Questions from DSGE beginner

[bok1234]

Hi,
Recently, I have some econometric works related to DSGE model.
About this I have several questions as a beginner in running DSGE model.

1. As fas as I know, many professors and students are using "Dynare" for solving DSGE model.
In running DSGE model what is the difference between Dynare and WinRATS?
Is Dynare more flexible and superior in solving DSGE model?
What is the limit of WinRATS in running DSGE model?
For reference, I am using WinRATS pro 7.30 and my organization have plan to buy WinRATS ver.8 sooner or later.

2. I have already found some useful examples such as dsgetools.src, dsgecontrol.src, etc at the ESTIMA site.
Would you introduce me more helpful examples and WinRATS codes related to DSGE model?
I would really appreciate If you should send me some files through e-mail.

Best regards,

Seung

[moderator]

With version 7, the DSGE instruction is documented in the RATS 7.xx Supplement PDF file included with your copy of RATS, so I would start by looking there. We added several features and made significant internal tweaks to DSGE with versions 7.2 and 7.3--those changes are documented in the 7.3 supplement.

In version 8, you will find (expanded) DSGE documentation in the new manuals.

The DSGE support in RATS is fairly extensive, but I'm sure there are some things that are better or more easily handled in Dynare due to the fact that it is specifically designed expressly for DSGE analysis. However, in RATS you have access to all of the other capabilities of the program--data handling, VAR analysis, etc. So from that standpoint, RATS may offer significant advantages in terms of dealing with a complete analysis project.

A few suggestions:

If you have existing Dynare code, we do have a tool available for converting that code into the equivalent in RATS. There are of course limitations to this, but it can be very handy. See:

http://www.estima.com/dynareconvert/dynareconvert.shtml

We do have several example programs using DSGE available. You can find some on our site and on the forum. You may want to do a search on "DSGE(" from the main (www.estima.com) page. More examples are included in RATS 8.

Finally, you might be interested in purchasing the course materials package from our State Space/DSGE course from 2009. You can find some basic information, with links to more details, here:

http://www.estima.com/courses_completed.shtml

The cost of the course materials is $50.

Regards,
Tom Maycock
Estima

[bok1234]

Thank you for your fast and kind reply.
I am interested in "the course materials." and plan to get this ASAP.

Let me ask you something.
While placing my order, I found 6 postal rates.
Among them, last one, that is, "Any destination: No Printed Manuals (PDFs only): Free shipping"
means that "through e-mail" I can get every Course materials including PDF handbook, programs, examples, procedures
if I should buy the State Space/DSGE course materials package?
Or this condition means that I will get a CD including only pdf files(except programs, examples and procedures)?

Sincerely,

Seung

[moderator]

We normally just email the course materials. The email includes zip files with the PDF workbooks, the example programs, data files, and procedures.

If you really want it on CD instead, we can do that. Just specify in the "comments" section of the checkout page that you would like a CD. There is no charge for mailing a CD (for that, you can choose the first (UPS Ground or US Mail) or last (Any destination) shipping options).

Regards,
Tom Maycock
Estima