@MichelleHuang You want to do a grid search instead of running an optimizer. And I was recommending here to use the simult_-function, not to run the full get_consumption_equivalent_conditional_welfare.m as the question is not for the consumption equivalent.
- As outlined in Loop over parameters to find maximized welfare, the formula relying on
oo_.dr.ghs2is only valid in the deterministic steady state, while thesimult_-function can be used for any point you like. As you are interested in conditional welfare in the deterministic steady state, both should give the same answer. - You need to investigate why the moments in
oo_.varareNaN. Those are the unconditional moments and they should exist. The question whether you are considering conditional welfare does not alter the fact that we are interested in the unconditional second moments.