In skranz/EconCurves: Drawing curves used in economic models

Model, Scenarios, and Story

Model

A model will contain all information to simulate a model if we have given values of exogenous parameters. In addition it can contain "default" values for panes, or scenarios, which can be overwritten or extended by particular stories.

Core elements of a model:

- endogenous variables and their equations for period t and initial values

Optional elements:

- curves that may be shown in stories and which can be used for defining variables
- panes in which curves can be shown and which stories can use
- a description of all exogenous parameters
- a basic scenario

Scenario

A scenario specifies the models exogenous parameters and stuff like axis limits of panes that will depend on those parameters.

• T: the number of periods
• params: starting values for all exogenous parameters
• shocks: shocks can change parameters in certain periods
• axis: limits for pane axis

Story

A story is a particular analysis of a model which will be accompagnied by economic interpretation and can also take the form of interactive exercises.

Lab

Allows a user to change parameters or a model: experimenting in a simple fashion

Initial values

One can specify different ways to specify initial values of variables and lagged variables.

Default:

Possible modes for default initial values: - NA initliazed with NA - "like_t" initialized like in period t (will typically fail for lagged variables) - "steady_state" set lag_var = var and solve system of equations

Default modes: - laginit: NA - init: "like_t" computed as in period t

One can overwrite the defaults for specific variables by specifying the init and / or laginit fields manually.

skranz/EconCurves documentation built on May 30, 2019, 1:07 a.m.