Dynare: Reference Manual, Version 7

Stéphane Adjemian, Michel Juillard, Fréderic Karamé, Willi Mutschler, Johannes Pfeifer, Marco Ratto, Normann Rion and Sébastien Villemot

No 87, Dynare Working Papers from CEPREMAP

Abstract: Dynare is a software platform for handling a wide class of economic models, in particular dynamic stochastic general equilibrium (DSGE), overlapping generations (OLG) models, heterogeneous agent models (HA) and semi-structural macroeconomic models. The models solved by Dynare include those relying on the rational expectations hypothesis, wherein agents form their expectations about the future in a way consistent with the model. But Dynare is also able to handle models where expectations are formed differently: on one extreme, models where agents perfectly anticipate the future; on the other extreme, models where agents have limited rationality or imperfect knowledge of the state of the economy and, hence, form their expectations through a learning process. Dynare offers a user-friendly and intuitive way of describing these models. It is able to perform simulations of the model given a calibration of the model parameters and is also able to estimate these parameters given a dataset. Dynare is a free software, which means that it can be downloaded free of charge, that its source code is freely available, and that it can be used for both non-profit and for-profit purposes.

Keywords: Dynare; Numerical methods; Perturbation; Rational expectations (search for similar items in EconPapers)
JEL-codes: C5 C6 C8 (search for similar items in EconPapers)
Pages: 344 pages
Date: 2026-03-19
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Persistent link: https://EconPapers.repec.org/RePEc:cpm:dynare:087

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