HELP! Can't find steady state

Steady state
1

dear all:
Looking for help! I run the model with dynare, the result as follows:

Using 64-bit preprocessor
Starting Dynare (version 4.6.4).
Calling Dynare with arguments: none
Starting preprocessing of the model file …
Found 25 equation(s).
Evaluating expressions…done
Computing static model derivatives (order 1).
Computing dynamic model derivatives (order 1).
Processing outputs …
done
Preprocessing completed.

Residuals of the static equations:

Equation number 1 : 0.26577 : 1
Equation number 2 : -0.47584 : 2
Equation number 3 : 3.2103 : 3
Equation number 4 : -2.0113 : 4
Equation number 5 : -0.48792 : 5
Equation number 6 : -1.1247 : 6
Equation number 7 : 17.7059 : 7
Equation number 8 : 1.9174 : 8
Equation number 9 : 3.0055 : 9
Equation number 10 : -4.1117 : 10
Equation number 11 : 0.12312 : 11
Equation number 12 : 1.9089 : 12
Equation number 13 : -1.4678 : 13
Equation number 14 : -1.7295 : 14
Equation number 15 : 0 : 15
Equation number 16 : 0.19273 : 16
Equation number 17 : 0.15151 : 17
Equation number 18 : -1.0607 : 18
Equation number 19 : 0.85296 : 19
Equation number 20 : -0.097529 : r_m
Equation number 21 : 0.0005 : r_bh
Equation number 22 : 0.0001 : r_bE
Equation number 23 : -1.0019 : 23
Equation number 24 : -0.016703 : 24
Equation number 25 : 2.0061 : 25

错误使用 print_info (第 32 行)
Impossible to find the steady state (the sum of square residuals of the static equations is 375.0218). 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

出错 steady (第 102 行)
print_info(info,options_.noprint, options_);

出错 sample2.driver (第 413 行)
steady;

出错 dynare (第 293 行)
evalin(‘base’,[fname ‘.driver’]) ;

I have 2 questions:
1.Some residuals are too large, why do this happen? How to make it near 0?
2.What the errors mean? How to solve this problem?

Thanks a lot! :grinning:
sample2.mod (2.7 KB)

2

How did you get your initial values? It can be really tricky getting good starting values, and thus making it work with this method.

3

So the key to solving the smaller residual is to find a suitable initial value, how to find it? How to solve the error in print_info (line 32)? Looking forward to your reply, thank you very much! :grinning_face_with_smiling_eyes:

4

For starters, only do the exp()-substitution once the model works.

5

Thanks a lot. And I want to know where is the problem? The model is wrong or the initial value is wrong?