Dear Sir

Thank you for your reply. However, when I am coding these parameters in steady state model (as you did) , the dynare is giving me Waring as

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MODEL_DIAGNOSTICS: The Jacobian of the static model contains Inf or NaN. The problem arises from:

Derivative of Equation 15 with respect to Variable ygap (initial value of ygap: 0)

Derivative of Equation 15 with respect to Variable wgap (initial value of wgap: 0)

Derivative of Equation 40 with respect to Variable wgap (initial value of wgap: 0)

Derivative of Equation 13 with respect to Variable wigap (initial value of wigap: 0)

Derivative of Equation 14 with respect to Variable wigap (initial value of wigap: 0)

Derivative of Equation 16 with respect to Variable wigap (initial value of wigap: 0)

Derivative of Equation 20 with respect to Variable wigap (initial value of wigap: 0)

Derivative of Equation 13 with respect to Variable wegap (initial value of wegap: 0)

Derivative of Equation 14 with respect to Variable wegap (initial value of wegap: 0)

Derivative of Equation 17 with respect to Variable wegap (initial value of wegap: 0)

Derivative of Equation 20 with respect to Variable wegap (initial value of wegap: 0)

Derivative of Equation 40 with respect to Variable wegap (initial value of wegap: 0)

Derivative of Equation 15 with respect to Variable sgap (initial value of sgap: 0)

Derivative of Equation 16 with respect to Variable cigap (initial value of cigap: 0)

Derivative of Equation 17 with respect to Variable cegap (initial value of cegap: 0)

Derivative of Equation 16 with respect to Variable nigap (initial value of nigap: 0)

Derivative of Equation 38 with respect to Variable nigap (initial value of nigap: 0)

Derivative of Equation 17 with respect to Variable negap (initial value of negap: 0)

Derivative of Equation 38 with respect to Variable negap (initial value of negap: 0)

MODEL_DIAGNOSTICS: The problem most often occurs, because a variable with

MODEL_DIAGNOSTICS: exponent smaller than 1 has been initialized to 0. Taking the derivative

MODEL_DIAGNOSTICS: and evaluating it at the steady state then results in a division by 0.

MODEL_DIAGNOSTICS: If you are using model-local variables (# operator), check their values as well.

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No such warning is coming if I have model parameters as parameters or as local variables.

At the same time the optimal value is still not same as when I am running them individually.

Can you please help me this.

Thanks in advance.