Residuals of static equation neq 0

Steady state
1

Hello Professors,

I am trying to run this model in dynare but every time I try to run it it gives the following error message:

Residuals of the static equations:

Equation number 1 : 0 : 1
Equation number 2 : 0 : CR
Equation number 3 : 0 : K
Equation number 4 : 0 : Div
Equation number 5 : 0 : CNR
Equation number 6 : 0 : C
Equation number 7 : 3.7103 : Y
Equation number 8 : 0 : W
Equation number 9 : 0 : L
Equation number 10 : 0 : 10
Equation number 11 : 9.3301 : T
Equation number 12 : 0 : G
Equation number 13 : 0 : IG
Equation number 14 : 0 : Tr
Equation number 15 : 0 : Pn
Equation number 16 : 0 : KG
Equation number 17 : 1.4521 : 17
Equation number 18 : 0 : zetaa
Equation number 19 : 0 : zetab
Equation number 20 : 0 : Delta

Error using print_info (line 32)
The steadystate file did not compute the steady state

Error in steady (line 102)
print_info(info,options_.noprint, options_);

Error in OTT.driver (line 321)
steady;

Error in dynare (line 293)
evalin(‘base’,[fname ‘.driver’]) ;

Some people have asked similar questions here, and you proposed to use “steady(solve_algo=,maxit=)”. I tried to do some, but nothing new.

I need a help please.
Thanks,

I have attached the code OTT.mod (2.7 KB)

2

Your analytical steady state does not solve the model. So either the model equations or the steady state are wrong. If you use initval, you will get the model to find a steady state
You also seem to be missing

predetermined_variables K KG;

OTT.mod (2.7 KB)

1 Like
3

Thank You Professor @jpfeifer ,
I think that the problem comes from an approximation I used to analytically solve the model. Thus, the steady-state model block is only an approximation to the model equilibrium.
Sincirely