Dear professor，
I am running a model recently but with the following error：
Impossible to find the steady state (the sum of square residuals of the
static equations is 0.1747). 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
出错 dynare_estimation_init (line 619)
print_info(info, 0, options_);
出错 dynare_estimation_1 (line 110)
dynare_estimation_init(var_list_, dname, [], M_, options_, oo_,
estim_params_, bayestopt_);
出错 dynare_estimation (line 118)
dynare_estimation_1(var_list,dname);
出错 ac.driver (line 612)
oo_recursive_=dynare_estimation(var_list_);
出错 dynare (line 281)
evalin(‘base’,[fname ‘.driver’]);
Here is my file
ac.mod (4.2 KB)
hope you can help me！
Residuals of the static equations:
Equation number 1 : 5.889e-06 : 1
Equation number 2 : 0 : 2
Equation number 3 : -1.1224e-06 : WS
Equation number 4 : 2.1082e-06 : H1
Equation number 5 : 2.1304e-06 : H2
Equation number 6 : 0 : 6
Equation number 7 : 0 : 7
Equation number 8 : -1.5203e-07 : Y
Equation number 9 : 2.9333e-07 : Rk
Equation number 10 : -1.0848e-06 : W
Equation number 11 : 8.9333e-07 : pis
Equation number 12 : -7.1471e-07 : x1
Equation number 13 : 5.556e-07 : x2
Equation number 14 : -4e-06 : Re
Equation number 15 : 0 : K
Equation number 16 : 0 : 16
Equation number 17 : -8.5372e-06 : Leverage
Equation number 18 : -3.3095e-06 : 18
Equation number 19 : 1.0943e-05 : 19
Equation number 20 : 1.6632e-06 : SP
Equation number 21 : 0 : V
Equation number 22 : 0 : S
Equation number 23 : 0 : D
Equation number 24 : 0 : G
Equation number 25 : -9.5449e-08 : 25
Equation number 26 : 0 : b
Equation number 27 : 0 : vp
Equation number 28 : 0 : 28
Equation number 29 : 0 : 29
Equation number 30 : -1.2e-06 : 30
Equation number 31 : 0 : 31
Equation number 32 : 0 : 32
Equation number 33 : -6.5e-07 : 33
Equation number 34 : -6.7755e-08 : F
Equation number 35 : 0 : Gl
Equation number 36 : -7.8651e-07 : GAMMA
Equation number 37 : -6.7755e-08 : Fpl
Equation number 38 : 0 : Gpl
Equation number 39 : -7.8651e-07 : GAMMApl
Equation number 40 : -1.1256e-06 : dFpl
In Dynare 5.1 the file ac.mod (4.2 KB)
runs with
STEADY-STATE RESULTS:
C 0.169808
Rd 1.3468
pi 1
B 0.00287238
J 1
D 0.00301496
WS 0.451769
W 0.451769
H1 2.16482
H2 5.85672
N 0.256088
pis 1
A 1
K 0.160684
vp 1
Rk 0.387694
mc 0.818182
x1 4.07059
x2 4.97517
Y 0.217542
Re 1.36269
q 1
I 0.00401709
Leverage 2.21252
V 0.0726246
omegabar 0.543154
b 0.00287238
SP 1.0118
S 0.0726246
G 0.0435084
g 0.2
h 0.000999988
sigma 0.25
F 0.0102668
Gl 0.00513724
GAMMA 0.542714
Fpl 0.0102668
Gpl 0.00513724
GAMMApl 0.542714
dFpl 0.200838
Professor, I use these steady-state results. But the steady state at the initial parameters cannot be computed. And impossible to find the steady state. Could you please help me to see what is the problem?
Are you using Dynare 5.1 with Matlab?
Yes, I use Dynare5.1 with Matlab
Professor, this is the result of my run
Starting Dynare (version 5.1).
Calling Dynare with arguments: none
Starting preprocessing of the model file …
Found 40 equation(s).
Evaluating expressions…done
Computing static model derivatives (order 1).
Computing dynamic model derivatives (order 2).
Processing outputs …
done
Preprocessing completed.
