| A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 | Parameters | Time | Shocks | Monetary policy | Endogenous variables (under Taylor rule) | Endogenous variables (general solution with 0-bound) | ||||||||||||||||||||
2 | cost | demand | risk | pi_target | deviation_TR | Output gap | Inflation | Nom. int. | Real int. | Unemp. rate | Output gap | Inflation | Nom. int. | Real int. | Unemp. rate | |||||||||||
3 | Structural Parameters | -4 | 0 | 0 | 0 | 2 | 0 | 0 | 2 | 4 | 2 | 5 | 0 | 2 | 4 | 2 | 5 | |||||||||
4 | alpha | IS curve elasticity | 1 | -3 | 0 | 0 | 0 | 2 | 0 | 0 | 2 | 4 | 2 | 5 | 0 | 2 | 4 | 2 | 5 | |||||||
5 | phi | Phillips curve C elasticity | 0.25 | -2 | 0 | 0 | 0 | 2 | 0 | 0 | 2 | 4 | 2 | 5 | 0 | 2 | 4 | 2 | 5 | |||||||
6 | rho | Long-run real interest rate | 2 | -1 | 0 | 0 | 0 | 2 | 0 | 0 | 2 | 4 | 2 | 5 | 0 | 2 | 4 | 2 | 5 | |||||||
7 | u_n | Natural rate of unemp. | 5 | impact | 0 | 0 | 0 | 5 | 2 | 0 | -2.352941176 | 1.411764706 | 1.058823529 | 4.352941176 | 6.176470588 | -2.352941176 | 1.411764706 | 1.058823529 | 4.352941176 | 6.176470588 | ||||||
8 | beta | Okun's law elasticity | 0.5 | 1 | 0 | 0 | 4.5 | 2 | 0 | -2.048442907 | 1.193771626 | 1.14532872 | 4.048442907 | 6.024221453 | -2.048442907 | 1.193771626 | 1.14532872 | 4.048442907 | 6.024221453 | |||||||
9 | 2 | 0 | 0 | 4.05 | 2 | 0 | -1.811031956 | 1.144127824 | 1.333095868 | 3.811031956 | 5.905515978 | -1.811031956 | 1.144127824 | 1.333095868 | 3.811031956 | 5.905515978 | ||||||||||
10 | Monetary Policy Parameters | 3 | 0 | 0 | 3.645 | 2 | 0 | -1.614603273 | 1.168413094 | 1.55380982 | 3.614603273 | 5.807301637 | -1.614603273 | 1.168413094 | 1.55380982 | 3.614603273 | 5.807301637 | |||||||||
11 | theta_pi | Taylor rule inflation coef. | 0.5 | 4 | 0 | 0 | 3.2805 | 2 | 0 | -1.445930952 | 1.222723809 | 1.776792857 | 3.445930952 | 5.722965476 | -1.445930952 | 1.222723809 | 1.776792857 | 3.445930952 | 5.722965476 | |||||||
12 | theta_y | Taylor rule output gap coef. | 1 | 5 | 0 | 0 | 2.95245 | 2 | 0 | -1.297943978 | 1.28687591 | 1.988931933 | 3.297943978 | 5.648971989 | -1.297943978 | 1.28687591 | 1.988931933 | 3.297943978 | 5.648971989 | |||||||
13 | pi_target_init | Initial inflation target | 2 | 6 | 0 | 0 | 2.657205 | 2 | 0 | -1.16655246 | 1.35179984 | 2.18524738 | 3.16655246 | 5.58327623 | -1.16655246 | 1.35179984 | 2.18524738 | 3.16655246 | 5.58327623 | |||||||
14 | 7 | 0 | 0 | 2.3914845 | 2 | 0 | -1.049145628 | 1.413613513 | 2.364467885 | 3.049145628 | 5.524572814 | -1.049145628 | 1.413613513 | 2.364467885 | 3.049145628 | 5.524572814 | ||||||||||
