wfcreate(wf=bancor) u 1 150 smpl 1 150 ' Variables for stationarity ' Government expenditure - growth rates series WI_CH = 0.01 series WI_EZ = 0.01 series WI_RW = 0.01 series WI_US = 0.01 ' Propensities in investment functions series Z0_CH = 0 series Z0_EZ = 0 series Z0_RW = 0 series Z0_US = 0 series Z1_CH = 0.2 series Z1_EZ = 0.2 series Z1_RW = 0.2 series Z1_US = 0.2 series Z2_CH = 0.1 series Z2_EZ = 0.1 series Z2_RW = 0.1 series Z2_US = 0.1 series Z3_CH = 0.05 series Z3_EZ = 0.05 series Z3_RW = 0.05 series Z3_US = 0.05 series z4_CH = 0. series z4_EZ = 0. series z4_RW = 0 series z4_US = 0. ' Interest rates 'series year=@trend series R_CH = 0.01 series R_EZ = 0.01 series R_RW = 0.01 series R_US = 0.01 ' Interest rate on deposits series RD_CH = 0.01 series RD_EZ = 0.01 series RD_RW = 0.01 series RD_US = 0.01 ' Interest rate on loans series RL_CH = 0.01 series RL_EZ = 0.01 series RL_RW = 0.01 series RL_US = 0.01 ' Interest rate on reserves series RS_CH = 0.01 series RS_EZ = 0.01 series RS_RW = 0.01 series RS_US = 0.01 ' starting values for exogenous ' Government expenditure - exogenous component series G0_CH = 0 series G0_EZ = 0 series G0_RW = 0 series G0_US = 0 ' Tax rates on income series OH_CH = 0.1 series OH_EZ = 0.1 series OH_RW = 0.1 series OH_US = 0.1 ' Wage share series SH_CH = 0.7 series SH_EZ = 0.7 series SH_RW = 0.7 series SH_US = 0.7 ' Tax rates on profits for %v ch ez rw us series OF_{%v} = 1-(1-(1-oh_{%v})*sh_{%v})/(3*(1-sh_{%v})) next ' Reserve ratios series Q_CH = 0.05 series Q_EZ = 0.05 series Q_RW = 0.05 series Q_US = 0.05 'Parameters ' Propensity to consume Series A1_CH = 0.8 series A1_EZ = 0.8 series A1_RW = 0.8 series A1_US = 0.8 series A2_CH = 0.05 series A2_EZ = 0.05 series A2_RW = 0.05 series A2_US = 0.05 ' Import elasticities series UM0_CH = -1 series UM0_EZ = -1 series UM0_RW = -1 series UM0_US = -1 series UM10_CH = 0.2 series UM10_EZ = 0.2 series UM10_RW = 0.2 series UM10_US = 0.2 series UM11_CH = 0.1 series UM11_EZ = 0.1 series UM11_RW = 0.1 series UM11_US = 0.1 series UM1_CH = 0.6 series UM1_EZ = 0.6 series UM1_RW = 0.6 series UM1_US = 0.6 series UM2_CH = 0.2 series UM2_EZ = 0.2 series UM2_RW = 0.2 series UM2_US = 0.2 series UM3_CH = 0.1 series UM3_EZ = 0.1 series UM3_RW = 0.1 series UM3_US = 0.1 series UM4_CH = -1 series UM4_EZ = -1 series UM4_RW = -1 series UM4_US = -1 series UM5_CH = 0.6 series UM5_EZ = 0.6 series UM5_RW = 0.6 series UM5_US = 0.6 series UM6_CH = 0.2 series UM6_EZ = 0.2 series UM6_RW = 0.2 series UM6_US = 0.2 series UM7_CH = 0.1 series UM7_EZ = 0.1 series UM7_RW = 0.1 series UM7_US = 0.1 series UM8_CH = -1 series UM8_EZ = -1 series UM8_RW = -1 series UM8_US = -1 series UM9_CH = 0.6 series UM9_EZ = 0.6 series UM9_RW = 0.6 series UM9_US = 0.6 ' Depreciation rate of capital stock series D_CH = 0.05 series D_EZ = 0.05 series D_RW = 0.05 series D_US = 0.05 ' Share of wealth kept as cash by households series C1_CH = 0.025 series C1_EZ = 0.025 series C1_RW = 0.025 series C1_US = 0.025 ' Portfolio equations of banks series G10_CH = 0.0765 series G10_EZ = 0.0765 series G10_RW = 0.0765 series G10_US = 0.0765 series G11_CH = -0.2 series G11_EZ = 0.6 series G11_RW = -0.2 series G11_US = -0.2 series G12_CH = 0.6 series G12_EZ = -0.2 series G12_RW = 0.6 series G12_US = 0.6 series G13_CH = -0.2 series G13_EZ = -0.2 series G13_RW = -0.2 series G13_US = -0.2 series G14_CH = -0.2 series G14_EZ = -0.2 series G14_RW = -0.2 series G14_US = -0.2 series G20_CH = 0.0765 series G20_EZ = 0.0765 series G20_RW = 0.0765 series G20_US = 0.0765 series G21_CH = 0.6 series G21_EZ = -0.2 series G21_RW = 0.6 series G21_US = -0.2 series G22_CH = -0.2 series G22_EZ = -0.2 series G22_RW = -0.2 series G22_US = -0.2 series G23_CH = -0.2 series G23_EZ = 0.6 series G23_RW = -0.2 series G23_US = 0.6 series G24_CH = -0.2 series G24_EZ = -0.2 series G24_RW = -0.2 series G24_US = -0.2 series G30_CH = 0.0765 series G30_EZ = 0.0765 series G30_RW = 0.0765 series G30_US = 0.0765 series G31_CH = -0.2 series G31_EZ = -0.2 series G31_RW = -0.2 series G31_US = -0.2 series G32_CH = -0.2 