I have just started Dynare, and tried to use it to solve a simple new keynesian open economy model with incomplete pass through. The model is laid out in a paper by Philip Liu (2006), ‘A Small New Keynesian Model of the New Zealand Economy’, but a utility function with no habit formation. I have attached the .mod file.
I got the following error when I run it in Dynare 4, and have no idea of what the errors are:
??? Error using ==> print_info
MJDGGES returns the following error code13
Error in ==> check at 26
Error in ==> second at 183
Error in ==> dynare at 49
I used this model for my senior essay, and am almost dead if it doesn’t work. can anyone help me please?
second.mod (3.54 KB)