15 | Shock Persistence Parameters (omega) | 8 | 0 | 0 | 2.15233605 | 2 | 0 | -0.943877378 | 1.470837412 | 2.526960034 | 2.943877378 | 5.471938689 | -0.943877378 | 1.470837412 | 2.526960034 | 2.943877378 | 5.471938689 | |||||||||
16 | cost | cost-push shock | 0 | 9 | 0 | 0 | 1.937102445 | 2 | 0 | -0.8493231991 | 1.523087906 | 2.673764707 | 2.849323199 | 5.4246616 | -0.8493231991 | 1.523087906 | 2.673764707 | 2.849323199 | 5.4246616 | |||||||
17 | demand | demand shock | 0.9 | 10 | 0 | 0 | 1.743392201 | 2 | 0 | -0.7643125539 | 1.570465815 | 2.806153261 | 2.764312554 | 5.382156277 | -0.7643125539 | 1.570465815 | 2.806153261 | 2.764312554 | 5.382156277 | |||||||
18 | risk | risk-premium shock | 0.9 | 11 | 0 | 0 | 1.56905298 | 2 | 0 | -0.6878444396 | 1.613271797 | 2.925427358 | 2.68784444 | 5.34392222 | -0.6878444396 | 1.613271797 | 2.925427358 | 2.68784444 | 5.34392222 | |||||||
19 | 12 | 0 | 0 | 1.412147682 | 2 | 0 | -0.6190426502 | 1.651875236 | 3.032832586 | 2.61904265 | 5.309521325 | -0.6190426502 | 1.651875236 | 3.032832586 | 2.61904265 | 5.309521325 | ||||||||||
20 | Other parameters | 13 | 0 | 0 | 1.270932914 | 2 | 0 | -0.5571302227 | 1.686655062 | 3.12952484 | 2.557130223 | 5.278565111 | -0.5571302227 | 1.686655062 | 3.12952484 | 2.557130223 | 5.278565111 | |||||||||
21 | gamma | share of past inflation | 0.5 | 14 | 0 | 0 | 1.143839623 | 2 | 0 | -0.5014133592 | 1.717974191 | 3.216560832 | 2.501413359 | 5.25070668 | -0.5014133592 | 1.717974191 | 3.216560832 | 2.501413359 | 5.25070668 | |||||||
22 | delta | share of demand offset in SR | 0 | 15 | 0 | 0 | 1.02945566 | 2 | 0 | -0.4512702157 | 1.746169542 | 3.294899326 | 2.451270216 | 5.225635108 | -0.4512702157 | 1.746169542 | 3.294899326 | 2.451270216 | 5.225635108 | |||||||
23 | No. of quarters for inflation target | 100 | 16 | 0 | 0 | 0.9265100944 | 2 | 0 | -0.4061423435 | 1.771549185 | 3.365406842 | 2.406142343 | 5.203071172 | -0.4061423435 | 1.771549185 | 3.365406842 | 2.406142343 | 5.203071172 | ||||||||
24 | 17 | 0 | 0 | 0.833859085 | 2 | 0 | -0.3655277088 | 1.794392665 | 3.428864956 | 2.365527709 | 5.182763854 | -0.3655277088 | 1.794392665 | 3.428864956 | 2.365527709 | 5.182763854 | ||||||||||
25 | 18 | 0 | 0 | 0.7504731765 | 2 | 0 | -0.3289747496 | 1.814952645 | 3.485977896 | 2.32897475 | 5.164487375 | -0.3289747496 | 1.814952645 | 3.485977896 | 2.32897475 | 5.164487375 | ||||||||||
26 | Useful calculations | 19 | 0 | 0 | 0.6754258588 | 2 | 0 | -0.296077186 | 1.833457026 | 3.53737984 | 2.296077186 | 5.148038593 | -0.296077186 | 1.833457026 | 3.53737984 | 2.296077186 | 5.148038593 | |||||||||
