Matlab codes for escape dynamics
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.
|Date of creation:||2002|
|Contact details of provider:|| Postal: P.O. Box 442, St. Louis, MO 63166|
Web page: http://dge.repec.org/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:dge:qmrbcd:71. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christian Zimmermann)
If references are entirely missing, you can add them using this form.