Ramsey policy: planner_discount initialized

Optimal Policy
1

Hello,
I am trying to run a discretionary policy, however I got this error:
“Either you have not correctly initialized planner_discount or you are calling a command like steady or stoch_simul that is not allowed in the context of ramsey_policy”
Could you please help me to solve it?optimal.mod (36.4 KB)

2
  1. You are not using Ramsey, you are using discretionary_policy. It is not compatible with steady.
  2. You have left out two equations, but there is only one instrument provided.
3

Thanks a lot for the reply. I corrected the last version, but now I still have an errorOptimal_policy.mod (37.0 KB) Could you please have a look?