27 | AD slope constant | -4 | 20 | 0 | 0 | 0.607883273 | 2 | 0 | -0.2664694256 | 1.850111157 | 3.583641731 | 2.266469426 | 5.133234713 | -0.2664694256 | 1.850111157 | 3.583641731 | 2.266469426 | 5.133234713 | ||||||||
28 | Ygap equilibrium denominator constant | 2.125 | 21 | 0 | 0 | 0.5470949457 | 2 | 0 | -0.2398224634 | 1.865099962 | 3.625277499 | 2.239822463 | 5.119911232 | -0.2398224634 | 1.865099962 | 3.625277499 | 2.239822463 | 5.119911232 | ||||||||
29 | 22 | 0 | 0 | 0.4923854511 | 2 | 0 | -0.2158402079 | 1.878589929 | 3.662749721 | 2.215840208 | 5.107920104 | -0.2158402079 | 1.878589929 | 3.662749721 | 2.215840208 | 5.107920104 | ||||||||||
30 | 23 | 0 | 0 | 0.443146906 | 2 | 0 | -0.1942561827 | 1.890730919 | 3.696474736 | 2.194256183 | 5.097128091 | -0.1942561827 | 1.890730919 | 3.696474736 | 2.194256183 | 5.097128091 | ||||||||||
31 | AD - AS curves at the steady-state | 24 | 0 | 0 | 0.3988322154 | 2 | 0 | -0.1748305624 | 1.901657819 | 3.726827256 | 2.174830562 | 5.087415281 | -0.1748305624 | 1.901657819 | 3.726827256 | 2.174830562 | 5.087415281 | |||||||||
32 | y_gap | AD - pi | AS - pi | 25 | 0 | 0 | 0.3589489938 | 2 | 0 | -0.1573475052 | 1.911492033 | 3.754144528 | 2.157347505 | 5.078673753 | -0.1573475052 | 1.911492033 | 3.754144528 | 2.157347505 | 5.078673753 | |||||||
33 | -5 | 22 | 0.75 | 26 | 0 | 0 | 0.3230540945 | 2 | 0 | -0.1416127542 | 1.920342828 | 3.778730074 | 2.141612754 | 5.070806377 | -0.1416127542 | 1.920342828 | 3.778730074 | 2.141612754 | 5.070806377 | |||||||
34 | -4 | 18 | 1 | 27 | 0 | 0 | 0.290748685 | 2 | 0 | -0.1274514786 | 1.928308544 | 3.800857066 | 2.127451479 | 5.063725739 | -0.1274514786 | 1.928308544 | 3.800857066 | 2.127451479 | 5.063725739 | |||||||
35 | -3 | 14 | 1.25 | 28 | 0 | 0 | 0.2616738165 | 2 | 0 | -0.1147063306 | 1.93547769 | 3.820771359 | 2.114706331 | 5.057353165 | -0.1147063306 | 1.93547769 | 3.820771359 | 2.114706331 | 5.057353165 | |||||||
36 | -2 | 10 | 1.5 | 29 | 0 | 0 | 0.2355064349 | 2 | 0 | -0.1032356975 | 1.94192992 | 3.838694223 | 2.103235698 | 5.051617849 | -0.1032356975 | 1.94192992 | 3.838694223 | 2.103235698 | 5.051617849 | |||||||
37 | -1 | 6 | 1.75 | 30 | 0 | 0 | 0.2119557914 | 2 | 0 | -0.09291212775 | 1.947736928 | 3.854824801 | 2.092912128 | 5.046456064 | -0.09291212775 | 1.947736928 | 3.854824801 | 2.092912128 | 5.046456064 | |||||||
38 | 0 | 2 | 2 | 31 | 0 | 0 | 0.1907602122 | 2 | 0 | -0.08362091497 | 1.952963235 | 3.86934232 | 2.083620915 | 5.041810457 | -0.08362091497 | 1.952963235 | 3.86934232 | 2.083620915 | 5.041810457 | |||||||
39 | 1 | -2 | 2.25 | 32 | 0 | 0 | 0.171684191 | 2 | 0 | -0.07525882346 | 1.957666912 | 3.882408088 | 2.075258823 | 5.037629412 | -0.07525882346 | 1.957666912 | 3.882408088 | 2.075258823 | 5.037629412 | |||||||
