when I use dynare’s command, ‘steady’ in Matlab, the computation is terminated at maximum iteration=500. can you tell me how to increase this maximum number of iteration?

I will check but I don’t think that I had put a way of doing it

Very likely if you need that more iteration won’t help and that Dynare can just

not find the solution either because there is none of because the initial guess values are too far from the solution.

The best is to start with a smaller model for which you know the solution and had equations/variables one at the time

Best

Michel