Finding a steady state of a simple NK model

Steady state
1

I am trying to solve for state steady but I am getting this error;

"Residuals of the static equations:

Equation number 1 : 0.067557 : 1
Equation number 2 : 2.2299 : W
Equation number 3 : 0 : K
Equation number 4 : 0 : Y
Equation number 5 : -0.0060288 : 5
Equation number 6 : 0.011429 : 6
Equation number 7 : -0.005 : R
Equation number 8 : 0 : 8

SOLVE: maxit has been reached

Residuals of the static equations:

Equation number 1 : 0.00064731 : 1
Equation number 2 : -7.9194e-08 : W
Equation number 3 : 0 : K
Equation number 4 : 0 : Y
Equation number 5 : 0 : 5
Equation number 6 : 7.9194e-08 : 6
Equation number 7 : -9.2254e-06 : R
Equation number 8 : 0 : 8

Error using print_info
Impossible to find the steady state (the sum of square residuals of the static equations is 0.0000). Either the model doesn’t have a steady state, there are an infinity of
steady states, or the guess values are too far from the solution’

Please help me

2

Without the code it is impossible to tell.

3

Here are the codes
chapter1model.mod (658 Bytes)

4

Are you sure your Euler equation is correct? Shouldn’t the interest rate be in the numerator?

5

Thank you, I have reworked the Euler equation and the model found a steady state.