series G32_EZ = -0.2 series G32_RW = -0.2 series G32_US = -0.2 series G33_CH = -0.2 series G33_EZ = -0.2 series G33_RW = 0.6 series G33_US = -0.2 series G34_CH = 0.6 series G34_EZ = 0.6 series G34_RW = -0.2 series G34_US = 0.6 ' Starting values ' Investment series I_CH = 2.5 series I_EZ = 2.5 series I_RW = 2.5 series I_US = 2.5 ' Government expenditure series G_CH = 5 series G_EZ = 5 series G_RW = 5 series G_US = 5 ' GDP for %v ch ez rw us series Y_{%v} = (i_{%v}+g_{%v})/(1-(1-oh_{%v})*sh_{%v}) next ' Disposable income for %v ch ez rw us series YDV_{%v} = Y_{%v}*(1-oh_{%v})*sh_{%v} next ' Wealth of households for %v ch ez rw us series VH_{%v} = YDV_{%v}*(1-a1_{%v})/a2_{%v} next ' Wage bill for %v ch ez rw us series W_{%v} = Y_{%v}*sh_{%v} next ' Profits for %v ch ez rw us series P_{%v} = Y_{%v}-W_{%v} next ' Demand for cash for %v ch ez rw us series HD_H_{%v} = VH_{%v}*c1_{%v} next ' Stock of deposits for %v ch ez rw us series MD_H_{%v} = VH_{%v}-HD_H_{%v} next ' Stock of reserves for %v ch ez rw us series RESD_{%v} = Q_{%v}*MD_H_{%v} next ' Stock of capital for %v ch ez rw us series K_{%v} = 50 next ' Stock of loans for %v ch ez rw us series LD_{%v} = 41 next ' Wealth of firms for %v ch ez rw us series VF_{%v} = K_{%v}-LD_{%v} next ' Advances from Central bank for %v ch ez rw us series A_{%v} = 41 next ' Wealth of Central bank for %v ch ez rw us series vcb_{%v} = 37.23277027027028 next ' Stock of public debt outstanding for %v ch ez rw us series bs_{%v} = 47.3139 next ' Foreign bills held at Central banks series BD_CB_CH_EZ = 0 series BD_CB_CH_RW = 0 series BD_CB_CH_US = 0 series BD_CB_EZ_CH = 0 series BD_CB_EZ_RW = 0 series BD_CB_EZ_US = 0 series BD_CB_RW_CH = 0 series BD_CB_RW_EZ = 0 series BD_CB_RW_US = 0 series BD_CB_US_CH = 0 series BD_CB_US_EZ = 0 series BD_CB_US_RW = 0 ' Capital output ratios series V_CH = 2.5 series V_EZ = 2.5 series V_RW = 2.5 series V_US = 2.5 ' starting values for endogenous ' Demand for bills series BD_B_CH_CH = bs_ch series BD_B_CH_EZ = 0 series BD_B_CH_RW = 0 series BD_B_CH_US = 0 series BD_B_EZ_CH = 0 series BD_B_EZ_EZ = bs_ez series BD_B_EZ_RW = 0 series BD_B_EZ_US = 0 series BD_B_RW_CH = 0 series BD_B_RW_EZ = 0 series BD_B_RW_RW = bs_rw series BD_B_RW_US = 0 series BD_B_US_CH = 0 series BD_B_US_EZ = 0 series BD_B_US_RW = 0 series BD_B_US_US = bs_us series BD_CB_CH_CH = 0 series BD_CB_EZ_EZ = 0 series BD_CB_RW_RW = 0 series BD_CB_US_US = 0 series BS_CH_B_CH = bs_ch series BS_CH_B_EZ = 0 series BS_CH_B_RW = 0 series BS_CH_B_US = 0 series BS_CH_CB_CH = 0 series BS_CH_CB_EZ = 0 series BS_CH_CB_RW = 0 series BS_CH_CB_US = 0 series BS_EZ_B_CH = 0 series BS_EZ_B_EZ = bs_ez series BS_EZ_B_RW = 0 series BS_EZ_B_US = 0 series BS_EZ_CB_CH = 0 series BS_EZ_CB_EZ = 0 series BS_EZ_CB_RW = 0 series BS_EZ_CB_US = 0 series BS_RW_B_CH = 0 series BS_RW_B_EZ = 0 series BS_RW_B_RW = bs_rw series BS_RW_B_US = 0 series BS_RW_CB_CH = 0 series BS_RW_CB_EZ = 0 series BS_RW_CB_RW = 0 series BS_RW_CB_US = 0 series BS_US_B_CH = 0 series BS_US_B_EZ = 0 series BS_US_B_RW =0 series BS_US_B_US = bs_us series BS_US_CB_CH = 0 series BS_US_CB_EZ = 0 series BS_US_CB_RW = 0 series BS_US_CB_US = 0 ' Consumption series C_CH = 10 series C_EZ = 10 series C_RW = 10 series C_US = 10 ' Exchange rates series E1 = 1 series E2 = 1 series E3 = 1 series E4 = 1 series E5 = 1 series E6 = 1 series E7 = 1 series E8 = 1 series E9 = 1 series E10 = 1 ' Imports series IM_CH = 6.7134 series IM_CH_EZ = 2.237799839 series IM_CH_RW = 2.237799839 series IM_CH_US = 2.237799839 series IM_EZ = 6.7134 series IM_EZ_CH = 2.237799839 series IM_EZ_RW = 2.237799839 series IM_EZ_US = 2.237799839 series IM_RW = 6.7134 series IM_RW_CH = 2.237799839 series IM_RW_EZ = 2.237799839 series IM_RW_US = 2.237799839 series IM_US = 6.7134 series IM_US_CH = 2.237799839 series IM_US_EZ = 2.237799839 series IM_US_RW = 2.237799839 ' Interest paid by firms series INTF_CH = 0 series INTF_EZ = 0 series INTF_RW = 0 series INTF_US = 0 ' Total tax revenues series T_CH = 3 series T_EZ = 3 series T_RW = 3 series T_US = 3 ' Taxes on