I am trying the replicate Smets-Wouters(2003) paper.
I was first trying to solve the model for calibrated parameters before undertaking estimation. But I have already errors(below). Thank you in advance for anyone who will help me. Cyril
Using 64-bit preprocessor
Starting Dynare (version 4.5.6).
Starting preprocessing of the model file …
Substitution of exo leads: added 1 auxiliary variables and equations.
Found 32 equation(s).
Computing static model derivatives:
- order 1
Computing dynamic model derivatives:
- order 1
- order 2
Processing outputs …
Warning: Matrix is singular to working precision.
In evaluate_steady_state at 263
In resol at 104
In stoch_simul at 89
In EuroCalib at 409
In dynare at 235
Error using print_info (line 90)
The steady state contains NaN or Inf
Error in stoch_simul (line 100)
print_info(info, options_.noprint, options_);
Error in EuroCalib (line 409)
info = stoch_simul(var_list_);
Error in dynare (line 235)
EuroCalib.mod (5.6 KB)