STEADY: convergence problems

I have a .mod code to solve the dsge model with labor market frictions. but after I run the code, it shows:
Warning: Divide by zero.

In paper11_static at 93
In lnsrch1 at 77
In solve1 at 127
In dynare_solve at 112
In steady_ at 124
In steady at 52
In paper11 at 410
In dynare at 132

SOLVE: maxit has been reached
??? Error using ==> steady_ at 132
STEADY: convergence problems

Error in ==> steady at 52

Error in ==> paper11 at 410

Error in ==> dynare at 132
evalin(‘base’,fname) ;

Anyone knows what’s the problem? Thanks,
paper11.mod (7.15 KB)


Dynare can’t find the steady state.

You are not giving sufficiently good initial values to the solver, or your model does not have a steady state.