# STO5.yaml Model definition file for a two-country storage-trade model with supply reaction
# Copyright (C) 2011-2013 Christophe Gouel
# Licensed under the Expat license, see LICENSE.txt

declarations:

  states: [Aa, Ab]

  controls: [Sa, Sb, Ha, Hb, Pa, Pb, Xa, Xb]

  expectations: [EPa, EPb, EPea, EPeb]

  shocks: [ea, eb]

  parameters: [k, r, delta, h, mu, elastS, theta, elastD, taua, taub, gamma]

  
equations:

  arbitrage:

    .. Pa+k-EPa*(1-delta)/(1+r)       |    0 <= Sa <= inf
    .. Pb+k-EPb*(1-delta)/(1+r)       |    0 <= Sb <= inf
    .. EPea/(1+r) = h*Ha^mu           | -inf <= Ha <= inf
    .. EPeb/(1+r) = h*Hb^mu           | -inf <= Hb <= inf
    .. Aa+Xb = Pa^elastD+Sa+Xa        | -inf <= Pa <= inf
    .. Ab+Xa = gamma*Pb^elastD+Sb+Xb  | -inf <= Pb <= inf
    .. Pa-Pb+theta+taub               |    0 <= Xa <= inf
    .. Pb-Pa+theta+taua               |    0 <= Xb <= inf

  transition:

    .. Aa = (1-delta)*Sa(-1)+Ha(-1)*ea
    .. Ab = (1-delta)*Sb(-1)+Hb(-1)*eb

  expectation:

    .. EPa   = Pa(1)
    .. EPb   = Pb(1)
    .. EPea  = Pa(1)*ea(1)
    .. EPeb  = Pb(1)*eb(1)

    
calibration:

  parameters:

    k      :  0.06
    r      :  0.03
    delta  :  0.02
    elastS :  0.2
    h      : 1/(1+r)
    mu     : 1/elastS
    elastD : -0.2
    theta  :  0.1
    taua   :  0.06
    taub   :  0
    gamma  :  1.2
    
  steady_state:

    Aa  : 1
    Ab  : 1
    Sa  : 0
    Sb  : 0
    Ha  : 1
    Hb  : 1
    Pa  : 1
    Pb  : 1
    Xa  : 0
    Xb  : 0