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Newsflash

Release of Dynare 4.0.4

This is a bug fixing release. See the Download menu for list of changes

Release notes:

* for users of Octave under Windows, you must upgrade your Octave installation to 3.0.5 release, for compatibility with the new packages (see http://www.dynare.org/DynareWiki/DynareOctave )
* Linux packages are available for Ubuntu "Jaunty Jackalope" (9.04), Ubuntu "Intrepid Ibex" (8.10), Ubuntu "Hardy Heron" (8.04) and Debian
"Lenny" (5.0) as usual (see http://www.dynare.org/DynareWiki/InstallOnDebianOrUbuntu )

Course: Global Sensitivity Analysis for Macroeconomic Models

Ispra (Italy), October 1-2, 2009. The scope of the course is to give an introduction to methods of global sensitivity analysis and their application to Dynamic Stochastic General Equilibrium (DSGE) macroeconomic models. It is mainly addressed to Dynare users.  Registartion deadline: August 31, 2009 [Additional information]

The 5th Dynare Conference

took place in  Oslo, August 31-September 1, 2009, thanks to the hospitality of the Norges Bank. Conference Program and papers .

Dynare Summer School

The Dynare Summer School will take place at Paris School of Economics June 22-26, 2009. Application deadline May 22, 2009. (See details) 

 Dynare Reference Manual

The Dynare reference manual has been updated for version 4. See the documentation section. A PDF version is also available.

DLL problems with Matlab version 7.8 (2009)

Changes in the last version of Matlab break a DLL used in second order approximation when used with Matlab 64 bit  See http://www.dynare.org/DynareWiki/DllMatlabVersions for mode details.

Forums have moved

We are in the process to change server. The forums have already moved to

http://www.dynare.org/phpBB3 

On the forum screen, click on login if you need to get a new password. This may be necessary if you use accented letters in your username or password.

Expect more changes in the coming weeks.

Release of Dynare 4.0

Dynare 4.0 for Windows 32-bit is available in the Download section of the web site. It take the form of a EXE installer that you need to execute on your machine. Binary packages for Linux (Debian and Ubuntu) are also available see http://www.cepremap.cnrs.fr/DynareWiki/InstallOnDebianOrUbuntu

The documentation is still in development. The current version of the reference manual and the user guide is available in the package. Additional information can be found on http://www.cepremap.cnrs.fr/DynareWiki/TableOfContents.

A bug fixing release, 4.0.1, is now available.   

The 4th Dynare Conference

has taken place in  Boston September 4-5, 2008, thanks to the hospitality of Jeff Fuhrer and Scott Schuh at the Boston Federal Reserve Bank.   Conference Program.  

Dynare Summer School

The Dynare Summer School will take place at Paris School of Economics June 30, 2008-July 4, 2008. Application deadline May 18, 2008. (See details) 

The 3rd DYNARE conference

has been moved to Paris. It will take place September 10-11 on PSE campus, 48 bd Jourdan, 75014 Paris. [Conference Program, updated September 18, 2007] 

Practicing DYNARE

by F. Barillas, R. Colacito, S. Kitao, C. Matthes, T. Sargent and Y. Shin. July 2007.  This paper teaches Dynare by applying it to approximate equilibria and estimate nine dynamic economic models. Among the models estimated are a 1977 rational expectations model of hyperinflation by Sargent, Hansen, Sargent, and Tallarini’s risk-sensitive permanent income model, and one and two-country stochastic growth models.  The examples.zip file contains dynare *.mod and data files that implement the examples in the paper. [Paper][examples.zip]

DYNARE User Guide

Tommaso Mancini has released a beta version of the Dynare User Guide. June 2007. You will find it in the Documentation section. There is also a new forum for remarks and suggestions on the User Guide. Thanks in advance for your feedback. 

Dynare version 3.065

Dynare version 3.065 is available for download. It is a bug correcting release. See Recent Changes. There are still the following open issues:

  • Dynare may report wrong (finite) variance for nonstationary variables
  • On can't put OLR inside a loop 
  • The pdf version of the manual is still not fixed.