Residuals of the static equations:
Equation number 1 : 5.889e-06 : 1
Equation number 2 : 0 : 2
Equation number 3 : -1.1224e-06 : WS
Equation number 4 : 2.1082e-06 : H1
Equation number 5 : 2.1304e-06 : H2
Equation number 6 : 0 : 6
Equation number 7 : 0 : 7
Equation number 8 : -1.5203e-07 : Y
Equation number 9 : 2.9333e-07 : Rk
Equation number 10 : -1.0848e-06 : W
Equation number 11 : 8.9333e-07 : pis
Equation number 12 : -7.1471e-07 : x1
Equation number 13 : 5.556e-07 : x2
Equation number 14 : -4e-06 : Re
Equation number 15 : 0 : K
Equation number 16 : 0 : 16
Equation number 17 : -8.5372e-06 : Leverage
Equation number 18 : -3.3095e-06 : 18
Equation number 19 : 1.0943e-05 : 19
Equation number 20 : 1.6632e-06 : SP
Equation number 21 : 0 : V
Equation number 22 : 0 : S
Equation number 23 : 0 : D
Equation number 24 : 0 : G
Equation number 25 : -9.5449e-08 : 25
Equation number 26 : 0 : b
Equation number 27 : 0 : vp
Equation number 28 : 0 : 28
Equation number 29 : 0 : 29
Equation number 30 : -1.2e-06 : 30
Equation number 31 : 0 : 31
Equation number 32 : 0 : 32
Equation number 33 : -6.5e-07 : 33
Equation number 34 : -6.7755e-08 : F
Equation number 35 : 0 : Gl
Equation number 36 : -7.8651e-07 : GAMMA
Equation number 37 : -6.7755e-08 : Fpl
Equation number 38 : 0 : Gpl
Equation number 39 : -7.8651e-07 : GAMMApl
Equation number 40 : -1.1256e-06 : dFpl
EIGENVALUES:
Modulus Real Imaginary
3.377e-16 -3.377e-16 0
1.669e-15 1.669e-15 0
2.306e-15 2.306e-15 0
4.902e-15 -4.902e-15 0
0.0007807 0.0007807 0
0.436 0.436 0
0.7101 0.7101 0
0.7445 0.7445 0
0.9 0.9 0
0.9 0.9 0
0.9 0.9 0
0.9 0.9 0
0.9 0.9 0
0.901 0.8935 0.1159
0.901 0.8935 -0.1159
1.079 1.079 0
1.087 1.052 0.2723
1.087 1.052 -0.2723
1.242 1.242 0
1.347 1.347 0
1.347 1.347 0
1.366 1.358 0.1441
1.366 1.358 -0.1441
2.477 2.477 0
6.106e+17 -6.106e+17 0
2.378e+18 -2.378e+18 0
2.066e+19 -2.066e+19 0
8.381e+19 8.381e+19 0
There are 13 eigenvalue(s) larger than 1 in modulus
for 13 forward-looking variable(s)
The rank condition is verified.
STEADY-STATE RESULTS:
C 0.169808
Rd 1.3468
pi 1
B 0.00287238
J 1
D 0.00301496
WS 0.451769
W 0.451769
H1 2.16482
H2 5.85672
N 0.256088
pis 1
A 1
K 0.160684
vp 1
Rk 0.387694
mc 0.818182
x1 4.07059
x2 4.97517
Y 0.217542
Re 1.36269
q 1
I 0.00401709
Leverage 2.21252
V 0.0726246
omegabar 0.543154
b 0.00287238
SP 1.0118
S 0.0726246
G 0.0435084
g 0.2
h 0.000999988
sigma 0.25
F 0.0102668
Gl 0.00513724
GAMMA 0.542714
Fpl 0.0102668
Gpl 0.00513724
GAMMApl 0.542714
dFpl 0.200838
dynare_estimation_init:: The steady state at the initial parameters cannot be computed.
错误使用 print_info (line 32)
Impossible to find the steady state (the sum of square residuals of the
static equations is 0.1747). 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
出错 dynare_estimation_init (line 619)
print_info(info, 0, options_);
出错 dynare_estimation_1 (line 110)
dynare_estimation_init(var_list_, dname, [], M_, options_, oo_,
estim_params_, bayestopt_);
出错 dynare_estimation (line 118)
dynare_estimation_1(var_list,dname);
出错 ac.driver (line 612)
oo_recursive_=dynare_estimation(var_list_);
出错 dynare (line 281)
evalin(‘base’,[fname ‘.driver’]);
But that’s in estimation. For large models where you will sample from a large parameter space you will almost always need to provide an analytical steady state.