40 | 2 | -6 | 2.5 | 33 | 0 | 0 | 0.1545157719 | 2 | 0 | -0.06773294112 | 1.961900221 | 3.89416728 | 2.067732941 | 5.033866471 | -0.06773294112 | 1.961900221 | 3.89416728 | 2.067732941 | 5.033866471 | |||||||
41 | 3 | -10 | 2.75 | 34 | 0 | 0 | 0.1390641947 | 2 | 0 | -0.060959647 | 1.965710199 | 3.904750552 | 2.060959647 | 5.030479824 | -0.060959647 | 1.965710199 | 3.904750552 | 2.060959647 | 5.030479824 | |||||||
42 | 4 | -14 | 3 | 35 | 0 | 0 | 0.1251577752 | 2 | 0 | -0.0548636823 | 1.969139179 | 3.914275496 | 2.054863682 | 5.027431841 | -0.0548636823 | 1.969139179 | 3.914275496 | 2.054863682 | 5.027431841 | |||||||
43 | 5 | -18 | 3.25 | 36 | 0 | 0 | 0.1126419977 | 2 | 0 | -0.04937731407 | 1.972225261 | 3.922847947 | 2.049377314 | 5.024688657 | -0.04937731407 | 1.972225261 | 3.922847947 | 2.049377314 | 5.024688657 | |||||||
44 | 37 | 0 | 0 | 0.101377798 | 2 | 0 | -0.04443958266 | 1.975002735 | 3.930563152 | 2.044439583 | 5.022219791 | -0.04443958266 | 1.975002735 | 3.930563152 | 2.044439583 | 5.022219791 | ||||||||||
45 | Phillips curves at the steady-state | 38 | 0 | 0 | 0.09124001816 | 2 | 0 | -0.0399956244 | 1.977502461 | 3.937506837 | 2.039995624 | 5.019997812 | -0.0399956244 | 1.977502461 | 3.937506837 | 2.039995624 | 5.019997812 | |||||||||
46 | y_gap | SR - u | LR - u | 39 | 0 | 0 | 0.08211601634 | 2 | 0 | -0.03599606196 | 1.979752215 | 3.943756153 | 2.035996062 | 5.017998031 | -0.03599606196 | 1.979752215 | 3.943756153 | 2.035996062 | 5.017998031 | |||||||
47 | -5 | 7.5 | 5 | 40 | 0 | 0 | 0.07390441471 | 2 | 0 | -0.03239645576 | 1.981776994 | 3.949380538 | 2.032396456 | 5.016198228 | -0.03239645576 | 1.981776994 | 3.949380538 | 2.032396456 | 5.016198228 | |||||||
48 | -4 | 7 | 5 | 41 | 0 | 0 | 0.06651397324 | 2 | 0 | -0.02915681019 | 1.983599294 | 3.954442484 | 2.02915681 | 5.014578405 | -0.02915681019 | 1.983599294 | 3.954442484 | 2.02915681 | 5.014578405 | |||||||
49 | -3 | 6.5 | 5 | 42 | 0 | 0 | 0.05986257591 | 2 | 0 | -0.02624112917 | 1.985239365 | 3.958998236 | 2.026241129 | 5.013120565 | -0.02624112917 | 1.985239365 | 3.958998236 | 2.026241129 | 5.013120565 | |||||||
50 | -2 | 6 | 5 | 43 | 0 | 0 | 0.05387631832 | 2 | 0 | -0.02361701625 | 1.986715428 | 3.963098412 | 2.023617016 | 5.011808508 | -0.02361701625 | 1.986715428 | 3.963098412 | 2.023617016 | 5.011808508 | |||||||
51 | -1 | 5.5 | 5 | 44 | 0 | 0 | 0.04848868649 | 2 | 0 | -0.02125531463 | 1.988043886 | 3.966788571 | 2.021255315 | 5.010627657 | -0.02125531463 | 1.988043886 | 3.966788571 | 2.021255315 | 5.010627657 | |||||||
