Error in Basu/Bundic 2017


#1

Hello Johannes,

I am trying to run your codes for https://github.com/JohannesPfeifer/DSGE_mod/tree/master/Basu_Bundick_2017 But the I following error.

In test_for_deep_parameters_calibration (line 46)
In steady (line 33)
In Basu (line 456)
In dynare (line 180)

STEADY: The Jacobian contains Inf or NaN. The problem arises from:

STEADY: Derivative of Equation 1 with respect to Variable C (initial value of C: 0)
STEADY: Derivative of Equation 4 with respect to Variable C (initial value of C: 0)
STEADY: Derivative of Equation 34 with respect to Variable C (initial value of C: 0)
STEADY: Derivative of Equation 1 with respect to Variable N (initial value of N: 0)
STEADY: Derivative of Equation 4 with respect to Variable N (initial value of N: 0)
STEADY: Derivative of Equation 7 with respect to Variable N (initial value of N: 0)
STEADY: Derivative of Equation 10 with respect to Variable N (initial value of N: 0)
STEADY: Derivative of Equation 11 with respect to Variable N (initial value of N: 0)
STEADY: Derivative of Equation 12 with respect to Variable N (initial value of N: 0)
STEADY: Derivative of Equation 37 with respect to Variable N (initial value of N: 0)
STEADY: Derivative of Equation 5 with respect to Variable P_E (initial value of P_E: 0)
STEADY: Derivative of Equation 21 with respect to Variable P_E (initial value of P_E: 0)
STEADY: Derivative of Equation 5 with respect to Variable D_E (initial value of D_E: 0)
STEADY: Derivative of Equation 21 with respect to Variable D_E (initial value of D_E: 0)
STEADY: Derivative of Equation 3 with respect to Variable R_R (initial value of R_R: 0)
STEADY: Derivative of Equation 6 with respect to Variable R_R (initial value of R_R: 0)
STEADY: Derivative of Equation 16 with respect to Variable R_R (initial value of R_R: 0)
STEADY: Derivative of Equation 39 with respect to Variable W (initial value of W: 0)
STEADY: Derivative of Equation 2 with respect to Variable V (initial value of V: 0)
STEADY: Derivative of Equation 5 with respect to Variable V (initial value of V: 0)
STEADY: Derivative of Equation 6 with respect to Variable V (initial value of V: 0)
STEADY: Derivative of Equation 13 with respect to Variable V (initial value of V: 0)
STEADY: Derivative of Equation 14 with respect to Variable V (initial value of V: 0)
STEADY: Derivative of Equation 18 with respect to Variable V (initial value of V: 0)
STEADY: Derivative of Equation 25 with respect to Variable V (initial value of V: 0)
STEADY: Derivative of Equation 27 with respect to Variable V (initial value of V: 0)
STEADY: Derivative of Equation 28 with respect to Variable V (initial value of V: 0)
STEADY: Derivative of Equation 1 with respect to Variable E_t_V_tp1_1_minus_sigma (initial value of E_t_V_tp1_1_minus_sigma: 0)
STEADY: Derivative of Equation 5 with respect to Variable E_t_V_tp1_1_minus_sigma (initial value of E_t_V_tp1_1_minus_sigma: 0)
STEADY: Derivative of Equation 6 with respect to Variable E_t_V_tp1_1_minus_sigma (initial value of E_t_V_tp1_1_minus_sigma: 0)
STEADY: Derivative of Equation 13 with respect to Variable E_t_V_tp1_1_minus_sigma (initial value of E_t_V_tp1_1_minus_sigma: 0)
STEADY: Derivative of Equation 14 with respect to Variable E_t_V_tp1_1_minus_sigma (initial value of E_t_V_tp1_1_minus_sigma: 0)
STEADY: Derivative of Equation 18 with respect to Variable E_t_V_tp1_1_minus_sigma (initial value of E_t_V_tp1_1_minus_sigma: 0)
STEADY: Derivative of Equation 25 with respect to Variable E_t_V_tp1_1_minus_sigma (initial value of E_t_V_tp1_1_minus_sigma: 0)
STEADY: Derivative of Equation 27 with respect to Variable E_t_V_tp1_1_minus_sigma (initial value of E_t_V_tp1_1_minus_sigma: 0)
STEADY: Derivative of Equation 28 with respect to Variable E_t_V_tp1_1_minus_sigma (initial value of E_t_V_tp1_1_minus_sigma: 0)
STEADY: Derivative of Equation 33 with respect to Variable Y (initial value of Y: 0)
STEADY: Derivative of Equation 3 with respect to Variable K (initial value of K: 0)
STEADY: Derivative of Equation 7 with respect to Variable K (initial value of K: 0)
STEADY: Derivative of Equation 8 with respect to Variable K (initial value of K: 0)
STEADY: Derivative of Equation 10 with respect to Variable K (initial value of K: 0)
STEADY: Derivative of Equation 11 with respect to Variable K (initial value of K: 0)
STEADY: Derivative of Equation 12 with respect to Variable K (initial value of K: 0)
STEADY: Derivative of Equation 14 with respect to Variable K (initial value of K: 0)
