Hi

When I am running a dynare model, there seems be a error. Is there any who can help me with this? Thank you so much.

var s k c Ec u ;

varexo epsilon;

parameters rho pk y pc beta r sigma ;

rho=0.7;

pk=1;

sigma=0.1;

y=1;

pc=1.5;

beta = 0.5;

r=0.8;

model(linear);

Ec = c(+1);

c=Ec-r+ u;

k=(1-sigma)*k(-1)+s+u;
s=(rho-sigma) pkk+y-pc*c;

u=epsilon;

end;

shocks;

var epsilon;

stderr 1;

end;

steady;

stoch_simul;

!!!

ERROR: project.mod: line 25, cols 6-10: To use an external function © within the model block, you must first declare it via the external_function() statement.

Error using dynare (line 174)

DYNARE: preprocessing failed