mshocks — specifies multiplicative deterministic shocks on exogenous variables
mshocks
;
[
var VARIABLE_NAME
;
periods INTEGER
[:INTEGER
]
[[,] INTEGER
[:INTEGER
]...];
values EXPRESSION
[[,] EXPRESSION
...];
...]end
;
The purpose of this command is similar to that of the shocks for deterministic shocks, except that the numeric values given will be interpreted in a multiplicative way. For example, if a value of 1.05
is given as shock value for some exogenous at some date, it means 5% above its steady state value (as given by the last initval or endval block).
This command is only meaningful in two situations:
on exogenous variables with a non-zero steady state, in a deterministic setup,
on deterministic exogenous variables with a non-zero steady state, in a stochastic setup.