random_path: Simulation of the model with a random path of shocks

In gEcon: General Equilibrium Economic Modelling Language and Solution Framework (gEcon)

Description

The function generates random shock paths based on the shock covariance matrix specified by the user and simulates the behaviour of the system.

Usage

random_path(model, variables = NULL, sim_length = 40)

Arguments

model	an object of gecon_model class.
variables	the names or indices of variables whose paths are to be simulated. By default all variables are selected.
sim_length	the length of simulation path, the default value is 40.

Details

Cf. gEcon users' guide, chapter ‘Model analysis’.

Value

An object of gecon_simulation class storing simulated paths of the model's variables.

See Also

The simulate_model function allows the user to specify her own shock paths and simulate their impact on the model's variables. This function also returns an object of gecon_simulation class. Generic functions such as print and summary provide information about simulations' results. The plot_simulation function allows to visualize the impact of simulated shock paths on the model's variables.

Examples

# copy the example to the current working directory
file.copy(from = file.path(system.file("examples", package = "gEcon"),
          "rbc.gcn"), to = getwd())

# make and load the model
rbc <- make_model("rbc.gcn")

# solve the model
rbc <- steady_state(rbc)
rbc <- solve_pert(rbc)

# perform simulation and plot the results
rbc <- set_shock_cov_mat(rbc, cov_matrix = matrix(0.01, 1, 1),
                         shock_order = "epsilon_Z")
rbc_rndpath <- random_path(rbc, variables = c("K_s", "C", "Z", "I", "Y"),
                           sim_length = 100)
plot_simulation(rbc_rndpath)

gEcon documentation built on May 2, 2019, 6:52 p.m.