profits series TF_CH = 2 series TF_EZ = 2 series TF_RW = 2 series TF_US = 2 ' Taxes on households series TH_CH = 1 series TH_EZ = 1 series TH_RW = 1 series TH_US = 1 ' Capacity utilization series U_CH = 1 series U_EZ = 1 series U_RW = 1 series U_US = 1 ' Wealth of commercial banks series VB_CH = 0 series VB_EZ = 0 series VB_RW = 0 series VB_US = 0 ' Exports series X_CH = 6.7134 series X_CH_EZ = 2.237799839 series X_CH_RW = 2.237799839 series X_CH_US = 2.237799839 series X_EZ = 6.7134 series X_EZ_CH = 2.237799839 series X_EZ_RW = 2.237799839 series X_EZ_US = 2.237799839 series X_RW = 6.7134 series X_RW_CH = 2.237799839 series X_RW_EZ = 2.237799839 series X_RW_US = 2.237799839 series X_US = 6.7134 series X_US_CH = 2.237799839 series X_US_EZ = 2.237799839 series X_US_RW = 2.237799839 ' Net profits of firms series pn_us = p_us - tf_us - intf_us series pn_ch = p_ch - tf_ch - intf_ch series pn_ez = p_ez - tf_ez - intf_ez series pn_rw = p_rw - tf_rw - intf_rw ' Bank profits series pb_us = 0 series pb_ez = 0 series pb_ch = 0 series pb_rw = 0 ' Profits of central banks series pcb_ez = 0 series pcb_us = 0 series pcb_ch = 0 series pcb_rw = 0 ' Government deficits series defg_ez = G_EZ - T_EZ + Bs_EZ(-1) * r_EZ(-1) - Pcb_EZ series defg_us = G_US - T_US + Bs_US(-1) * r_US(-1) - Pcb_US series defg_ch = G_CH - T_CH + Bs_CH(-1) * r_CH(-1) - Pcb_CH series defg_rw = G_RW - T_RW + Bs_RW(-1) * r_RW(-1) - Pcb_RW 'Bancor series bancorS_ch=0 series bancorS_ez=0 series bancorS_us=0 series bancorS_rw=0 series bancor_ch=0 series bancor_ez=0 series bancor_us=0 series bancor_rw=0 series rb = 0.06 series defca_ch=0 series defca_us=0 series defca_ez=0 series defca_rw=0 series aidr_ez_us=0 series aidr_ez_ch=0 series aidr_ez_rw=0 series aidr_us_ez=0 series aidr_us_ch=0 series aidr_us_rw=0 series aidr_ch_us=0 series aidr_ch_ez=0 series aidr_ch_rw=0 series aidr_rw_us=0 series aidr_rw_ez=0 series aidr_rw_ch=0 series aids_ch=0 series aids_us=0 series aids_ez=0 series aids_rw=0 Model model1 'Equation 1 model1.append Y_EZ = C_EZ + I_EZ + G_EZ + X_EZ - IM_EZ 'Equation 2 model1.append Y_US = C_US + I_US + G_US + X_US - IM_US 'Equation 3 model1.append Y_CH = C_CH + I_CH + G_CH + X_CH - IM_CH 'Equation 4 model1.append Y_RW = C_RW + I_RW + G_RW + X_RW - IM_RW 'Equation 5 model1.append G_EZ = G0_EZ + ( 1 + wi_EZ) * G_EZ(-1) + IMG_EZ 'Equation 6 model1.append G_US = G0_US + ( 1 + wi_US) * G_US(-1) + IMG_US 'Equation 7 model1.append G_CH = G0_CH + ( 1 + wi_CH) * G_CH(-1) + IMG_CH 'Equation 8 model1.append G_RW = G0_RW + ( 1 + wi_RW) * G_RW(-1) + IMG_RW 'Equation 9 model1.append log(IM_US_EZ) = um0_US + um1_US * log(Y_US) + um2_US * log(E1) + um3_US * log((1 / E2) * (1 / E4)) 'Equation 10 model1.append log(IM_US_CH) = um4_US + um5_US * log(Y_US) + um6_US * log(E2) + um7_US * log((1 / E1) * (1 / E4)) 'Equation 11 model1.append log(IM_US_RW) = um8_US + um9_US * log(Y_US) + um10_US * log(E4) + um11_US * log((1 / E1) * (1 / E2)) 'Equation 12 model1.append log(IM_EZ_US) = um0_EZ + um1_EZ * log(Y_EZ) + um2_EZ * log(1 / E1) + um3_EZ * log((1 / E3) * (1 / E6)) 'Equation 13 model1.append log(IM_EZ_CH) = um4_EZ + um5_EZ * log(Y_EZ) + um6_EZ * log(E3) + um7_EZ * log((E1) * (1 / E6)) 'Equation 14 model1.append log(IM_EZ_RW) = um8_EZ + um9_EZ * log(Y_EZ) + um10_EZ * log(E6) + um11_EZ * log((E1) * (1 / E3)) 'Equation 15 model1.append log(IM_CH_EZ) = um4_CH + um5_CH * log(Y_CH) + um6_CH * log(1 / E3) + um7_CH * log((E2) * (E5)) 'Equation 16 model1.append log(IM_CH_US) = um0_CH + um1_CH * log(Y_CH) + um2_CH * log(1 / E2) + um3_CH * log((E3) * (E5)) 'Equation 17 model1.append log(IM_CH_RW) = um8_CH + um9_CH * log(Y_CH) + um10_CH * log(1 / E5) + um11_CH * log(( E2) * (E3)) 'Equation 18 model1.append log(IM_RW_EZ) = um4_RW + um5_RW * log(Y_RW) + um6_RW * log(1 / E6) + um7_RW * log((E4) * (1 / E5)) 'Equation 19 model1.append log(IM_RW_US) = um0_RW + um1_RW * log(Y_RW) + um2_RW * log(1 / E4) + um3_RW * log((E6) * (1 / E5)) 'Equation 20 model1.append log(IM_RW_CH) = um8_RW + um9_RW * log(Y_RW) + um10_RW * log(E5) + um11_RW * log((E6) * (E4)) 'Equation 