Problems about steady state calculation，resid: The initial values for the steady state of the following variables are complex:
c_t
lambda_t
k_t
B_t
i_t
x1_t
x2_t
y_t
wk_t
g_t
tau_t
maincode.mod (20.4 KB)
and If I use the command (steady;) to solve the steady state value, I can’t find the model steady state,really hope anyone can help me！thanks a lot!
In
ws = (1 - alpha) * (alpha^alpha*mcs / zs^alpha)^(1/(1-alpha)) ; %Çó³öws;
the zs is negative, resulting in complex values. Use F9 in Matlab to sequentially execute the parameter settings to see this.
Dear Professor J.Pfeifer,
thanks a lot for your reply. I have modified the parameter calibration value according to your suggestion, I use an external m file to solve the steady state value，after running, “There are 12 eigenvalue(s) larger than 1 in modulus for 11 forward-looking variable(s)” and “Blanchard Kahn conditions are not satisfied: no stable equilibrium” appears. Looking forward to your reply, thank you in advance!
Sincerely yours,
Lone
maincodea (2).zip (20.7 KB)
Did you check different parameterizations of e.g. your fiscal rule? Your model does not have a stable solution, so maybe debt is explosive. The other hint, as always: recheck your timing.