Hi, I tried to play with a very simple model in dynare (see attached). I can solve it by specifying the initial values, but when I tried to use steady_state_model, it won’t give me the solution. It keeps telling me “The steadystate file did not compute the steady state”. Here’s the dynare code: a…

exp(c)^(sigma)=beta*exp(c(+1))^(-sigma)*(1+exp(r)); is wrong. There is a minus in the exponent missing.

Thank you so much! Prof. Pfeifer! I really appreciate your help!

Hi I am replicating the open economy model with money (chapter 13. The ABCs of RBCs) and encountering similar error message “The steadystate file did not compute the steady state” Any guide to tackle the problem would be much appreciated. OEM.mod (2.2 KB)

See [image] How to Solve this problem as the picture Shows Steady state Only do the exp()-substitution once the model works. You may want to go for auxiliary variables, see option 3 in Question about understanding irfs in dynare Your xss is negative for some reason. …

Hi Prof. Pfeifer Many thanks. As advised, I used the variable in level not in exp(). But, unfortunately, I received the same error. However, the model runs with initvals? I have uploaded the edited .mod file. I often encounter this problem i.e. model run with initval but not with steady state mode…

I don’t have access to the book chapter, so I cannot check the implementation.

Hi I have uploaded here scanned pages of relevant section. Could you please take a look it and guide me to resolve the issue? Thank you Saidul Chapter 13-ABCsofRBCs.pdf (2.5 MB)

The problem is M/P. See DSGE_mod/McCandless_2008_Chapter_13.mod at master · JohannesPfeifer/DSGE_mod · GitHub

Hi Prof. Pfeifer Great, thank you so much! There was one more typo in the steady state equation for labor. Best Saidul

Hi, I could find the steady state of my model analytically (with the assumption of L=1/3 for each agent) and the model works properly in Dynare. However, when I use the steady state numbers as initial values in the initval section, Dynare cannot find steady state and it gives lots of Nan and Inf. W…

But you are not doing that. The steady state displayed in the one file differs greatly from the values in the initval-block.

Initval vs steady_state_model: The steadystate file did not compute the steady state

Steady state

jpfeifer 17 May 2023 20:22 15

Please do not double-post. See my reply at