It indicates a fundamental singularity in your model. Usually, it’s either a timing error or something more fundamental like having a redundant equation in the model e.g. due to Walras Law.
Yes, the problem was the with the bond stationarity condition which was getting violated. Thank you!
Hi, professor,
I have run into difficultities when running the attached model file.
The error message says" ERROR: money.mod: line 271, cols 56-65: Symbol a_star cannot take arguments.
Error using dynare (line 282)
DYNARE: preprocessing failed
Please could you help me diagnose it ?
Hi, professor,
I have run into difficultities when running the attached model file.
The error message says" ERROR: money.mod: line 271, cols 56-65: Symbol a_star cannot take arguments.
Error using dynare (line 282)
DYNARE: preprocessing failed
Please could you help me diagnose it ?
Mon modele DSGE konan yao cesar.txt (13.5 KB)
If the model works for say a parameter value of tau =0.5 but does not work for tau=0.6, does that mean, there is something wrong with the model?
I really don’t know, this is my first DSGE model.
@KONAN You have
r_bar_star =((1+chi)/(1+chi*(phi*psi+(1-phi)*sigma)))*(a_star(+1)- a_star);
in the steady_state_model-block, but there no timing (+1) is allowed.
@steve_1983 That depends on the error that happens.
@jpfeifer how does the error indicate which parameter is not correctly parameterized.
You asked whether the model not working for some parameter value indicates a problem with the model. For some cases like e.g. Blanchard-Kahn conditions this is not unusual. But if for example the steady state cannot be computed given your initial values, it simply may mean that you need to provide an analytical steady state.
Thank you Professor,
can i contact you with the items i use for more help???
Thank you Professor.
Thank you Professor for your invaluable help.
However, I would like to send you the articles I use for the model.
Thank you Professor and good reception.
IMPORTANT.pdf (742.5 KB)
What exactly is the problem you are facing?
Hello Professor,
The problem with the work is that I can’t get the model to run. so I’m stuck on this step. I searched for the Matlab code in vain. I wrote to the authors, but I didn’t get a follow up.
You need to always provide more information. What exactly is the error message you are facing?
dynare THESE
Using 64-bit preprocessor
Starting Dynare (version 4.6.4).
Calling Dynare with arguments: none
Starting preprocessing of the model file …
Found 46 equation(s).
Evaluating expressions…done
Computing static model derivatives (order 1).
Computing dynamic model derivatives (order 2).
Processing outputs …
done
Preprocessing completed.
STEADY-STATE RESULTS:
ctild_star 0
ctild_s 0
ctild_B 0
ctild_i 0
pi_star 0
pi_s 0
pi_B 0
ytild_star 0
ytild_s 0
ytild_B 0
tt_tild_s 0
tt_tild_B 0
tt_tild_i 0
dchapo_g_s 0
dchapo_g_B 0
gtild_s 0
gtild_B 0
gtild_star 0
tautild_s 0
tautild_B 0
rtild_star 0
r_bar_star 0
tt_bar_s 0
tt_bar_B 0
c_bar_s 0
c_bar_B 0
c_bar_star 0
g_bar_s 0
g_bar_B 0
g_bar_star 0
y_bar_s 0
y_bar_B 0
y_bar_star 0
tau_bar_s 0
tau_bar_B 0
p_bar_star 0
p_bar_s 0
muchapo_w_B 0
muchapo_w_s 0
p_bar_B 0
bchapo_s 0
bchapo_B 0
bchapo_star 0
a_s 0
a_B 0
a_star 0
EIGENVALUES:
Modulus Real Imaginary
0 -0 0
2.895e-17 2.895e-17 0
9.535e-17 9.535e-17 0
3.576e-16 3.576e-16 0
1.338e-15 -1.338e-15 0
1.393e-15 -1.393e-15 0
2.037e-15 -2.037e-15 0
3.17e-15 3.17e-15 0
4.484e-09 4.484e-09 0
4.484e-09 -4.484e-09 0
0.1068 0.1068 0
0.1757 0.1757 0
0.2435 -0.2435 0
0.2929 -0.2929 0
0.3507 0.3507 0
0.3771 0.3771 0
0.9334 -0.2203 0.907
0.9334 -0.2203 -0.907
0.972 0.972 0
0.9869 0.9869 0
1.562 1.562 0
24.84 24.84 0
32.24 -1.38 32.21
32.24 -1.38 -32.21
3.719e+20 -3.719e+20 0
There are 5 eigenvalue(s) larger than 1 in modulus
for 5 forward-looking variable(s)
The rank condition ISN’T verified!
Error using print_info (line 32)
Blanchard & Kahn conditions are not satisfied: indeterminacy due to rank failure.
Error in stoch_simul (line 107)
print_info(info, options_.noprint, options_);
Error in THESE.driver (line 613)
[info, oo_, options_, M_] = stoch_simul(M_, options_, oo_, var_list_);
Error in dynare (line 293)
evalin(‘base’,[fname ‘.driver’]) ;
What does model_diagnostics return?