Dear all;
I established a DSGE model of heterogeneous household consumption and housing. But I was in trouble. The model always showed that the steady-state value could not be found.
I don’t know whether there is a problem with the log linearization of the equilibrium formula in the “mode(linear)” module or the problem with the first parameter setting.
The following are the results of the model run.
STEADY-STATE RESULTS:
c -0.208072
c_s 0.0950922
h_s 0.0950922
N_s -0.013406
B_s 1.13798
c_r -0.843344
h_r 3.79882
N_r 0.708468
B_r 3.6011
lambda2_r 3.27056
c_e 0.54018
h_e -0.762518
B_e -0.96024
lambda3_e 2.31978
h 0
A -7.08371e-17
theta 0
r 0.125975
rL 0.323697
pi 0.125975
p 0
Y 0.0629877
X -0.0146768
I 0.0047931
K 0.191724
kappar 0
T 3.0363
tau 0
There are 10 eigenvalue(s) larger than 1 in modulus
for 8 forward-looking variable(s)
The rank condition ISN’T verified!
MODEL_DIAGNOSTICS: No obvious problems with this mod-file were detected.
错误使用 print_info (line 32)
Blanchard & Kahn conditions are not satisfied: no stable equilibrium.
出错 stoch_simul (line 107)
print_info(info, options_.noprint, options_);
出错 model_linear.driver (line 480)
[info, oo_, options_, M_] = stoch_simul(M_, options_, oo_, var_list_);
出错 dynare (line 293)
evalin(‘base’,[fname ‘.driver’]) ;
The following is the mod file and the formula sub results
model_linear.mod (3.5 KB)