Error "The steady state file did not compute the steady state"s

Steady state
1

Dear All,
I rewrote Gertler’s 2011 (B_GK11) codes to model shadow banking (my_code2). I always get “The steady state file did not compute the steady state” error. I don’t know where the error. I am not a professional in DSGE models and Dynare. please help me. Where is my mistake?

B_GK11.mod (8.6 KB)
my_code2.mod (11.4 KB)

2

As I always say: only go for exp()-substitutions once the model works. Also, did you make sure to adjust parameters in order to hit the fixed calibration targets like labor being 1/3 in steady state?

3

Dear Professor, thank you very much for your response. So you suggest I not use exp() substitutions? But when I remove the exp () from the base codes (B_GK11), the model doesn’t run.
Is it better if I use “initval” instead of “steady_state_model”?

4

That suggests that you made a mistake in eliminating the exp(). You can try initval, but that will often fail in such cases.