getsteadystate.m (840B)
1 %%% Give the long-run values for important variables for some important cases (proposition 2 and proposition 5 from the Leopold paper); they were previously derived analytically. 2 3 function [sstar, ellstar, sigmastar, dltastar, ystar, zstar, gs, gc, gh, gdelta] = getsteadystate(dltabar,ubar,epsilon,beta,gamma,dlta0, Nend,alpha,lambda,phi,rho,nbar) 4 5 sstar=0; 6 ellstar=0; 7 dltastar=0; 8 9 alp=alpha*lambda/(1-phi); 10 gbar=alp*nbar; 11 12 denominator=(1+alp)*(gamma + epsilon - 1); 13 gs=-gbar*(gamma-1-beta+epsilon)/denominator - nbar*(epsilon - beta)/denominator; 14 15 ystar=lambda*(nbar+gs)/(1-phi); 16 zstar=lambda*nbar/(1-phi); 17 18 gc = alpha*ystar + gs; 19 gh = gbar; 20 21 sigmastar = (lambda*alpha*zstar)/(rho + (gamma -1)*gc + (1-phi + lambda*alpha)*zstar); 22 23 gdelta = -(gamma-1)*gc; 24 %%% apparently no "end" keyword if the function is inside a file of its own. 25 26 end