21 model1.append IM_EZ = IM_EZ_US + IM_EZ_CH + IM_EZ_RW 'Equation 22 model1.append IM_US = IM_US_EZ + IM_US_CH + IM_US_RW 'Equation 23 model1.append IM_CH = IM_CH_EZ + IM_CH_US + IM_CH_RW 'Equation 24 model1.append IM_RW = IM_RW_EZ + IM_RW_US + IM_RW_CH 'Equation 25 model1.append X_US_EZ = IM_EZ_US / E1 'Equation 26 model1.append X_US_CH = IM_CH_US / E2 'Equation 27 model1.append X_US_RW = IM_RW_US / E4 'Equation 28 model1.append X_EZ_US = IM_US_EZ * E1 'Equation 29 model1.append X_EZ_CH = IM_CH_EZ / E3 'Equation 30 model1.append X_EZ_RW = IM_RW_EZ / E6 'Equation 31 model1.append X_CH_US = IM_US_CH * E2 'Equation 32 model1.append X_CH_EZ = IM_EZ_CH * E3 'Equation 33 model1.append X_CH_RW = IM_RW_CH * E5 'Equation 34 model1.append X_RW_EZ = IM_EZ_RW * E6 'Equation 35 model1.append X_RW_US = IM_US_RW * E4 'Equation 36 model1.append X_RW_CH = IM_CH_RW / E5 'Equation 37 model1.append X_US = X_US_EZ + X_US_CH + X_US_RW 'Equation 38 model1.append X_EZ = X_EZ_US + X_EZ_CH + X_EZ_RW 'Equation 39 model1.append X_CH = X_CH_EZ + X_CH_US + X_CH_RW 'Equation 40 model1.append X_RW = X_RW_EZ + X_RW_US + X_RW_CH 'Equation 41 model1.append W_EZ = sh_EZ * Y_EZ 'Equation 42 model1.append W_US = sh_US * Y_US 'Equation 43 model1.append W_CH = sh_CH * Y_CH 'Equation 44 model1.append W_RW = sh_RW * Y_RW 'Equation 45 model1.append Th_EZ = oh_EZ * (W_EZ + rd_EZ(-1) * Md_h_EZ(-1) + pb_ez) 'Equation 46 model1.append Th_US = oh_US * (W_US + rd_US(-1) * Md_h_US(-1) + pb_us ) 'Equation 47 model1.append Th_CH = oh_CH * (W_CH + rd_CH(-1) * Md_h_CH(-1) + pb_ch ) 'Equation 48 model1.append Th_RW = oh_RW * (W_RW + rd_RW(-1) * Md_h_RW(-1) + pb_rw ) 'Equation 49 model1.append YDV_EZ = W_EZ + rd_EZ(-1) * Md_h_EZ(-1) + pb_ez - Th_EZ 'Equation 50 model1.append YDV_US = W_US + rd_US(-1) * Md_h_US(-1) + pb_us - Th_US 'Equation 51 model1.append YDV_CH = W_CH + rd_CH(-1) * Md_h_CH(-1) + pb_ch - Th_CH 'Equation 52 model1.append YDV_RW = W_RW + rd_RW(-1) * Md_h_RW(-1) + pb_rw - Th_RW 'Equation 53 model1.append C_EZ = a1_EZ * YDV_EZ + a2_EZ * Vh_EZ(-1) 'Equation 54 model1.append C_US = a1_US * YDV_US + a2_US * Vh_US(-1) 'Equation 55 model1.append C_CH = a1_CH * YDV_CH + a2_CH * Vh_CH(-1) 'Equation 56 model1.append C_RW = a1_RW * YDV_RW + a2_RW * Vh_RW(-1) 'Equation 57 model1.append d(Vh_EZ) = YDV_EZ - C_EZ 'Equation 58 model1.append d(Vh_US) = YDV_US - C_US 'Equation 59 model1.append d(Vh_CH) = YDV_CH - C_CH 'Equation 60 model1.append d(Vh_RW) = YDV_RW - C_RW 'Equation 61 model1.append Hd_h_EZ = c1_EZ * Vh_EZ 'Equation 62 model1.append Hd_h_US = c1_US * Vh_US 'Equation 63 model1.append Hd_h_CH = c1_CH * Vh_CH 'Equation 64 model1.append Hd_h_RW = c1_RW * Vh_RW 'Equation 65 model1.append Md_h_EZ = (Vh_EZ - Hd_h_EZ) 'Equation 66 model1.append Md_h_US = (Vh_US - Hd_h_US) 'Equation 67 model1.append Md_h_CH = (Vh_CH - Hd_h_CH) 'Equation 68 model1.append Md_h_RW = (Vh_RW - Hd_h_RW) 'Equation 69 model1.append P_EZ = Y_EZ - W_EZ 'Equation 70 model1.append P_US = Y_US - W_US 'Equation 71 model1.append P_CH = Y_CH - W_CH 'Equation 72 model1.append P_RW = Y_RW - W_RW 'Equation 73 model1.append Intf_EZ = rl_EZ(-1) * Ld_EZ(-1) 'Equation 74 model1.append Intf_US = rl_US(-1) * Ld_US(-1) 'Equation 75 model1.append Intf_CH = rl_CH(-1) * Ld_CH(-1) 'Equation 76 model1.append Intf_RW = rl_RW(-1) * Ld_RW(-1) 'Equation 77 model1.append Tf_EZ = of_EZ * (P_EZ - Intf_EZ) 'Equation 78 model1.append Tf_US = of_US * (P_US - Intf_US) 'Equation 79 model1.append Tf_CH = of_CH * (P_CH - Intf_CH) 'Equation 80 model1.append Tf_RW = of_RW * (P_RW - Intf_RW) 'Equation 81 model1.append pn_us = p_us - tf_us - intf_us 'Equation 82 model1.append pn_ch = p_ch - tf_ch - intf_ch 'Equation 83 model1.append pn_ez = p_ez - tf_ez - intf_ez 'Equation 84 model1.append pn_rw = p_rw - tf_rw - intf_rw 'Equation 85 model1.append (I_EZ / K_EZ(-1)) = z0_EZ + z1_EZ * (Pn_EZ / K_EZ(-1)) - z2_EZ * ((rl_EZ * Ld_EZ) / K_EZ(-1)) + z3_EZ * u_EZ 'Equation 86 model1.append (I_US / K_US(-1)) = z0_US + z1_US * (Pn_US / K_US(-1)) - z2_US * ((rl_US * Ld_US) / K_US(-1)) + z3_US * u_US 