Hi, I understand calculating steady state requires art and luck. But is there anything I can do to improve the attached model to enhance my chance of reaching a steady state? Below seems the closest result I can get after numerous tries of initial values and parameters. Any advice would be much appreciated.

SOLVE: Iteration 11745

Spurious convergence.

0.0375

0.0274

1.0152

-0.0519

1.3113

0.6542

-0.5938

-0.6199

1.2337

1.4565

-1.2521

-0.0074

0.1131

0.5540

0.0087

-0.0734

-0.0000

0.0003

-0.0034

0.0308

0.0019

1.0429

1.1198

-3.2572

1.0000

0.1194

-0.0201

0

0

-0.5625

Residuals of the static equations:

Equation number 1 : -6.3667e-05

Equation number 2 : -0.038342

Equation number 3 : -0.023092

Equation number 4 : -0.00020226

Equation number 5 : -0.0093687

Equation number 6 : -0.0014208

Equation number 7 : -0.0082218

Equation number 8 : 0

Equation number 9 : 0

Equation number 10 : -0.00015816

Equation number 11 : -0.0088415

Equation number 12 : -0.0048723

Equation number 13 : -0.0029257

Equation number 14 : 0.093776

Equation number 15 : -0.014007

Equation number 16 : -0.0022533

Equation number 17 : 0.00091766

Equation number 18 : -0.10853

Equation number 19 : -0.002195

Equation number 20 : -0.0083212

Equation number 21 : 0.00043992

Equation number 22 : -0.073357

Equation number 23 : 0.0067228

Equation number 24 : 0.0012881

Equation number 25 : -0.00166

Equation number 26 : 0.020638

Equation number 27 : -0.0060324

Equation number 28 : 0

Equation number 29 : 0

Equation number 30 : 0

Error print_info (line 74)

Impossible to find the steady state. 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 steady (line 92)

print_info(info,options_.noprint, options_);

Error modelclean (line 395)

steady;

Error dynare (line 180)

evalin(‘base’,fname) ;

modelclean.mod (5.42 KB)