Dear professor, I’ve been struggling to run the attached mod-file of a RBC-model thesis.mod (4.7 KB).

The error message is the following:

“error: Impossible to find the steady state (the sum of square residuals

of the static equations is 0.0035). Either the model doesn’t have a stea

dy state, there are an infinity of steady states, or the guess values ar

e too far from the solution”

my residuals of the static equations are not equal to zero, I figured that might be the problem but I’m not sure how to solve this (I am quite new at dynare)

㡣̀Residuals of the static equations:

Equation number 1 : 0 : lambda

Equation number 2 : -0.81601 : phi

Equation number 3 : 1.9704 : 3

Equation number 4 : 0 : r

Equation number 5 : 0.21041 : k

Equation number 6 : 0.09115 : kbar

Equation number 7 : 0.086102 : w_f

Equation number 8 : 0 : w_m

Equation number 9 : 0 : y

Equation number 10 : 0 : l

Equation number 11 : 0 : 11

Equation number 12 : 0 : 12

Equation number 13 : 0 : 13

Equation number 14 : 0 : 14

Equation number 15 : 0 : 15

Equation number 16 : 0 : 16

Equation number 17 : 0 : z

Equation number 18 : 0 : 18

Equation number 19 : 0 : 19

Equation number 20 : 0 : 20

Equation number 21 : 0 : 21

Equation number 22 : 0 : 22

Equation number 23 : 0 : 23

Equation number 24 : 0 : 24

Equation number 25 : 0 : pfi_f

Equation number 26 : 0.43894 : 26

Residuals of the static equations:

Equation number 1 : -0.04019 : lambda

Equation number 2 : -0.013701 : phi

Equation number 3 : 0.035368 : 3

Equation number 4 : 0.0009016 : r

Equation number 5 : 0.0060256 : k

Equation number 6 : 0.001104 : kbar

Equation number 7 : 0.0029137 : w_f

Equation number 8 : -0.00037711 : w_m

Equation number 9 : -0.013041 : y

Equation number 10 : 0.00089867 : l

Equation number 11 : -0.00070889 : 11

Equation number 12 : -0.003228 : 12

Equation number 13 : 0.0013292 : 13

Equation number 14 : 0.014034 : 14

Equation number 15 : 0 : 15

Equation number 16 : 0 : 16

Equation number 17 : 0 : z

Equation number 18 : 0 : 18

Equation number 19 : 0 : 19

Equation number 20 : 0 : 20

Equation number 21 : 0 : 21

Equation number 22 : 0 : 22

Equation number 23 : 0 : 23

Equation number 24 : 0 : 24

Equation number 25 : 0 : pfi_f

Equation number 26 : 0 : 26