I am a Dynare beginner.
I am now replicating Chang, Liu, Spiegel (2015) DSGE analysis part. I used fsolve compute the steady-state values and then put these values into my dynare mod(BM1012.mod). However, there were some error massages as follows, I already check my equations and coding countless times but still confused to find my problem. Could you look through my steady state files and mod. files then give any suggestions.
Thank you in advance.
Error using print_info (line 83)
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 in steady (line 104)
Thank you Prof.Pfeifer for your reply. Since the dynare generally hard to get steady state value, especially for complex models, hence I used Matlab fslove option to solve my non-linear steady state equations.
Thank you for reminding, I should have used steady state file.
I will try again, hope everything goes well!
I have very stupid question that I got my NEW steady state values by fsolve ( I used the same way that I uploaded ) . But now really confused how can I transfer my these steady state values to my dynare mod file. You said I should use steady state file but I am not that familiar how to write the steady state file. Could give me any guidance? Sorry for my very basic and stupid question.
Sorry for disturbing you again. I used the steady state file and call my fslove . But when run my dynare there was error massage like as follows:
Could you simply look through my steady state file？ I am not sure whether my logic is right. Great Thanks!
Not enough input arguments.
Error in beta (line 19) y = exp(betaln(z,w));
Error in yyc_steadystate (line 59) R =1/beta;
Error in evaluate_steady_state_file (line 52)
_ [ys,check] = h_steadystate(ys_init, exo_ss);_
I just double checked and fix the error . However, now I get following residual reports, does it mean my steady state variables not correct? But I checked my steady state equations again, I am sure there is no any mistakes… Could you give me any suggestions? I am really struggling about this step…
Residuals of the static equations:
Equation number 1 : 0 Equation number 2 : 0 Equation number 3 : 0 Equation number 4 : 0 Equation number 5 : 0 Equation number 6 : 0.019008 Equation number 7 : 0.00015209 Equation number 8 : -0.031477 Equation number 9 : 0.0039469 Equation number 10 : 0.0012842 Equation number 11 : 0.0040229 Equation number 12 : -0.031048 Equation number 13 : 0.030982 Equation number 14 : -3.4061e-07 Equation number 15 : -0.00010355 Equation number 16 : 0.0045049 Equation number 17 : 0.015515 Equation number 18 : -0.001167 Equation number 19 : 0.015468 Equation number 20 : 0 Equation number 21 : 0 Equation number 22 : 0
Error using print_info (line 76) The steadystate file did not compute the steady state
Error in steady (line 104)
_ print_info(info,options_.noprint, options_);_
This means your model equations and the steady state computation do not match. Thus, either there is still a mistake in the model equations or the model equations are wrong. Given the many residuals, there should be at least one mistake in the steady state computations.