If I directly perform logarithmic linearization on the model, the steady states of the linearized variables will all become 0; however, the coefficients in some equations will contain the steady-state values of the original nonlinear model variables. Can I directly calibrate these variable steady-st…

Log linearization problem

jpfeifer 7 March 2024 07:57 2

Yes, see

Can nonlinear equations use the steady-state values set by linear equations? Steady state

No, you cannot do that. The model steady state is a function of the structural parameters. If you put in an arbitrary number, this number will be inconsistent with the parameters of the model.

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