Dear professor,
I’m trying to find a steady state for Christiano, Lawrence J. & Trabandt, Mathias & Walentin, Karl, 2010. “DSGE Models for Monetary Policy Analysis,” Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 7,
pages 285-367. However I get the following message:
Residuals of the static equations:
Equation number 1 : 0 : FOC consumption
Equation number 2 : -0.15132 : FOC labor hours
Equation number 3 : 0 : Euler equation
Equation number 4 : 0 : FOC of H and I
Equation number 5 : 0 : marginal cost
Equation number 6 : 0 : X1
Equation number 7 : 0 : X2
Equation number 8 : 0 : ptilt
Equation number 9 : 0 : 9
Equation number 10 : 0 : pstar
Equation number 11 : 0 : y
Equation number 12 : 0 : 12
Equation number 13 : 0 : 13
Equation number 14 : 0.0006569 : Taylor Rule
Error using print_info (line 32)
The steadystate file did not compute the steady state
After checking every equation in model and steady_state_model, I still haven’t solve this problem. I hope to get the guidance on how to find the method.
Thank you in advance!!
nk_baseline.mod (4.3 KB)