Title: Dynare: Reference Manual. Version 4
Authors: ADJEMIAN StéphaneBASTANI HoutanJUILLARD MichelMIHOUBI FerhatPERENDIA GeorgeRATTO MarcoVILLLEMOT Sébastien
Citation: Dynare Working Papers Series no. 1 p. 1-73
Publisher: CEPREMAP
Publication Year: 2011
JRC Publication N°: JRC66587
URI: http://www.dynare.org/wp-repo/dynarewp001.pdf
http://publications.jrc.ec.europa.eu/repository/handle/JRC66587
Type: Articles in Journals
Abstract: Dynare is a software platform for handling a wide class of economic models, in particular dynamic stochastic general equilibrium (DSGE) and overlapping generations (OLG) models. The models solved by Dynare include those relying on the rational expectations hypothesis, wherein agents form their expectations about the future in a way consistent with the model. But Dynare is also able to handle models where expectations are formed differently: on one extreme, models where agents perfectly anticipate the future; on the other extreme, models where agents have limited rationality or imperfect knowledge of the state of the economy and, hence, form their expectations through a learning process. In terms of types of agents, models solved by Dynare can incorporate consumers, productive firms, governments, monetary authorities, investors and financial intermediaries. Some degree of heterogeneity can be achieved by including several distinct classes of agents in each of the aforementioned agent categories.
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