Nk_ck 08, nk_ckl09

Replication
1

Dear Community,

I see that no replication package is available for this two models:

Christoffel, K., Kuester, K., 2008. Resuscitating the wage channel in models with unemployment fluctuations. Journal of Monetary Economics 55, 865–887.

Christoffel, K., Kuester, K., Linzert, T., 2009. The role of labor markets for euro area monetary policy. European Economic Review 53, 908–936.

Does anybody know where it is possible to find those codes?

Thanks a lot
Manuel

2

Dear ManuelG,

Thank you for your interest in the MMB!

For several models that are implemented in the MMB, there is currently no original replication package available for download. Unfortunately, the models you referred to are among them.

However, you can still take a look at respective implementation codes for these models (in the folder “models” stored within the MMB directory, once you install it). This should help you to understand most of the equations and structure of the original model.

Hope this helps.
Best regards

3

Dear Lazar,

thanks for your reply!

Unfortunately I cannot spot a “models” folder in the MMB directory, am I missing something?

Thanks and Best Regards
Manuel

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4

Dear Manuel,

In MMB 3.0 the rest of the path (from the directory you posted) should be:
resources\app\dist\electron\static\mmci-cli\MODELS

In the new version that we plan to release soon, it will be easier to spot it.

Please let me know if you still have trouble to find the folder.
Best regards

5

Dear Lazar,

I have found them, thanks a lot for your help!

However, I cannot run the model since apparently some parameters are retrieved from a .mat file missing. Is it also possible to find those .mat files somewhere else?

Best Regards
Manuel

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6

Hi Manuel,

Yes, this is understandable. Within the replication package, you can run the models and replicate results.

However, this is the MMB package and it is necessary to run MMB in order to simulate models.

Once you start the MMB and select desirable options (policy rules, shocks etc.), those values are assigned and the models are simulated in the background, using the mod files you could find.

That is why I said that looking at these mod files could help you to understand the models’ structure, certain equations and similar. In case you want to do simulations, though, you would need to make necessary adjustments (set parameter values, change some equations, etc.).

Hope this helps.
Best

7

Thanks Lazar,

this is all clear. I managed to run the model now with some adjustment.

Best Regards,
Manuel

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