Hi,
adding ‘resid’ after steady provides residuals in each equations. If steady state is not found, some equations will have non zero residuals. My question is, how to adjust our initial (guessed) steady state values according to informations provided by ‘resid’?
For example, after adding “resid”, the output shows:
Equation number 1 : 0
Equation number 2 : 0
Equation number 3 : 0
Equation number 4 : 0
Equation number 5 : 0.028057
Error using print_info (line 57)
Impossible to find the steady state. Either the model doesn’t have a unique
steady state of the guess values are too far from the solution
Based on this information, it seems some guessed initial steady state value is not correct or far from the solution, but how do we know which variable it is and should we adjust it upwards or downwards? Thank you.