1. run calibration_haoning.m to do the calibration, which solves the parameters and show the minimum of distance of model moment to target moments
p.s: target six moments: B/Y=0.6, I/Y=0.2, R^B=1.0055, N=0.25, r_t^{\omega}, r_t^{\pi}

2. run main_code_original_calibration.m to generate Figures 1, 4, 6, 7, 8; and run main_code_original_calibration_robust.m to generate the figures for robustness analysis (with alternative decomposition for yield premium).

3. run figure_aggregate_demand_three_panels_haoning.m to generate Figure 3;

4. run figure_irf_no_policy_all_new2_haoning.m to generate Figure 5, and run figure_irf_no_policy_all_new2_robust_haoning.m to generate the corresponding Figure for robustness analysis;

5. run figure_osr_policy_conventional_2_haoning.m to generate Figure 9, and to generate the data series, run osr_policy_conventional_2_haoning.m and osr_policy_conventional_2_haoning_other.m

6. run comparative_steady_state_welfare.m to generate Figure 10

7. run figure_osr_unconventional.m to generate Figure 11, and to generate the data series, run osr_policy_unconventional_new.m