IRIS Toolbox Reference Manual

&

Reference to the steady-state level of a variable

Syntax

&VariableName
$VariableName
&VariableName{K}
$VariableName{K}

Description

Use either a & or $ sign in front of a variable name to create a reference to that variable's steady-state level in transition or measurement equations. The two signs, & and $, are interchangeable. Steady-state references may only be used in nonlinear models.

The steady-state reference can include a time shift (a lag or a lead), K. In that case, the steady-state value will be adjusted for steady-state growth backward or forward accordingly.

The steady-state reference will be replaced

Example

x = rho*x{-1} + (1-rho)*&x + epsilon_x !! x = 1;