EF = EF(-1)+EF(1)-EF+(LF-EF)*((1-xi_e)*(1-xi_e*beta)/(xi_e));
CH = (hab/(1+hab))*CH(-1)+(1/(1+hab))*CH(1)-((1-hab)/((1+hab)*sig_c))*(RH-PIEH(1)-EE_B) ;
IH = (1/(1+beta))* (( IH(-1) + beta*(IH(1)))+(1/phi_i)*QH )+1*ETA_Q+1*EE_I ;
QH = -(RH-PIEH(1))+(1-beta*(1-tau))*((1+czcap)/czcap)*R_KH(1)+beta*(1-tau)*QH(1) +EE_I*0+0*ETA_Q ;
KH = (1-tau)*KH(-1)+tau*IH(-1) ;
YH = (ccs*CH+cinvs*IH)+ EE_G ;
YH = phi_y*( alpha*KH+alpha*(1/czcap)*R_KH+(1-alpha)*LH ) +phi_y*EE_A ;
PIEH = (1/(1+beta*gamma_p))*
(
(beta)*(PIEH(1)) +(gamma_p)*(PIEH(-1))
+((1-xi_p)*(1-beta*xi_p)/(xi_p))*(MC)
) + ETA_P ;
MC = alpha*R_KH+(1-alpha)*WH -EE_A;
WH = (1/(1+beta))*(beta*WH(+1)+WH(-1))
+(beta/(1+beta))*(PIEH(+1))
-((1+beta*gamma_w)/(1+beta))*(PIEH)
+(gamma_w/(1+beta))*(PIEH(-1))
-(1/(1+beta))*(((1-beta*xi_w)*(1-xi_w))/(((1+(((1+lambda_w)*sig_l)/(lambda_w))))*xi_w))*(WH-sig_l*LH-(sig_c/(1-hab))*(CH-hab*CH(-1))+EE_L)
+ETA_W;
LH = R_KH*((1+czcap)/czcap)-WH+KH ;
RH = r_dpi*(PIEH-PIEH(-1))
+(1-rho)*(r_pie*(PIEH(-1)-PIE_BAR)+r_y*(YH-YF))
+r_dy*(YH-YF-(YH(-1)-YF(-1)))
+rho*(RH(-1)-PIE_BAR)
+PIE_BAR
+ETA_R;
EH = EH(-1)+EH(1)-EH+(LH-EH)*((1-xi_e)*(1-xi_e*beta)/(xi_e));
EE_A = (rho_a)*EE_A(-1) + E_A;
PIE_BAR = rho_pb*PIE_BAR(-1)+ E_PIE_BAR ;
EE_B = rho_b*EE_B(-1) + E_B ;
EE_G = rho_g*EE_G(-1) + E_G ;
EE_L = rho_l*EE_L(-1) + E_L ;
EE_I = rho_i*EE_I(-1) + E_I ;
ONE = 0*ONE(-1) ;
end;
vcov = [0.357604 0 0 0 0 0 0 0 0 0;
0 0.112896 0 0 0 0 0 0 0 0;
0 0 0.105625 0 0 0 0 0 0 0;
0 0 0 12.39040 0 0 0 0 0 0;
0 0 0 0 0.722500 0 0 0 0 0;
0 0 0 0 0 0.656100 0 0 0 0;
0 0 0 0 0 0 0.000289 0 0 0;
0 0 0 0 0 0 0 0.364816 0 0;
0 0 0 0 0 0 0 0 0.025600 0;
0 0 0 0 0 0 0 0 0 0.083521];
order = 1;
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