Optimal Ramsey policy problem

FMSxiao2cd.mod (2.8 KB)
FMSxiao2cd_ss.m (2.2 KB)
FMSxiao2cd_steadystate.m (1.5 KB)
param_xiao2c.m (977 Bytes)
Dear professor,
I am doing a optimal Ramsey monetary policy model. The model reports the error that “The steadystate file did not compute the steady state”. However, all the variable’s steady state has been calculated out. It has passed the “steady” check, and if I remove the Ramsey command and use the “stoch_simul” command, It could run well. I don’t know the reason, could you help me to figure it out, thanks.

Your steady state file needs to be conditional on the instrument. You hardcode R=1/beta despite the planner choosing R.

So what should I do? Should I express the variable’s steady state as R? How to realize it? I am still confused, could you help me to modify it.

See Ramsey: multipliers NaN - #8 by jpfeifer