Example - Common and CMFSTART Rows on Closure/Shocks Page

Consider the following example Closure/Shocks page.

Part

Base Closure [MMM]

Base Shocks [MMM]

Policy Closure [NNN]

Policy Shocks [PPP]

Pattern

MMMBYYYY.CLS

MMMBYYYY.BSH

NNNRYYYY.CLS

PPPPYYYY.PSH

CMFSTART

START1.KEN

N/A

none

START2.PPP

Common

MMSTEP.CLS

none

MMSR.CLS

MMPOL1.PSH

1998

common

MMSTEP1.BSH

common

none

1999

common

MMSTEP2.BSH

SWAP3.CLS

common

2000

SWAP1.CLS

MMSTEP3.BSH

common

POL2000.PSH

2001

common

MMSTEP4.BSH

common

none

2002

SWAP2.CLS

MMSTEP5.BSH

common

none

•The CMSTART file START1.KEN is to be used in the Base while the CMFSTART file START2.PPP is to be used in the Policy. But no CMFSTART file is to be used in the Rerun. [The CMFSTART file for the Rerun goes in the Policy Closure column of the CMFSTART row.] As usual, each CMFSTART file is put at the start of the Command file for every simulation in the relevant run (Base, Rerun or Policy).

•The Base closures for years 19998, 19999 and 2001 are the same, as specified in Common file MMSTEP.CLS.

•The Base closure for year 2000 consists of the closure in MMSTEP.CLS followed by the statements (presumably swap statements) in file SWAP1.CLS. Similarly for the Base closure in 2002 except that file SWAP2.CLS is used.

•There is no Common Shocks file in the Base.

•There is a Common Closure file MMSR.CLS for the Rerun and Policy. Rerun and Policy closures are the same in all years except for 1999 when the swaps in SWAP3.CLS are applied after the closure in MMSR.CLS.

•There is a Common Shocks file MMPOL1.PSH for the Policy.

•In year 1999 of the Policy, the shocks in Common file MMPOL1.PSH are applied. In year 2000 of the Policy, the Common shocks in MMPOL1.PSH are applied as are the shocks in file POL2000.PSH.

•No (extra) policy shcks are applied in years 2001 or 2002 of the Policy. This is because none is in the relevant column. [If none were changed to common, the common shocks would be applied.]


URL of this topic: www.copsmodels.com/webhelp/rundynam/hc_cmfstartexm.htm

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