RATS Version 5

Current Version 5.10

This version highlights are:

Here are the highlights of 5.10:

  • Callable Functions: You can now create your own user-defined functions. These are similar to RATS procedures, but unlike procedures, they can be called in expressions, such as in a FRML statement. This represents the single most important step in expanding the scope of optimization problems that RATS can handle since the introduction of the MAXIMIZE command years ago.
  • Wizards! New menu- and dialog-box-driven wizards greatly simplify many common tasks, including specifying a date scheme and reading in data, generating basic statistics, and performing univariate regressions and testing restrictions. We've also incorporated much of the functionality of RATSDATA into RATS.
  • Report generator: The new REPORT command can simplify and fool-proof the process of extracting numerical results into reports for publication. This can be a huge time-saver for users publishing results.
  • More Monte Carlo/Bootstrapping Support: New functions and expanded documentation (in PDF format) extend the capabilities for doing simulations and bootstrapping
  • GMM additions: We've added additional options for lag window estimators for handling serial correlation in covariance matrix calculations and GMM weight matrix computations

Previous versions

Version - 5.0

Product Information
The release of Version 5 marks the most significant upgrade to the program in eight years!

The release of 5.02, released in June, 2002 includes several handy new features and a number of bug fixes. For details on the new features, see the July 2002 RATSLetter. For a listing of bug fixes, see Known Bugs.

Highlights of version 5
Download 5.02
News, Newsletters and Announcements

New Instructions
RATS Version 5 offers five new instructions:

  • CVMODEL estimates structural VAR’s.
  • ECT adds error correction effects to a VAR.
  • DLM works with state space models, employing Kalman filtering and smoothing.
  • PFORM creates panel series from other sources
  • PREGRESS performs fixed and random effects estimation.
  • DENSITY computes empirical density functions.

New Functions
There are more than fifty new functions, including new probability and distribution functions, matrix concatenation/extraction functions, tools for creating series on the fly, and more.

Non-Linear Estimation
Improvements include:

  • the ability to use arrays as non-linear parameters.
  • a new PARMSET variable type that makes it easy to combine several sets of non-linear parameters, allowing models to be created in pieces and combined only when estimated.
  • the ability to impose equality and inequality constraints.
  • a new "genetic" estimation method which allows a much broader search of the parameter space.
  • the ability to define vectors of formulas, including the option of creating them inside a loop.

Vector Autoregressions and Systems of Equations
In addition to the new CVMODEL and ECT instructions, several "convenience" features have been added. For example, it is now much easier to save VAR residuals, forecasts, and impulses responses, using the new "RESULTS" option. Also, the SYSTEM instruction now includes a MODEL option that allows you to define a VAR as a model, which makes setting up instructions like IMPULSE and FORECAST much easier.

Probability and Random Numbers
New functions have been added for computing probability distributions and their inverses, as well as factorials and binomial coefficients. Additional documentation covers techniques like Gibbs sampling and approximate randomization in detail.

Revised Documentation
The RATS documentation has been reformatted into two standard 7"x9" books, and will be included in electronic form (Adobe PDF files) with each copy of RATS. The manual features more examples, more technical details, and offers expanded/new coverage of many topics, including Structural (identified, Bernanke-Sims) VAR’s, Blanchard-Quah decomposition, ARCH and GARCH models, hazard models, state-space models, simulations and bootstrapping, and non-linear estimation.

Changes to Existing Instructions
See the RATS 5 Instruction Details page for a detailed instruction-by-instruction listing of new options, features, and other improvements included in Version 5.

Download 5.02

Downloadable updates are currently available for the Windows and DOS platforms. Macintosh and UNIX customers can receive updated executable files by e-mail at no charge. Just send an e-mail to rats@timberlake.co.uk to request an update. You must include your full name and RATS serial number to request an update.

If you prefer to receive a copy of the update on CD, you can order the 5.02 update from Timberlake Consultants at a cost of £25. Call, write, e-mail, or fax to place your order (the update is currently not available via the on-line ordering system).

To download an update, just download the Zip file appropriate for your version of RATS, and then follow the instructions below to update your copy to Version 5.02. If you aren't sure which version you are currently running, start RATS and use the "About RATS" operation on the Help menu to check the version number. Some of you may have received interim builds of RATS from us in recent months. In such cases, you will need to re-install your original version of RATS from the CD before applying the patch.

  • To update from WinRATS-32 5.00 to WinRATS-32 5.02, download the patch file WR500502.ZIP
  • To update from WinRATS-32 5.01 to WinRATS-32 5.02, download WR501502.ZIP
  • If you have the version of WinRATS-32 5.00 that includes the X11 seasonal adjustment module, download download WX500502.ZIP
  • If you have Version 5.01 of WinRATS-32+X11, download WX501502.ZIP
  • To update WinRATS-16 5.00 to WinRATS-16 5.02, download the patch file W6500502.ZIP
  • To update WinRATS-16 5.01 to WinRATS-16 5.02, download W6501502.ZIP
  • To update RATS386 5.0 to RATS386 5.01, download the patch file R500502.ZIP
  • To update RATS386 5.01 to Version 5.02, download the file R501502.ZIP

Instructions for Applying the Update Patch

1. Important Note: Some of you have received test "builds" of 5.02 in the past couple of months. In order to update your software to the official 5.02 release, you must first re-install your original (5.0 or 5.01) version from your CD before trying to apply this patch. The patch software won't recognize, or update, anything except the original 5.0 or 5.01 files.

2. Unzip the contents of this file into the directory containing your RATS software. This might be C:\Program Files\Estima\WinRATS-32 5.0\, or it may be another directory that you specified when installing the software.

3. Run the program "PATCH" from within that directory, either by:

  • Clicking on the PATCH.EXE file in Windows Explorer
  • Running the program using the "Run" operation on the "Start" menu, or
  • by opening a DOS prompt, switching to the RATS directory, and typing PATCH and then hitting the "Enter" key.

You should now be able to run the new version of RATS. Use "About RATS" from the Help menu in RATS to verify that you are now running Version 5.02.