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var Efficiency, efficiency;
varexo EfficiencyInnovation;
parameters rho, effstar, sigma;
/*
** Calibration
*/
rho = 0.950;
effstar = 1.000;
sigma = 0.1;
model;
// Eq. n°1:
efficiency = rho*efficiency(-1) + sigma*EfficiencyInnovation;
// Eq. n°2:
Efficiency = effstar*exp(efficiency);
end;
shocks;
var EfficiencyInnovation = 1;
end;
steady_state_model;
efficiency=0;
Efficiency=effstar;
end;
steady(nocheck);
extended_path(order=0,periods=100);
if ~oo_.extended_path.status
error('Extended path did not find solution in ep/ar_backward.mod')
end
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