'Equation 87 model1.append (I_CH / K_CH(-1)) = z0_CH + z1_CH * (Pn_CH / K_CH(-1)) - z2_CH * ((rl_CH * Ld_CH) / K_CH(-1)) + z3_CH * u_CH 'Equation 88 model1.append (I_RW / K_RW(-1)) = z0_RW + z1_RW * (Pn_RW / K_RW(-1)) - z2_RW * ((rl_RW * Ld_RW) / K_RW(-1)) + z3_RW * u_RW 'Equation 89 model1.append u_EZ = (Y_EZ / K_EZ ) * v_EZ 'Equation 90 model1.append u_US = (Y_US / K_US ) * v_US 'Equation 91 model1.append u_CH = (Y_CH / K_CH ) * v_CH 'Equation 92 model1.append u_RW = (Y_RW / K_RW ) * v_RW 'Equation 93 model1.append K_EZ = (1 - d_EZ) * K_EZ(-1) + I_EZ 'Equation 94 model1.append K_US = (1 - d_US) * K_US(-1) + I_US 'Equation 95 model1.append K_CH = (1 - d_CH) * K_CH(-1) + I_CH 'Equation 96 model1.append K_RW = (1 - d_RW) * K_RW(-1) + I_RW 'Equation 97 model1.append d(Ld_EZ) = I_EZ - (P_EZ - Intf_EZ - Tf_EZ) 'Equation 98 model1.append d(Ld_US) = I_US - (P_US - Intf_US - Tf_US) 'Equation 99 model1.append d(Ld_CH) = I_CH - (P_CH - Intf_CH - Tf_CH) 'Equation 100 model1.append d(Ld_RW) = I_RW - (P_RW - Intf_RW - Tf_RW) 'Equation 101 model1.append Vf_EZ = K_EZ - Ld_EZ 'Equation 102 model1.append Vf_US = K_US - Ld_US 'Equation 103 model1.append Vf_CH = K_CH - Ld_CH 'Equation 104 model1.append Vf_RW = K_RW - Ld_RW 'Equation 105 model1.append T_EZ = Th_EZ + Tf_EZ 'Equation 106 model1.append T_US = Th_US + Tf_US 'Equation 107 model1.append T_CH = Th_CH + Tf_CH 'Equation 108 model1.append T_RW = Th_RW + Tf_RW 'Equation 109 model1.append d(Bs_EZ) = G_EZ - T_EZ + Bs_EZ(-1) * r_EZ(-1) - Pcb_EZ 'Equation 110 model1.append d(Bs_US) = G_US - T_US + Bs_US(-1) * r_US(-1) - Pcb_US 'Equation 111 model1.append d(Bs_CH) = G_CH - T_CH + Bs_CH(-1) * r_CH(-1) - Pcb_CH 'Equation 112 model1.append d(Bs_RW) = G_RW - T_RW + Bs_RW(-1) * r_RW(-1) - Pcb_RW 'Equation 113 model1.append Bd_b_EZ_US = 0 'Equation 114 model1.append Bd_b_EZ_CH = 0 'Equation 115 model1.append Bd_b_EZ_RW = 0 'Equation 116 model1.append Bd_b_EZ_EZ = ((1 - q_EZ) * Md_h_EZ ) 'Equation 117 model1.append Bd_b_US_EZ = 0 'Equation 118 model1.append Bd_b_US_CH = 0 'Equation 119 model1.append Bd_b_US_RW = 0 'Equation 120 model1.append Bd_b_US_US = ((1 - q_US) * Md_h_US ) 'Equation 121 model1.append Bd_b_CH_EZ = 0 'Equation 122 model1.append Bd_b_CH_US = 0 'Equation 123 model1.append Bd_b_CH_RW = 0 'Equation 124 model1.append Bd_b_CH_CH = ((1 - q_CH) * Md_h_CH ) 'Equation 125 model1.append Bd_b_RW_EZ = 0 'Equation 126 model1.append Bd_b_RW_US = 0 'Equation 127 model1.append Bd_b_RW_CH = 0 'Equation 128 model1.append Bd_b_RW_RW = ((1 - q_RW) * Md_h_RW ) 'Equation 129 model1.append Bs_EZ_b_EZ = Bd_b_EZ_EZ 'Equation 130 model1.append Bs_US_b_EZ = Bd_b_EZ_US / E1 'Equation 131 model1.append Bs_CH_b_EZ = Bd_b_EZ_CH * E3 'Equation 132 model1.append Bs_RW_b_EZ = Bd_b_EZ_RW * E6 'Equation 133 model1.append Bs_US_b_US = Bd_b_US_US 'Equation 134 model1.append Bs_EZ_b_US = Bd_b_US_EZ * E1 'Equation 135 model1.append Bs_CH_b_US = Bd_b_US_CH * E2 'Equation 136 model1.append Bs_RW_b_US = Bd_b_US_RW * E4 'Equation 137 model1.append Bs_CH_b_CH = Bd_b_CH_CH 'Equation 138 model1.append Bs_EZ_b_CH = Bd_b_CH_EZ / E3 'Equation 139 model1.append Bs_US_b_CH = Bd_b_CH_US / E2 'Equation 140 model1.append Bs_RW_b_CH = Bd_b_CH_RW / E5 'Equation 141 model1.append Bs_RW_b_RW = Bd_b_RW_RW 'Equation 142 model1.append Bs_EZ_b_RW = Bd_b_RW_EZ / E6 'Equation 143 model1.append Bs_US_b_RW = Bd_b_RW_US / E4 'Equation 144 model1.append Bs_CH_b_RW = Bd_b_RW_CH * E5 'Equation 145 model1.append Pb_US = r_US(-1) * Bd_b_US_US(-1) + r_EZ(-1) * Bs_EZ_b_US(-1) / E1 + r_CH(-1) * Bs_CH_b_US(-1) / E2 + r_RW(-1) * Bs_RW_b_US(-1) / E4 + Bs_EZ_b_US(-1) * d(1 / E1) + Bs_CH_b_US(-1) * d(1 / E2) + Bs_RW_b_US(-1) * d(1 / E4) + rs_US(-1) * Resd_US(-1) + rl_US(-1) * Ld_US(-1) - rd_US(-1) * Md_h_US(-1) - r_US(-1) * A_US(-1) 'Equation 146 model1.append Pb_EZ = r_EZ(-1) * Bd_b_EZ_EZ(-1) + r_US(-1) * Bs_US_b_EZ(-1) * E1 + r_CH(-1) * Bs_CH_b_EZ(-1) / E3 + r_RW(-1) * Bs_RW_b_EZ(-1) / E6 + Bs_US_b_EZ(-1) * d(E1) + Bs_CH_b_EZ(-1) * d(1 / E3) + Bs_RW_b_EZ(-1) * d(1 / E6) + rs_EZ(-1) * Resd_EZ(-1) + rl_EZ(-1) * Ld_EZ(-1) - rd_EZ(-1) * Md_h_EZ(-1) - r_EZ(-1) * A_EZ(-1) 'Equation 147 model1.append Pb_CH = r_CH(-1) * Bd_b_CH_CH(-1) + r_EZ(-1) * Bs_EZ_b_CH(-1) * E3 + r_US(-1) * Bs_US_b_CH(-1) * E2 + r_RW(-1) * Bs_RW_b_CH(-1) * E5 + Bs_EZ_b_CH(-1) * d(E3) + Bs_US_b_CH(-1) * d(E2) + Bs_RW_b_CH(-1) * d(E5) + rs_CH(-1) * Resd_CH(-1) + rl_CH(-1) * Ld_CH(-1) - rd_CH(-1) * Md_h_CH(-1) - r_CH(-1) * A_CH(-1) 'Equation 148 model1.append Pb_RW = r_RW(-1) * Bd_b_RW_RW(-1) + r_EZ(-1) * Bs_EZ_b_RW(-1) * E6 + r_US(-1) * Bs_US_b_RW(-1) * E4 + r_CH(-1) * Bs_CH_b_RW(-1) / E5 + Bs_EZ_b_RW(-1) * d(E6) + Bs_US_b_RW(-1) * d(E4) + Bs_CH_b_RW(-1) * d(1 / E5) + rs_RW(-1) * Resd_RW(-1) + rl_RW(-1) * Ld_RW(-1) - rd_RW(-1) * Md_h_RW(-1) - r_RW(-1) * A_RW(-1) 'Equation 149 model1.append A_EZ = Bd_b_EZ_EZ + Bd_b_EZ_US + Bd_b_EZ_CH + Bd_b_EZ_RW + Ld_EZ + Resd_EZ - Md_h_EZ - Vb_EZ 'Equation 150 model1.append A_US = Bd_b_US_US + Bd_b_US_EZ + Bd_b_US_CH + Bd_b_US_RW + Ld_US + Resd_US - Md_h_US - Vb_US 'Equation 151 model1.append A_CH = Bd_b_CH_CH + Bd_b_CH_US + Bd_b_CH_EZ + Bd_b_CH_RW + Ld_CH + Resd_CH - Md_h_CH - Vb_CH 'Equation 152 model1.append A_RW = Bd_b_RW_RW + Bd_b_RW_US + Bd_b_RW_EZ + Bd_b_RW_CH + Ld_RW + Resd_RW - Md_h_RW - Vb_RW 'Equation 153 model1.append d(Vb_EZ) = 0 'Equation 154 model1.append d(Vb_US) = 0 'Equation 155 model1.append d(Vb_CH) = 0 'Equation 156 model1.append d(Vb_RW) = 0 'Equation 157 (redundant equation) 'model1.append check1 = d(Resd_US) + d(Hd_h_US) - d(A_US) - d(Bd_cb_US_US) 'Equation 158 model1.append Bd_cb_EZ_EZ = Bs_EZ - Bd_b_EZ_EZ 'Equation 159 model1.append Bs_US_cb_CH = 0 'Equation 160 model1.append Bs_US_cb_RW = 0 'Equation 161 model1.append Bs_US_cb_US = Bd_cb_US_US 'Equation 162 model1.append Bs_EZ_cb_EZ = Bd_cb_EZ_EZ 'Equation 163 model1.append d(Bd_cb_CH_US) = Bs_US_cb_CH(-1)*d(E2) + d(Bs_US_cb_CH)*E2 'Equation 164 model1.append d(Bd_cb_RW_US) = Bs_US_cb_RW(-1)*d(E4) + d(Bs_US_cb_RW)*E4 'Equation 165 model1.append E1=E8/E7 'Equation 166 model1.append E2=E9/E7 'Equation 167 model1.append Bd_cb_CH_CH=Bs_CH-Bd_b_CH_CH-Bs_CH_b_EZ-Bs_CH_b_RW-Bs_CH_b_US 'Equation 168 model1.append Bs_CH_cb_CH = Bd_cb_CH_CH 'Equation 169 model1.append E4=E10/E7 'Equation 170 model1.append Bd_cb_RW_RW = Bs_RW - Bs_RW_b_RW - Bs_RW_b_EZ - Bs_RW_b_CH - Bs_RW_b_US 'Equation 171 model1.append Bs_RW_cb_RW = Bd_cb_RW_RW 'Equation 172 model1.append Bd_cb_US_US= Bs_US - Bd_b_US_US - Bs_US_b_EZ - Bs_US_b_CH - Bs_US_b_RW 'Equation 173 model1.append E3=E9/E8 'Equation 174 model1.append E5=E10/E9 'Equation 175 model1.append E6=E10/E8 'Equation 176 model1.append Resd_EZ = q_EZ * Md_h_EZ 'Equation 177 model1.append Resd_US = q_US * Md_h_US 'Equation 178 model1.append Resd_CH = q_CH * Md_h_CH 'Equation 179 model1.append Resd_RW = q_RW * Md_h_RW 'Equation 180 model1.append Pcb_US = r_US(-1) * Bs_US_cb_US(-1) - rs_US(-1) * Resd_US(-1) + r_US(-1) * A_US(-1) 'Equation 181 model1.append Pcb_EZ = r_EZ(-1) * Bs_EZ_cb_EZ(-1) + r_US(-1) * Bs_US_cb_EZ(-1) * E1 - rs_EZ(-1) * Resd_EZ(-1) + r_EZ(-1) * A_EZ(-1) 'Equation 182 model1.append Pcb_CH = r_CH(-1) * Bs_CH_cb_CH(-1) + r_US(-1) * Bs_US_cb_CH(-1) * E2 - rs_CH(-1) * Resd_CH(-1) + r_CH(-1) * A_CH(-1) 'Equation 183 model1.append Pcb_RW = r_RW(-1) * Bs_RW_cb_RW(-1) + r_US(-1) * Bs_US_cb_RW(-1) * E4 - rs_RW(-1) * Resd_RW(-1) + r_RW(-1) * A_RW(-1) 'Equation 184 model1.append rl_EZ = r_EZ 'Equation 185 model1.append rd_EZ = r_EZ 'Equation 186 model1.append rq_EZ = r_EZ 'Equation 187 model1.append rs_EZ = r_EZ 'Equation 188 model1.append rl_US = r_US 'Equation 189 model1.append rd_US = r_US 'Equation 190 model1.append rq_US = r_US 'Equation 191 model1.append rs_US = r_US 'Equation 192 model1.append rl_CH = r_CH 'Equation 193 model1.append rd_CH = r_CH 'Equation 194 model1.append rq_CH = r_CH 'Equation 195 model1.append rs_CH = r_CH 'Equation 196 model1.append rl_RW = r_RW 'Equation 197 model1.append rd_RW = r_RW 'Equation 198 model1.append rq_RW = r_RW 'Equation 199 model1.append rs_RW = r_RW 'Equation 200 model1.append E7 = 1 'Equation 201 model1.append E8 = 1 'Equation 202 model1.append