I passed the first step, it (almost) runs. I have one more question (problem)…

Imposing (with bc=0):

[quote]planner_objective(ln(c-bc*clag) - (1/(1+sigmal))*lh^(1+sigmal));

ramsey_policy(planner_discount=1,order=1,irf=30) y R c pip;

[/quote]

I have the following error message now:

[quote]??? Function ‘mtimes’ is not defined for values of class ‘logical’.

Error in ==> mtimes at 18

[varargout{1:nargout}] = builtin(‘mtimes’, varargin{:});

Error in ==> dr1 at 127

info(2) = check1’*check1;

Error in ==> resol at 128

[dr,info,M_,options_,oo_] = dr1(dr,check_flag,M_,options_,oo_);

Error in ==> stoch_simul at 42

[oo_.dr, info] = resol(oo_.steady_state,0);

Error in ==> ramsey_policy at 25

info = stoch_simul(var_list);

Error in ==> model_FA_NL_ZLB1 at 585

ramsey_policy(var_list_);

Error in ==> dynare at 132

evalin(‘base’,fname) ;

[/quote]

The model runs perfectly when I compute the IRFs (stoch_simul). I computed the s.s analytically and dynare is able to compute it when I use steady; (for a given taylor rule)

I seems that Dynare is not able to compute the s.s when I ask him to compute the Ramsey optimal policy (I removed the taylor rule from the model). I tried with different calibrations, discount factor and objective function, I still have this error message.

I enclose again the codes if you want to run it (first, ‘dynare ParamValue’ and second 'dynare model_FA_NL_ZLB1). Do you have any clue about what’s going on? Sorry about pointing out all these problems…

Thanks!

best,

ParamValue.m (20 KB)

model_FA_NL_ZLB1.mod (6.76 KB)