Hello. I’m running non-linear DSGE model and I got some question about the steady-state.
At first, I tried to get a steady-state with ‘steady’ command but it said the steady state cannot be computed.
So I solve the steady-state analytically as in the code I attach below, then the steady-states are calculated, although I’m not sure they are right numbers.

Then my questions are:

Can I trust my derivation of steady-state and proceed the simulation?

If I can trust it, why I failed to get a steady-state with the ‘steady’ command? Was it the problem with the initial value?

If I cannot trust it, then are my model equations has some mistakes?

Thank you for your reply! I got further questions.

With the analytical steady-state equation method, I checked residuals and it was all zero.
Then it means I can trust my analytic result?

With the ‘steady’ command, I tried with different algorithms but I failed with everything.
Is it the problem with the initial value or problem with my model equations?

What I meant is that whether I can proceed to simulation part when I get steady-state with ‘steady_state_model’ block, but not with ‘steady’ command.

With ‘steady_state_model’ block including analytic steady state values, I got no errors.
All residuals are zero and model diagnostics said “No obvious problems with this mod-file were detected.”

That means your analytical steady state indeed solves the entered model equations. Of course there could by still mistakes in the equations, but it’s a first sensible sanity check that is not available when using a numerical steady state finder.