Steady state contains NaN or Inf(All the equation)

Steady state
1

Dear professor Pfeifer,
I added a portion of human capital to the program in Queralto’s paper Innovation, Productivity, and Monetary Policy . I added endogenous variables human capital(HC) and time for education(E), information shock(info).
I changed the equation 12 (turn exp(L) to exp(H)*exp(L); and the same change to eq.16, eq.37. I added equations 21 and 22.

When I simulate the model I get the following message:
esiduals of the static equations:

Equation number 1 : NaN
Equation number 2 : NaN
Equation number 3 : NaN
Equation number 4 : NaN
Equation number 5 : NaN
Equation number 6 : NaN
Equation number 7 : NaN
Equation number 8 : NaN
……

All equations are NaN
I wonder if there is a problem with the equation?

Do you have any tips on what might be causing this problem?

Best,

LynnHC_endog.mod (21.5 KB)

2

You are loading a parameter file you did not provide. Also, your model does not provide initial values for the steady state. Could it be that a steady state file is missing?

3

parameterfile.mat (2.5 KB)
Because the original program has no initial values, so I did not add it.

4

Was there a _steady_state.m-file accompanying the original file?

5

yep there is !!! So it seems to be the initial value problem? I am more worried about the problem of the equation Haha.

6

You need to adjust the steady state file to your model

7

thanks a lot! best wishes!

8

HC_endog_steadystate.m (5.1 KB)
Dear sir，I modified this file and the results show ‘The steadystate file did not compute the steady state’，do you have any suggestions?

9

Dynare does show you the equations with residuals. You need to focus on those. Given your changes in the model, you need to of course also adjust the associated steady state computations.