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Update yaml code blocks to match nk.yml file latest version.
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shtopane committed Jun 20, 2024
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18 changes: 9 additions & 9 deletions docs/guide/the_yaml.rst
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Expand Up @@ -33,14 +33,14 @@ The GitHub version of the YAML file for the small scale NK model can be found `h

.. code-block:: yaml
variables: [y, c, pi, r, rn, beta, w, chi]
variables: [y, c, pi, r, rn, beta, w]
shocks: [e_beta]
Note that it is not necessary to define shocks. You can also simply set the initial values of any (exogenous) state.

.. code-block:: yaml
parameters: [ theta, psi, phi_pi, phi_y, rho, h, eta, rho_beta, chi ]
parameters: [ theta, psi, phi_pi, phi_y, rho, h, sigma_l, rho_beta, chi ]
Use the ``parameters`` block to define any *parameters*. Parameters are treated the same as variables, but they are time invariant. During steady state search they are treated exactly equally. For this reason their values are provided in the ``steady_state`` block.

Expand All @@ -54,7 +54,7 @@ The second block (``definitions``) defines general definitions and imports, whic
.. code-block:: yaml
equations:
~ w = chi*(c - h*cLag)*y**eta # labor supply
~ w = chi*(c - h*cLag)*y**sigma_l # labor supply
~ 1 = r*betaPrime*(c - h*cLag)/(cPrime - h*c)/piPrime # euler equation
~ psi*(pi/piSS - 1)*pi/piSS = (1-theta) + theta*w + psi*betaPrime*(c-h*cLag)/(cPrime-h*c)*(piPrime/piSS - 1)*piPrime/piSS*yPrime/y # Phillips curve
~ c = (1-psi*(pi/piSS - 1)**2/2)*y # market clearing
Expand All @@ -71,16 +71,16 @@ Note that you need one equation for each variable defined in ``variables``.
fixed_values:
# parameters
theta: 6. # demand elasticity
psi: 96 # price adjustment costs
phi_pi: 4 # monetary policy rule coefficient #1
phi_y: 1.5 # monetary policy rule coefficient #2
psi: 60 # price adjustment costs
phi_pi: 1.5 # monetary policy rule coefficient #1
phi_y: 0.1 # monetary policy rule coefficient #2
rho: .8 # interest rate smoothing
h: .44 # habit formation
eta: .33 # inverse Frisch elasticity
h: .74 # habit formation
sigma_l: 2 # inverse Frisch elasticity
rho_beta: .9 # autocorrelation of discount factor shock
# steady state values
beta: 0.9984
beta: 0.995
y: .33
pi: 1.02^.25
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