{ definitions { u[] = ( C[] ^ ( 1 - gamma ) - 1 ) / ( 1 - gamma ) ; }; controls { C[], K[] ; }; objective { U[] = u[] + beta * E[] [ U[1] ] ; }; constraints { C[] + K[] - ( 1 - delta ) * K[-1] = A[] * K[-1] ^ alpha : lambda[] ; }; identities { log ( A[] ) = rho * log ( A[-1] ) + epsilon[] ; }; shocks { epsilon[] ; }; calibration { alpha = 0.4 ; beta = 0.99 ; delta = 0.02 ; rho = 0.95 ; gamma = 1.5 ; }; };
