Perfect foresight model failed

Hi, I’m new to dynare and trying to use dynare to solve a deterministic model. However I faced a problem. Please help.

Simulation of the perfect foresight model failed!Switching to a homotopy method…
Homotopy not implemented for purely backward models!
Failed to solve the model!
Return with empty oo_.endo_simul.

period60906.mod (3.8 KB)

Your model does not feature forward-looking variables and therefore is purely backward looking. Is that intended? The problem seems to be that the model does not satisfy the Blanchard-Kahn conditions and is explosive.

Thank you for advice. But my model failed to simulation. Am I not reflecting your advice properly? How to solve this problem?
period60909.mod (3.8 KB)

See e.g.