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Hello

i'm currently using the student lite version of Eviews so i am not able to export my work.
I have attached a photo of my workfile and the system i use. I hope this will be helpful for you.

Hello, I'm estimating following model using a system with 2sls. gdp_deflator = c(1)*ulc + c(2)*gdp_deflator (+1) + c(3)*gdp_deflator (-1) c(1)= (1-c(4))*(1-c(5))*(1-c(6)*c(5))/(c(5)+c(4)*(1-c(5)*(1-c(6)))) c(2) = c(6)*c(5)/(c(5)+c(4)*(1-c(5)*(1-c(6)))) c(3) = c(4)/(c(5)+c(4)*(1-c(5)*(1-c(6)))) @inst...

I have thought that to, but in the orthogonality condition defined by Gali en Gertler (see below) they leave the lag inflation out of the equation.

E(t) {(π(t) - (1-ω)(1-θ)(1-βθ)/ϕ s(t)- θβ/ϕ π(t+1))z_t }=0

When i estimate the reduced model : πt=λmc+γf Et {π(t+1)}+γb π(t-1) with GMM i get estimates for λ, yf and yb. The main problem i have is that i don't know how i can estimate the deep parameters of the model according the the specifications: λ≡(1-ω)(1-θ)(1-βθ)/ϕ, γf≡βθ/ϕ, γb≡ω/ϕ, with: ϕ≡θ+ω[1-θ(1-β...

Dear sir, I have tried to change the initial parameter values. For the equation gdp_deflator = ((1-c(1))*(1-c(2))*(1-c(3)*c(2))/(c(2)+c(1)*(1-c(2)*(1-c(3)))))*ulc + ((c(3)*c(2))/(c(2)+c(1)*(1-c(2)*(1-c(3)))))*future_inflation with instruments: 4 lags of inflaton, the ouput gap, long short interest r...

Thank you for your reply

I don't quite understand how to change the initial parameter values.
Do you mean that I must rearrange the three underlying equations?

Hello, For my thesis I estimatie a hybrid model of the New Keynesian Phillips curve. According to Gali en Gertler (1999) the equation is as follows: π(t)=λmc(t) + γf E({π(t+1)} + γb π(t-1) where: λ≡(1-ω)(1-θ)(1-βθ)/ϕ, γf≡βθ/ϕ, γb≡ω/ϕ, with: ϕ≡θ+ω[1-θ(1-β)]. They estimate this model with GMM and use ...