Hello everyone. I got stuck in this error for a few days. I have searched the forum and seen some possible solutions. I think there is no timing problem and redundant equations.
Error using print_info (line 42)
Blanchard Kahn conditions are not satisfied: no stable equilibrium
Error in stoch_simul (line 100)
print_info(info, options_.noprint, options_);
Error in c (line 371)
info = stoch_simul(var_list_);
Error in dynare (line 235)
And the model diagnostics is as follow. Thanks in advance for any advice!
MODEL_DIAGNOSTICS: The Jacobian of the static model is singular
MODEL_DIAGNOSTICS: there is 1 colinear relationships between the variables and the equations
4 9 19 21
MODEL_DIAGNOSTICS: The singularity seems to be (partly) caused by the presence of a unit root
MODEL_DIAGNOSTICS: as the absolute value of one eigenvalue is in the range of ±1e-6 to 1.
MODEL_DIAGNOSTICS: If the model is actually supposed to feature unit root behavior, such a warning is expected,
MODEL_DIAGNOSTICS: but you should nevertheless check whether there is an additional singularity problem.
MODEL_DIAGNOSTICS: The presence of a singularity problem typically indicates that there is one
MODEL_DIAGNOSTICS: redundant equation entered in the model block, while another non-redundant equation
MODEL_DIAGNOSTICS: is missing. The problem often derives from Walras Law.
Modulus Real Imaginary
4.989e-15 4.989e-15 0 0.4905 0.4905 0 0.5 0.5 0 0.95 0.95 0 0.98 0.98 0 1 1 0 1.01 1.01 0 1.012 1.012 0 1.013 1.013 0 1.627 1.627 0
There are 4 eigenvalue(s) larger than 1 in modulus for 2 forward-looking variable(s)
The rank condition ISN’T verified!