A Baseline DSGE Model-----an error

The model is based on the Baseline DSGE model of the Jesus Fernandez, and I change it to use the Bayesian estimation. But there are the following errors:
Optimization terminated: no further progress can be made.
Trust-region radius less than 2*eps.
Problem may be ill-conditioned or Jacobian may be inaccurate.
Try using exact Jacobian or check Jacobian for errors.
??? Error using ==> print_info at 36
MJDGGES returns the following error code: 26

Error in ==> check at 51
print_info(info, options_.noprint);

Error in ==> BaselineDSGE at 233

Error in ==> dynare at 132
evalin(‘base’,fname) ;

If anyone know the cause of the error,please tell me, thanks very much.
data.m (11.6 KB)
BaselineDSGE_steadystate.m (2.53 KB)
BaselineDSGE.mod (3.62 KB)

In your steady state file, ld canot be computed in the fsolve step. The reason seems to be that the initial values is not feasible, suggesting there is still a mistake somewhere in the steady state file.

I suffer difficulties to get the vpt equation in page 15 of a baseline dsge model . Could someone help to show how to get the equation vpt=thetap*()*vpt-1+…,Thank u very much !

See the baseline model in the Dynare examples Folder and the appendix to the paper cited therein.