Error: The steady state has NaNs or Inf

Dear professor,

I’m new in dynare and I’m having trouble with the attached .mod file. When I run the model, it does calculate the values, but it jumps out the following message: “error: The steady state has NaNs or Inf.” whit a huge bunch of warnings. Could you help me?

Thank you very much.


Prueba1_Macro1_PD.mod (2.2 KB)

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Your exogenous processes are inconsistently defined. Sometimes you are correctly using an exp()-substitution, sometimes not. Only do an exp-substitution once the model works.
I would recommend going for option 3 at