It’s my first time using Dynare. I’m attempting to do an extension of the New Keynesian model.
I can solve the base model, but when I add in my parameters and new equations in the model, I receive the following errors:
There are 3 eigenvalue(s) larger than 1 in modulus
for 4 forward-looking variable(s)
The rank condition ISN’T verified!
Randomize initial guess…
Error using print_info (line 32)
Blanchard & Kahn conditions are not satisfied: indeterminacy.
Error in stoch_simul (line 107)
print_info(info, options_.noprint, options_);
Error in NKPlus.driver (line 293)
[info, oo_, options_, M_] = stoch_simul(M_, options_, oo_, var_list_);
Error in dynare (line 293)
evalin(‘base’,[fname ‘.driver’]) ;
How can I get help with debugging?