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.
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)