Getting error in estimation when adding one more parameter to be estimated

estimation_data.xlsx (19.8 KB)
I try to estimate my model using Bayesian estimation method. The problem is that when I try to add one more parameter to be estimated I get this error:
(minus) the hessian matrix at the “mode” is not positive definite!
=> posterior variance of the estimated parameters are not positive.
You should try to change the initial values of the parameters using
the estimated_params_init block, or use another optimization routine.
Warning: The results below are most likely wrong!

The problem arises when I add, for example, habit parameter in an estimation.
Here is my .mod file.

structural_model_exp.mod (19.1 KB)

Please also provide the data file in such cases. What do the mode_check-plots say?

Dear professor,
I added the data file as You said.

For habit parameter (h) I get such plot.

And the parameter file you are loading is missing.

Param_exp.m (5.4 KB)
solve_for_n.m (468 Bytes)
Sorry, here they are.

Your steady_state_model-block is not valid. It only works for the initial value of h=0.6. That explains the problem. The red dots indicate that no steady state was found.

Thank You very much for Your help. Can You, please, give me some guide how to solve that problem?

You need to adjust your steady state file. See