Dynare++ version 1.3.2 with Ramsey policy released

New features include: Automatic generation of the first order conditions of the optimal policy given an objective and (possibly) forward looking constraints. Automatic initialization of the new Lagrange multipliers for steady state calcs. Automatic generation of Matlab functions supporting the steady state calcs outside the Dynare++. Check out the tutorial.

The 2006 Dynare Conference

took place at University Paris 1, September 4-5, 2006.  Plenary talks were given by John Geweke and Chris Sims. The program of the conference is available [HERE].

Development versions of Dynare

As some users encounter difficulties working with SVN, we also provide now daily snapshots of the current development of Dynare version 3, Dynare version 4 and Dynare++. See in the download section.

For Dynare version 3, the snapshots contain the last bug fixes as problems are reported by users. For Dynare version 4 and Dynare++, the snapshots contain the current state of our development efforts and may not be working at all for a couple of days. Please report a problem as soon as you spot it.

Dynare version 3.064

Dynare version 3.064 is available for download. It is a bug correcting release. See Recent Changes. The pdf version of the manual is still not fixed.

Dynare version 4

is available for testing starting February 12, 2006. It is distributed via Subversion. See the Version 4 menu item.

DSGE-NET

We are happy to announce the creation of DSGE-NET an international  research network for DSGE modeling, monetary and fiscal policy.

The web site is www.dsge.net

In recent years, development of dynamic stochastic general equilibrium modeling made it an important tool for analysis of economic policy.

DSGE-NET aims at bringing together researchers from policy institutions and from academia. This web site should serve as a resource keeping references of work done in the area of DSGE modeling. It will  also carry announcement of conferences, workshops and Summer schools. In addition, the network aims at sponsoring such events. It  will also support the development of software tools for DSGE modeling.

Individual researchers are invited to register in the network through the login form and to contribute references as well as announcements.  PhD students are also encouraged to join.

Dynare++

Thanks to Ondra Kamenik, version 1.2.1 of Dynare++ has been released (08/17/2005).

Examples

A collection of RBC models has been contributed by Jesus Fernandez-Villaverde (see Examples).
 
What is Dynare?
Dynare is a pre-processor and a collection of MATLAB or SCILAB routines which solve non--linear models with forward looking variables. It is the result of research carried at CEPREMAP by several people (see Laffargue, 1990, Boucekkine, 1995, and Juillard, 1996, Collard and Juillard 2001, 2001b). Although it can be put to other use, Dynare has been built in order to study the transitory dynamics of non-linear models with consistent expectations.

For deterministic simulations, Dynare uses a Newton-type algorithm, first proposed by Laffargue (1990), instead of a first order technique like the one proposed by Fair and Taylor (1983), and used in earlier generation simulation programs. We believe this approach to be in general both faster and more robust. The details of the algorithm used in Dynare can be found in Juillard (1996).

In a stochastic context, Dynare computes one or several simulations corresponding to a random draw of the shocks. Starting with version 2.3 , Dynare uses a second order Taylor approximation of the expectation functions (see Judd, 1992, Collard and Juillard, 2001a, 2001b and Schmitt--Grohe and Uribe, 2002).

Starting with version 3.0, it is possible to use Dynare to estimate model parameters either by maximum likelihood as in Ireland (2004) or using a Bayesian approach as in Rabanal and Rubio-Ramirez (2002), Schorfheide (2000) or Smets and Wouters (2002).

Dynare++ is a standalone C++ version of Dynare specialized in computing k-order approximations of dynamic stochastic general equilibrium models. The current version calculates the approximation of decision rules around the deterministic or stochastic steady state, runs a number of simulations and dumps all the results to Matlab MAT file.

The main features of Dynare++ are:

  • completely standalone, no commercial software needed
  • output readable in Matlab and Scilab
  • contains a tensor library for evaluation of Faa Di Bruno formula
  • highly paralellized
  • takes advantage of kronecker product structure
  • links with ATLAS and LAPACK

Currently the development team of Dynare is composed of S. Adjemian, M. Juillard and O. Kamenik. Several parts of Dynare use or have strongly benefited from publicly available programs by F. Collard, L. Ingber, P. Klein, S. Sakata, F. Schorfheide, C. Sims, P. Soederlind and R. Wouters.

 
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