Change/Re-endogenize a variable in FRBUS
Posted: Wed Jan 07, 2015 11:21 am
I'm running model simulations using the Federal Reserve's public FRBUS model (see here: http://www.federalreserve.gov/econresda ... ackage.htm)
The model includes several variables that estimate pre-set monetary policy rules. The user sets the monetary policy assumption through use of a flag.
What I'd like to do is modify the parameters of an existing rule (if you're familiar with FRBUS, it's the general rule, "rffgen"). What I am trying to do is first unlink the variable I'm trying to modify, then appending the new rule back to the model:
However, when FRBUS tries to assign baseline tracking add factors, it reports an error ("The model contains errors and could not be compiled in 'DO_STDVER.ADDASSIGN @ALL"
One alternative would be to manually edit the equation and coefficient text files; however, that's quite clunky. I'd like to be able to dynamically use different rule specifications in different programs without having to go into the saved equations manually.
The model includes several variables that estimate pre-set monetary policy rules. The user sets the monetary policy assumption through use of a flag.
What I'd like to do is modify the parameters of an existing rule (if you're familiar with FRBUS, it's the general rule, "rffgen"). What I am trying to do is first unlink the variable I'm trying to modify, then appending the new rule back to the model:
Code: Select all
{%varmod}.unlink rffgen
{%varmod}.append rffgen = rffe(-1) + 0.5*(picxfe(3)-2) - 0.5*(xgap2(3)-xgap2(-1))One alternative would be to manually edit the equation and coefficient text files; however, that's quite clunky. I'd like to be able to dynamically use different rule specifications in different programs without having to go into the saved equations manually.