I am trying to replicate “Understanding Macro and Asset Price Dynamics During the Climate Transition” by Donadelli, Grüning and Hitzemann.
When I run the code attached, I have the following error:
Caught ogu::Exception: dynamic_atoms.cpp:470: A wrong lag/lead of a variable in VarOrdering::do_pbspbfbf░5╚
Can someone help me? DonadelliGruningHitaemann.mod (10.2 KB)

I rewrite it. Here I attach it. The following error appears:
Error using print_info (line 32)
Impossible to find the steady state (the sum of square residuals of the static equations is Inf). Either the model doesn’t have a steady state, there are an infinity of steady states, or the guess values are too far from the solution

The model seems to me written correctly. Could You help me?

The problem is that by using steady through dynare, the following message appears:
Error using print_info (line 32)
Impossible to find the steady state (the sum of square residuals of the static equations is
Inf). Either the model doesn’t have a steady state, there are an infinity of steady states,
or the guess values are too far from the solution.
Do I need to provide initial values anyway?

It gives me again: “Error using print_info (line 32)
Impossible to find the steady state (the sum of square residuals of the static equations is Inf). Either the model doesn’t have a steady state, there are an infinity of steady states, or the guess values are too far from the solution.” decentralized-2.mod (10.4 KB)