52 | 0 | 5 | 5 | 45 | 0 | 0 | 0.04363981784 | 2 | 0 | -0.01912978316 | 1.989239497 | 3.970109714 | 2.019129783 | 5.009564892 | -0.01912978316 | 1.989239497 | 3.970109714 | 2.019129783 | 5.009564892 | |||||||
53 | 1 | 4.5 | 5 | 46 | 0 | 0 | 0.03927583606 | 2 | 0 | -0.01721680485 | 1.990315547 | 3.973098742 | 2.017216805 | 5.008608402 | -0.01721680485 | 1.990315547 | 3.973098742 | 2.017216805 | 5.008608402 | |||||||
54 | 2 | 4 | 5 | 47 | 0 | 0 | 0.03534825245 | 2 | 0 | -0.01549512436 | 1.991283993 | 3.975788868 | 2.015495124 | 5.007747562 | -0.01549512436 | 1.991283993 | 3.975788868 | 2.015495124 | 5.007747562 | |||||||
55 | 3 | 3.5 | 5 | 48 | 0 | 0 | 0.03181342721 | 2 | 0 | -0.01394561193 | 1.992155593 | 3.978209981 | 2.013945612 | 5.006972806 | -0.01394561193 | 1.992155593 | 3.978209981 | 2.013945612 | 5.006972806 | |||||||
56 | 4 | 3 | 5 | 49 | 0 | 0 | 0.02863208449 | 2 | 0 | -0.01255105073 | 1.992940034 | 3.980388983 | 2.012551051 | 5.006275525 | -0.01255105073 | 1.992940034 | 3.980388983 | 2.012551051 | 5.006275525 | |||||||
57 | 5 | 2.5 | 5 | 50 | 0 | 0 | 0.02576887604 | 2 | 0 | -0.01129594566 | 1.993646031 | 3.982350085 | 2.011295946 | 5.005647973 | -0.01129594566 | 1.993646031 | 3.982350085 | 2.011295946 | 5.005647973 | |||||||
58 | 2 | |||||||||||||||||||||||||
59 | ||||||||||||||||||||||||||
60 | AD - AS curves at the impact period of the shocks | |||||||||||||||||||||||||
61 | y_gap | AD - pi | AS - pi | |||||||||||||||||||||||
62 | -5 | 12 | 0.75 | |||||||||||||||||||||||
63 | -4 | 8 | 1 | |||||||||||||||||||||||
64 | -3 | 4 | 1.25 | |||||||||||||||||||||||
65 | -2 | 0 | 1.5 | |||||||||||||||||||||||
66 | -1 | -4 | 1.75 | |||||||||||||||||||||||
67 | 0 | -8 | 2 | |||||||||||||||||||||||
68 | 1 | -12 | 2.25 | |||||||||||||||||||||||
69 | 2 | -16 | 2.5 | |||||||||||||||||||||||
70 | 3 | -20 | 2.75 | |||||||||||||||||||||||
71 | 4 | -24 | 3 | |||||||||||||||||||||||
72 | 5 | -28 | 3.25 | |||||||||||||||||||||||
73 | ||||||||||||||||||||||||||
74 | Phillips curves at the impact period of the shocks | |||||||||||||||||||||||||
75 | y_gap | SR - u | LR - u | |||||||||||||||||||||||
76 | -5 | 7.5 | 5 | |||||||||||||||||||||||
77 | -4 | 7 | 5 | |||||||||||||||||||||||
78 | -3 | 6.5 | 5 | |||||||||||||||||||||||
79 | -2 | 6 | 5 | |||||||||||||||||||||||
80 | -1 | 5.5 | 5 | |||||||||||||||||||||||
81 | 0 | 5 | 5 | |||||||||||||||||||||||
82 | 1 | 4.5 | 5 | |||||||||||||||||||||||
83 | 2 | 4 | 5 | |||||||||||||||||||||||
84 | 3 | 3.5 | 5 | |||||||||||||||||||||||
85 | 4 | 3 | 5 | |||||||||||||||||||||||
86 | 5 | 2.5 | 5 | |||||||||||||||||||||||
87 | ||||||||||||||||||||||||||
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100 |