STEADY: Derivative of Equation 15 with respect to Variable K (initial value of K: 0)
STEADY: Derivative of Equation 16 with respect to Variable K (initial value of K: 0)
STEADY: Derivative of Equation 8 with respect to Variable I (initial value of I: 0)
STEADY: Derivative of Equation 14 with respect to Variable I (initial value of I: 0)
STEADY: Derivative of Equation 15 with respect to Variable I (initial value of I: 0)
STEADY: Derivative of Equation 35 with respect to Variable I (initial value of I: 0)
STEADY: Derivative of Equation 13 with respect to Variable Pi (initial value of Pi: 0)
STEADY: Derivative of Equation 17 with respect to Variable Pi (initial value of Pi: 0)
STEADY: Derivative of Equation 18 with respect to Variable Pi (initial value of Pi: 0)
STEADY: Derivative of Equation 14 with respect to Variable R_K (initial value of R_K: 0)
STEADY: Derivative of Equation 14 with respect to Variable q (initial value of q: 0)
STEADY: Derivative of Equation 15 with respect to Variable q (initial value of q: 0)
STEADY: Derivative of Equation 36 with respect to Variable mu (initial value of mu: 0)
STEADY: Derivative of Equation 38 with respect to Variable sigma_a (initial value of sigma_a: 0)
STEADY: Derivative of Equation 1 with respect to Variable a (initial value of a: 0)
STEADY: Derivative of Equation 7 with respect to Variable Z (initial value of Z: 0)
STEADY: Derivative of Equation 10 with respect to Variable Z (initial value of Z: 0)
STEADY: Derivative of Equation 11 with respect to Variable Z (initial value of Z: 0)
STEADY: Derivative of Equation 12 with respect to Variable Z (initial value of Z: 0)
STEADY: Derivative of Equation 17 with respect to Variable R (initial value of R: 0)
STEADY: Derivative of Equation 18 with respect to Variable R (initial value of R: 0)
STEADY: Derivative of Equation 10 with respect to Variable Xi (initial value of Xi: 0)
STEADY: Derivative of Equation 11 with respect to Variable Xi (initial value of Xi: 0)
STEADY: Derivative of Equation 12 with respect to Variable Xi (initial value of Xi: 0)
STEADY: Derivative of Equation 19 with respect to Variable Xi (initial value of Xi: 0)
STEADY: Derivative of Equation 7 with respect to Variable u (initial value of u: 0)
STEADY: Derivative of Equation 10 with respect to Variable u (initial value of u: 0)
STEADY: Derivative of Equation 11 with respect to Variable u (initial value of u: 0)
STEADY: Derivative of Equation 12 with respect to Variable u (initial value of u: 0)
STEADY: Derivative of Equation 14 with respect to Variable u (initial value of u: 0)
STEADY: Derivative of Equation 26 with respect to Variable R_E (initial value of R_E: 0)
STEADY: Derivative of Equation 27 with respect to Variable R_E (initial value of R_E: 0)
STEADY: Derivative of Equation 28 with respect to Variable R_E (initial value of R_E: 0)
STEADY: Derivative of Equation 26 with respect to Variable E_M_tp1 (initial value of E_M_tp1: 0)
STEADY: Derivative of Equation 29 with respect to Variable E_M_tp1 (initial value of E_M_tp1: 0)
STEADY: Derivative of Equation 29 with respect to Variable E_M_tp1_R_E (initial value of E_M_tp1_R_E: 0)
STEADY: Derivative of Equation 29 with respect to Variable E_M_tp1_R_E_squared (initial value of E_M_tp1_R_E_squared: 0)
STEADY: Derivative of Equation 44 with respect to Variable pi_annualized (initial value of pi_annualized: 0)
STEADY: Derivative of Equation 45 with respect to Variable R_annualized (initial value of R_annualized: 0)
STEADY: Derivative of Equation 46 with respect to Variable R_K_annualized (initial value of R_K_annualized: 0)
STEADY: Derivative of Equation 47 with respect to Variable R_R_annualized (initial value of R_R_annualized: 0)

STEADY: The problem most often occurs, because a variable with
STEADY: exponent smaller than 1 has been initialized to 0. Taking the derivative
STEADY: and evaluating it at the steady state then results in a division by 0.
Error using dynare_solve (line 60)
An element of the Jacobian is not finite or NaN
Error in evaluate_steady_state (line 66)
[ys,check] = dynare_solve([M.fname 'static’],…
Error in steady
(line 54)
[steady_state,params,info] = evaluate_steady_state(oo_.steady_state,M_,options_,oo_,~options_.steadystate.nocheck);
Error in steady (line 81)
[steady_state,M_.params,info] = steady_(M_,options_,oo_);
Error in Basu (line 456)
steady;
Error in dynare (line 180)
evalin(‘base’,fname) ;


#2

This sounds as if you forgot to download the steady state file or did not properly name it so Dynare can recognize it.