I’m so sorry for posing the question, but i’m a rookie in dsge modelling and i try to implement Röhe model (2012) in dynare, but i can’t cope with this issue. I can’t find the model solution fron 3rd chapter. I write down a steadystate_model, but dynare answers that stadystate_model don’t compute steady state. I will be very grateful for the help in it. roehe.pdf (909.8 KB)
example2.mod (2.9 KB)
I would recommend using Dynare’s \LaTeX capabilities to speed up debugging. There must be a mistake somewhere (it may even be in the original paper).
Thank you, prof. Pfeifer.
I noticed some of my mistakes in the model specification, and corrected them. However, it doesn’t work.
Then please follow my suggestion and provide the updated version
example2.mod (2.5 KB)
gh.pdf (115.3 KB)
This is the upgraded version of the model whose steady state is failed to compute.
Where do the strange hard-coded values for y_ss, z_ss and so on come from?
Should I denote them as steady_state() of corresponding variables?
In the model, usually yes.