E9 = 1 'Equation 203 model1.append E10 = 1 'Equation 204 model1.append d(BancorS_US) = (d(Resd_US) + d(Hd_h_US) - d(A_US) - d(Bd_cb_US_US) - abs(rb(-1) * Bancor_US(-1)) + Aidr_US_ICU) / E7 'Equation 205 model1.append d(BancorS_EZ) = (d(Resd_EZ) + d(Hd_h_EZ) - d(A_EZ) - d(Bd_cb_EZ_EZ) - abs(rb(-1) * Bancor_EZ(-1)) + Aidr_EZ_ICU) / E8 'Equation 206 model1.append d(BancorS_CH) = (d(Resd_CH) + d(Hd_h_CH) - d(A_CH) - d(Bd_cb_CH_CH) - abs(rb(-1) * Bancor_CH(-1)) + Aidr_CH_ICU) / E9 'Equation 207 model1.append d(BancorS_RW) = (d(Resd_RW) + d(Hd_h_RW) - d(A_RW) - d(Bd_cb_RW_RW) - abs(rb(-1) * Bancor_RW(-1)) + Aidr_RW_ICU) / E10 'Equation 208 model1.append d(Bancor_US) = d(BancorS_US) * E7 + BancorS_US(-1) * d(E7) 'Equation 209 model1.append d(Bancor_EZ) = d(BancorS_EZ) * E8 + BancorS_EZ(-1) * d(E8) 'Equation 210 model1.append d(Bancor_CH) = d(BancorS_CH) * E9 + BancorS_CH(-1) * d(E9) 'Equation 211 model1.append d(Bancor_RW) = d(BancorS_RW) * E10 + BancorS_RW(-1) * d(E10) 'Equation 212 model1.append check1 = d(BancorS_US) + d(BancorS_EZ) + d(BancorS_CH) + d(BancorS_RW) 'Equation 213 model1.append P_ICU = abs(rb(-1) * BancorS_US(-1)) + abs(rb(-1) * BancorS_EZ(-1)) + abs(rb(-1) * BancorS_CH(-1)) + abs(rb(-1) * BancorS_RW(-1)) 'Equation 214 model1.append Y_World=Y_US + Y_EZ/E1+Y_CH/E2+Y_RW/E4 'Equation 215 model1.append AidS_ICU = P_ICU / z200 'model1.append z100_us = 1*(Y_US<=(Y_World/4))+0*(Y_US>(Y_World/4)) 'model1.append z100_ez = 1*(Y_EZ/E1<=(Y_World/4))+0*(Y_EZ/E1>(Y_World/4)) 'model1.append z100_CH = 1*(Y_CH/E2<=(Y_World/4))+0*(Y_CH/E2>(Y_World/4)) 'model1.append z100_rw = 1*(Y_RW/E4<=(Y_World/4))+0*(Y_RW/E4>(Y_World/4)) model1.append z200 = z100_us + z100_ez + z100_ch + z100_rw model1.append z100_us = 1*(BancorS_us=<0.1)+0*(BancorS_US>0.1) model1.append z100_ez = 1*(BancorS_ez=<0.1)+0*(BancorS_ez>0.1) model1.append z100_ch = 1*(BancorS_ch=<0.1)+0*(BancorS_ch>0.1) model1.append z100_rw = 1*(BancorS_rw=<0.1)+0*(BancorS_rw>0.1) 'Equation 216 model1.append AidS_ICU_US = AidS_ICU*(z100_us=1)+0*(z100_us=0) 'Equation 217 model1.append AidS_ICU_EZ = AidS_ICU*(z100_ez=1)+0*(z100_ez=0) 'Equation 218 model1.append AidS_ICU_CH = AidS_ICU*(z100_ch=1)+0*(z100_ch=0) 'Equation 219 model1.append AidS_ICU_RW = AidS_ICU*(z100_rw=1)+0*(z100_rw=0) 'Equation 220 model1.append Aidr_US_ICU = AidS_ICU_US * E7 'Equation 221 model1.append Aidr_EZ_ICU = AidS_ICU_EZ * E8 'Equation 222 model1.append Aidr_CH_ICU = AidS_ICU_CH * E9 'Equation 223 model1.append Aidr_RW_ICU = AidS_ICU_RW * E10 'Equation 224 model1.append IMG_EZ = (0.5*(rb * Bancor_EZ(-1)))*((BancorS_EZ(-1)>0.05)+(defCA_EZ(-1)>0)) +0*((BancorS_EZ(-1)=<0.05)+(defCA_EZ(-1)=<0)) 'Equation 225 model1.append IMG_US = (0.5*(rb * Bancor_US(-1)))*((BancorS_US(-1)>0.05)+(defCA_US(-1)>0)) +0*((BancorS_US(-1)=<0.05)+(defCA_US(-1)=<0)) 'Equation 226 model1.append IMG_CH = (0.5*(rb * Bancor_CH(-1)))*((BancorS_CH(-1)>0.05)+(defCA_CH(-1)>0)) +0*((BancorS_CH(-1)=<0.05)+(defCA_CH(-1)=<0)) 'Equation 227 model1.append IMG_RW = (0.5*(rb * Bancor_RW(-1)))*((BancorS_RW(-1)>0.05)+(defCA_RW(-1)>0)) +0*((BancorS_RW(-1)=<0.05)+(defCA_RW(-1)=<0)) 'Additional equations model1.append CA_EZ_US = X_EZ_US - IM_EZ_US + r_US(-1) * Bs_US_b_EZ(-1) * E1 + r_US(-1) * Bs_US_cb_EZ(-1) * E1 - r_EZ(-1) * Bs_EZ_b_US(-1) model1.append CA_EZ_CH = X_EZ_CH - IM_EZ_CH + r_CH(-1) * Bs_CH_b_EZ(-1) * 1/E3 - r_EZ(-1) * Bs_EZ_b_CH(-1) model1.append CA_EZ_RW = X_EZ_RW - IM_EZ_RW + r_RW(-1) * Bs_RW_b_EZ * 1/E6 - r_EZ(-1) * Bs_EZ_b_RW(-1) model1.append CA_EZ = CA_EZ_US + CA_EZ_CH + CA_EZ_RW model1.append CA_US_EZ = X_US_EZ - IM_US_EZ + r_EZ(-1) * Bs_EZ_b_US(-1) * 1/E1 - r_US(-1) * Bs_Us_b_EZ(-1) - r_US(-1) * Bs_US_cb_EZ(-1) model1.append CA_US_CH = X_US_CH - IM_US_CH + r_CH(-1) * Bs_CH_b_US(-1) * 1/E2 - r_US(-1) * Bs_Us_b_CH(-1) - r_US(-1) * Bs_US_cb_CH(-1) model1.append CA_US_RW = X_US_RW - IM_US_RW + r_RW(-1) * Bs_RW_b_US(-1) * 1/E4 - r_US(-1) * Bs_Us_b_RW(-1) - r_US(-1) * Bs_US_cb_RW(-1) model1.append CA_US = CA_US_EZ + CA_US_CH + CA_US_RW model1.append CA_CH_EZ = X_CH_EZ - IM_CH_EZ + r_EZ(-1) * Bs_EZ_b_CH(-1) * E3 - r_CH(-1) * Bs_CH_b_EZ(-1) model1.append CA_CH_US = X_CH_US - IM_CH_US + r_US(-1) * Bs_US_b_CH(-1) * E2 + r_US(-1) * Bs_US_cb_CH(-1) * E2 - r_CH(-1) * Bs_CH_b_US(-1) model1.append CA_CH_RW = X_CH_RW - IM_CH_RW + r_RW(-1) * Bs_RW_b_CH(-1) * E5 - r_CH(-1) * Bs_CH_b_RW(-1) model1.append CA_CH = CA_CH_EZ + CA_CH_US + CA_CH_RW model1.append CA_RW_EZ = X_RW_EZ - IM_RW_EZ + r_EZ(-1) * Bs_EZ_b_RW(-1) * E6 - r_RW(-1) * Bs_RW_b_EZ(-1) model1.append CA_RW_US = X_RW_US - IM_RW_US + r_US(-1) * Bs_US_b_RW(-1) * E4 + r_US(-1) * Bs_US_cb_RW(-1) * E4 - r_RW(-1) * Bs_RW_b_US(-1) model1.append CA_RW_CH = X_RW_CH - IM_RW_CH + r_CH(-1) * Bs_CH_b_RW(-1) * (1/E5) - r_RW(-1) * Bs_RW_b_CH(-1) model1.append CA_RW = CA_RW_EZ + CA_RW_US + CA_RW_CH model1.append defca_CH= CA_CH/Y_CH model1.append defca_EZ= CA_EZ/Y_EZ model1.append defca_RW= CA_RW/Y_RW model1.append defca_US= CA_US/Y_US model1.solve(i=p,o=b) model1.scenario "Scenario 1" model1.override wi_us series wi_us_1=wi_us smpl 50 200 wi_us_1=wi_us_1-0.01 smpl @all model1.solve smpl 49 80 delete ch_01* graph ch_01.line G_US_1/G_US_0 Y_US_1/Y_US_0 group ch_01g G_US_1/G_US_0 Y_US_1/Y_US_0 ch_01.addtext(t,just(c),font(Arial,12,+b)) Decrease in US Public Spending ch_01.setelem(1) lcolor(black) lpat(dash2) lwidth(1.5) legend(G_US) ch_01.setelem(2) lcolor(blue) lpat(dash2) lwidth(1.5) legend(Y_US) ch_01.legend columns(1) -inbox position(3.13,0.87) font(Arial,10) ch_01.axis(l) grid ch_01.options linepat ch_01.addtext(0.05,0.06,font(Arial,10,+i)) Ratios to the baseline show ch_01 smpl 49 80 delete ch_02* graph ch_02.line defca_us_1-defca_us_0 defca_ez_1-defca_ez_0 defca_ch_1-defca_ch_0 defca_rw_1-defca_rw_0 group ch_02g defca_us_1-defca_us_0 defca_ez_1-defca_ez_0 defca_ch_1-defca_ch_0 defca_rw_1-defca_rw_0 ch_02.addtext(t,just(c),font(Arial,12,+b)) Decrease in US Public spending\nCurrent accounts ch_02.setelem(1) lcolor(black) lpat(dash2) lwidth(1.5) legend(CA_US/Y_US) ch_02.setelem(2) lcolor(blue) lpat(dash2) lwidth(1.5) legend(CA_EZ/Y_EZ) ch_02.setelem(3) lcolor(red) lpat(dash2) lwidth(1.5) legend(CA_CH/Y_CH) ch_02.setelem(4) lcolor(green) lpat(dash2) lwidth(1.5) legend(CA_RW/Y_RW) ch_02.legend columns(1) -inbox position(3.13,0.87) font(Arial,10) ch_02.axis(l) grid ch_02.options linepat ch_02.addtext(0.05,0.06,font(Arial,10,+i)) Difference to the baseline show ch_02 smpl 49 80 delete ch_04* graph ch_04.line Y_US_1/Y_US_0 Y_EZ_1/Y_EZ_0 Y_CH_1/Y_CH_0 Y_RW_1/Y_RW_0 Y_world_1/Y_world_0 group ch_04g Y_US_1/Y_US_0 Y_EZ_1/Y_EZ_0 Y_CH_1/Y_CH_0 Y_RW_1/Y_RW_0 Y_world_1/Y_world_0 ch_04.addtext(t,just(c),font(Arial,12,+b)) Decrease in US Public spending\nGDP ch_04.setelem(1) lcolor(black) lpat(dash2) lwidth(1.5) legend(US) ch_04.setelem(2) lcolor(blue) lpat(dash2) lwidth(1.5) legend(Eurozone) ch_04.setelem(3) lcolor(red) lpat(dash1) lwidth(1.5) legend(China) ch_04.setelem(4) lcolor(green) lpat(dash1) lwidth(1.5) legend(RoW) ch_04.setelem(5) lcolor(orange) lpat(dash1) lwidth(1.5) legend(World) ch_04.legend columns(1) -inbox position(3.13,0.87) font(Arial,10) ch_04.axis(l) grid ch_04.options linepat ch_04.addtext(0.05,0.06,font(Arial,10,+i)) Ratio to the baseline show ch_04 smpl 49 80 delete ch_05* graph ch_05.line E1_1/E1_0 E2_1/E2_0 E3_1/E3_0 E4_1/E4_0 E5_1/E5_0 E6_1/E6_0 group ch_05g E1_1/E1_0 E2_1/E2_0 E3_1/E3_0 E4_1/E4_0 E5_1/E5_0 E6_1/E6_0 ch_05.addtext(t,just(c),font(Arial,12,+b)) Decrease in US Public Spending ch_05.setelem(1) lcolor(black) lpat(dash2) lwidth(1.5) legend(Euro/Dollar) ch_05.setelem(2) lcolor(blue) lpat(dash2) lwidth(1.5) legend(Renmenbi/Dollar) ch_05.setelem(3) lcolor(red) lpat(dash2) lwidth(1.5) legend(Renmenbi/Euro) ch_05.setelem(4) lcolor(green) lpat(dash1) lwidth(1.5) legend(RoW/Dollar) ch_05.setelem(5) lcolor(orange) lpat(dash1) lwidth(1.5) legend(Renmenbi/RoW) ch_05.setelem(6) lcolor(yellow) lpat(dash1) lwidth(1.5) legend(RoW/Euro) ch_05.legend columns(1) -inbox position(3.13,0.87) font(Arial,10) ch_05.axis(l) grid ch_05.options linepat ch_05.addtext(0.05,0.06,font(Arial,10,+i)) Ratio to the baseline show ch_05 smpl @all