Residuals of the static equations not showing name

Steady state
1

Hi,
My equation 1 is ‘y’ but when I am checking the residuals, instead of ‘y’ it is showing “1”. I was wondering if this is a problem.

Residuals of the static equations:

Equation number 1 : 0 : 1
Equation number 2 : 0 : i
Equation number 3 : 0 : pi
Equation number 4 : 0 : y_nat
Equation number 5 : 0 : y_gap
Equation number 6 : 0 : y_hat
Equation number 7 : 0 : y
Equation number 8 : 0 : r_real
Equation number 9 : 0 : r_real_ann
Equation number 10 : 0 : m_growth_ann
Equation number 11 : 0 : pi_ann
Equation number 12 : 0 : z
Equation number 13 : 0 : nu
Equation number 14 : 0 : a
Equation number 15 : 0 : g
Equation number 16 : 0 : dy
Equation number 17 : 0 : pinfobs
Equation number 18 : 0 : robs

Thank you

Best Regards
Sahil

2

I would need to see the file.

3

Thank you for replying. Here are the files. us_data.mat (11.6 KB) woodford.mod (3.0 KB)

4

You are relying on automatic equation numbering instead of using your own tags. This comes with limitations. Your first equation has

y_gap-g

on the left-hand side. If if were just y_gap, Dynare would use that for the tag. I would recommend using

[name='y']

to label the equation.

5

Dear jpfeifer

I updated the model us_data.mat (11.6 KB) woodford.mod (3.0 KB) and it is not working now. Could you please help?

Best Regards
Sahil

6

Before estimating the model, make sure simulations work. Are you sure about your timing?

v(+1)=gama*v_est+(1-gama)*v;

for example looks strange.

7

Thank you for your reply.
I already have figured that mistake. I have made the equations governing v and v_tilda lagged back a period so that they are state variables rather than forward-looking variables. My model is working now.

Thank you

Best
Sahil