GK Model with Altruism
======================

Replicates results from "Macroeconomic Policy Games" by Martin Bodenstein,
Luca Guerrieri, and Joe LaBriola, Journal of Monetary Economics, 2019.


PAPER OUTPUT REPLICATED
-----------------------
GKfigure3.m   figure 7


HOW TO RUN
----------
1. Run setup_toolbox once from the toolbox root if not already done.
2. Open MATLAB with this directory as the working directory.
3. Run setpathdynare6_5 (Dynare 6.5) or setpathdynare7_0 (Dynare 7.0).
4. Run GKfigure3.


SUPPORTING FILES
----------------
The base decentralized model is rbcb_monprud.mod.  The variant
rbcb_monprud_nobias.mod excludes the biases in the regulators' objectives
relative to the representative agent's utility.

All Nash and Ramsey .mod files in this directory were generated by the
toolbox from those two base files using convertmodfiles.

GKfigure3.m calls call_welfare_loop_distorted.m to loop over the welfare
calculations for the altruistic case.
