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Matlab codes for escape dynamics

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Author Info

  • Andrea Gerali

    (Banca d'Italia)

  • Francesco Lippi

    (Banca d'Italia)

Abstract

A set of matlab programs simulate the escape dynamics described in `The Conquest of American Inflation' (Princeton University Press, 1999) by Thomas Sargent. The programs are very useful for promoting intuition about the random events and endogenous forces that promote the escape from Nash to Ramsey inflation. The progams simulate the static version of the model described by Cho, Williams, and Sargent (2001, available on this web page). The programs work in matlab 5 and probably in matlab 6. The programs use a more general version of the model, in which a weight b for the policy maker's weight on inflation (which is, in Cho, Williams, and Sargent and Sargent (Conquest, 1999), both set equal to 1). Gerali and Lippi have a forthcoming paper in which they study the effects of variations of this parameter on the nature and frequency of escapes from Nash. To run the programs, type Escape, then respond to questions.

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File URL: http://dge.repec.org/codes/gerali/
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Bibliographic Info

Software component provided by Quantitative Macroeconomics & Real Business Cycles in its series QM&RBC Codes with number 71.

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Programming language: Matlab
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Date of creation: 2002
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Handle: RePEc:dge:qmrbcd:71

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