What does it mean to numerically compute the steady-state in Dynare vs MATLAB скачать в хорошем качестве

What does it mean to numerically compute the steady-state in Dynare vs MATLAB

This is a Zoom recording (hope the quality is still okay) of a session on computing the steady-state of DSGE models numerically. I try to explain what the underlying objective function is and what it means to use numerical optimization techniques. This is illustrated by the RBC model, preprocessed manually in MATLAB and using different optimization methods. I also compare this to what Dynare's steady command does. Note that Dynare's steady command is capable to do much more things than I cover in this video, but I still hope this is useful for people to understand the underlying objective and approach. Slides, notes and codes: https://mutschler.eu/teaching/steadys... *Timestamps* 00:00 - Start 00:10 - Recap how to preprocess DSGE models with MATLAB 06:56 - Preprocess RBC model with MATLAB 11:50 - (Not so good) explanation of how numerical optimizers (e.g. Newton-Raphson) work 18:26 - Vector-valued vs scalar objective functions 24:04 - MATLAB: Provide initial values 26:49 - MATLAB: Create function handle for vector-valued optimizers 30:26 - MATLAB: use fsolve to find steady-state numerically 34:34 - MATLAB: use lsqnonlin with bounds to find steady-state numerically 39:27 - MATLAB: use fminsearch and sum-of-squared-residuals objective function to find steady-state numerically 45:09 - MATLAB: use patternsearch and sum-of-squared-residuals objective function to find steady-state numerically 47:17 - Compare residuals and sum-of-squared-residuals 50:25 - Compare steady-states computed with MATLAB vs with Dynare vs the analytical way 58:33 - Additional info on the steady command in Dynare *References* Dynare Manual *Corrections* - Checkout https://mutschler.eu/dynare for more stuff on DSGE models and Dynare.