Programs for
“Output, Inflation, and Interest Rates in an Estimated Optimizing Model 
of Monetary Policy”
By Benjamin D. Keen
University of Oklahoma

control.m is the program to estimate the model’s parameters, generate 
the model’s log-likelihood value, calculate the impulse response 
functions, produce the model’s variance decompositions, and generate the 
model’s vector autocorrelations. The user needs to input the data on 
lines 18, 22, 26, and 32.

control_SEsp.m is the program to calculate the standard errors for the 
sticky price model. The user needs to input the data on line 22.

control_SElp.m is the program to calculate the standard errors for the 
limited participation model. The user needs to input the data on line 
22.

control_SEsplp.m is the program to calculate the standard errors for the 
sticky price and limited participation model. The user needs to input 
the data on line 22.

datalikelihood.m is the program that calculates the likelihood values 
for the VAR models. The user needs to input the data on line 9.

datacorrelation.m is the program that calculates the vector 
autocorrelation functions for the VAR model. The user needs to input the 
data on line 9.