zero growth in the steady state

[Zuzana Mucka]

Hello,

I would like to declare the non-linear model as stationarized. I used "assign" method with the option "-growth" and structure of all model variables with values set to zero:

 

function p = setgrowthrates(params)

f = fieldnames(params);

c = cell(length(f),1);

for iter = 1:length(f)

c{iter} = 0;

end

p = cell2struct(c,f,1);

end

... in the m.file used as

m = assign(m, '-growth', setgrowthrates(get(m,'sstateGrowth')));

but it does not work as " disp(get(m,'sstateGrowth')) " displays all model variables with unit steady state growths.

Is it possible to somehow set growth to zero?

Thanks

Zuzana

 

 

 

 

 

 

 

 

 

 

[Michael Johnston]

When you look at the parameter structure, the real component is the level and the imaginary component is the growth rate in gross terms. Unit steady state growth rates in gross terms are equivalent to no growth. 

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[Jaromir Benes]

Minor clarification -- steady-state growth is described by *gross* rate of change for log-variables, i.e. x/x{-1}. For other variables, it is the period-on-period difference, x-x{-1}.

If you assign a zero to steady-state growth in a log-variable, IRIS automatically converts this to 1i (this means no growth -- if the gross rate of change is 1, the variable does not change over time) -- This is purely for convenience in dealing with stationary models with log-variables (without this automatic conversion, you'd have to manually assign all the 1i's to all log-variables).

[Zuzana Mucka]

Many thanks you for the clarification, it helped me a lot.