Use the steady_state-operator:
model;
log(M)-log(steady_state(Mbar))=rho*(log(M(-1))-log(steady_state(M)));
end;
Note, however, that the steady state must be uniquely determined. See the discussion at the bottom of [Open Economy)
Use the steady_state-operator:
model;
log(M)-log(steady_state(Mbar))=rho*(log(M(-1))-log(steady_state(M)));
end;
Note, however, that the steady state must be uniquely determined. See the discussion at the bottom of [Open Economy)