Impossible to find the steady state (the sum of squared residuals of the static equations is 71.7826). 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

Steady state
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ec5991.mod (6.5 KB)
Does this mean that I need a separate m file for computing the steady state? Apart from that, is there any outher solutions ?

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Yes, most likely. Your model contains the price level instead of inflation. The former typically has a unit root, preventing the numerical computation of a steady state.