ERROR: There are 14 equations but 12 endogenous variables!

Dear All,

I have a problem with my code. I’m coding now A New Keynesian Model with Price Stickiness from Eric Sims classes. But I have the following Error:

Using 64-bit preprocessor
Starting Dynare (version 4.5.7).
Starting preprocessing of the model file …
ERROR: There are 14 equations but 12 endogenous variables!

How I can throw some equations or add any variables?

Attached a code in mod file.

Thank you!

NKM_draft_stoch.mod (1.2 KB)

Where do your last two equations come from? It seems there are three equations defining m