Hi

I am new to Dynare and would like to run my model. But whenever I run it, I run into an error message.

I feel like there must be an issue with equations 3, 8, 9, 10 but don’t figure out how to fix it. Using Matlab, I exogenously gave random values for Yb and Yl (each is 30), and numerically found values of Cb, Cl, Hb and Hl (Hb and Hl are predetermined). I borrowed values of parameters from other literature.

I think I found steady-state values for initval, so I don’t understand how and where the message comes from. What should I check more?

I would appreciate it if you could tell me what my problem is and suggest any alternative ways.

trial.mod (2.2 KB)

See

Thanks for your reply, professor.

I will try again.