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)