Initial value NaN although initval block used


I am facing this error where the initial values of some my of variables are NaN. Why does this arise, when I have specified the initial values (which I am confident are not equal to NaN) in the initval block? I attach my mod file here just in case.

I was trying to refer to Basu and Bundick’s 2017 Uncertainty Shocks in a Model of Effective Demand, and also Pfeifer’s replication codes for the paper: the former does not have a steady state file while the latter does. Is there something wrong with my initval, and perhaps I should create my own steady state file? What is the best way to proceed, when I do not want to log linearize my equations by hand?
shadow.mod (7.8 KB)


In your case pibar in Rbar = pibar/beta; was not defined.