I am currently solving for steady state, trying to replicate an IMF paper, whose codes I have been provided. However, whenever I try to run it - I get the following:
There are 16 eigenvalue(s) larger than 1 in modulus
for 15 forward-looking variable(s)
The rank conditions ISN’T verified!
Total computing time : 0h00m00s
Max difference between steady states:
I counted the number of endogenous variables and equations, which were 48 and satisfy the rank condition.