Create a New Model Template

A model template is a convenient way to predefine a commonly used model. After you create a model template, you can use it repeatedly to create a fitted model for various data sets without recreating the model parameters, equations, and constraints. To create a new model template, right-click a SAS library in the SAS libraries panel, and then select New Model Template. A window opens with its title of the form SASLibrary.newElement.

In this window, you can do the following:

• specify the equations and variable and parameter definitions in Equations on the Details tab. See Equations Details for more details.

• specify the model constraints for the model in Constraints on the Details tab. See Constraints Details for more details.

• view the generated SAS code on the SAS Code tab.

• check the syntax of the SAS code by clicking the Check Syntax button.

• save the model template by clicking OK.

For information about equation statements, variable and parameter definitions, and constraints in the MODEL procedure, see Chapter 18, "The MODEL Procedure" (SAS/ETS User’s Guide), for more information.

The top of the model window has the following fields:

Name:

is the name of the current new model. You can change the default name to another name such as "MYSPEC". A name can contain up to 32 characters, which can be underscores, letters (A–Z or a–z) or numerals (0–9). A name cannot contain spaces.

Description:

is description of the model. You can type some description such as "My favorite template". This field is optional.

Library:

is the SAS library where the model is to be stored.

The model window has two tabs: Details and SAS Code. On the Details tab, you can select Equations or Constraints in the left pane; the fields displayed in the right pane change dependent on the selection in the left pane. For more information about the Details tab, see Equations Details and Constraints Details.

When you define the model variables and equations, you can click SAS Code tab to view the MODEL procedure code that is generated by the values specified on the Details tab. The following SAS statements provide an example of equivalent PROC MODEL code. See Chapter 18, "The MODEL Procedure" (SAS/ETS User’s Guide), for more information about PROC MODEL.

proc model outspec=(WORK.MODSPEC specname=CIR speclabel="Cox Ingersoll Ross")  ;
     endogenous rate ;
     parms kappa ;
     parms theta ;
     parms sigma ;
     label kappa = 'Speed of Mean Reversion'  ;
     label theta = 'Long term Mean'  ;
     label sigma = 'Constant part of Variance'  ;
     
     rate = lag(rate) + kappa * (theta - lag(rate) ) ;
     h.rate = sigma * sigma * lag(rate);
     
run;
quit;