Help Impossible to find the steady state

Steady state
1

Hi everyone,

I’m currently working on my thesis and have encountered a persistent error when trying to run my Dynare model. The error message I receive is as follows:

Error using print_info
Impossible to find the steady state (the sum of square residuals of the static equations is 1.0272). 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.

Error in check (line 48)
print_info(info, 0, options);

Error in tesis.driver (line 586)
oo_.dr.eigval = check(M_,options_,oo_);

Error in dynare (line 278)
evalin(‘base’,[fname ‘.driver’]);
tesis.m (2.8 KB)
tesis.mod (7.3 KB)
tesis_steady.m (3.3 KB)
TesisStateCalib.m (3.5 KB)

Error in tesis (line 87)
dynare tesis.mod

2

You need to carefully debug your steady state starting values based on the depicted residuals when calling resid before any other command. You will see that e.g. k_nt= 0.0057 cannot be correct.