Steady State not founded in NK model

Steady state
1

Hi,

Inciso1.mod (2.1 KB)
Inciso2.mod (2.3 KB)

Here I include the NK model I want to analyze, Inciso1.mod it’s my base model and runs well, Inciso2.mod includes a different Monetarý Policy Rule and dynare won’t find an steady state

image

Here the Matlab output.

Residuals of the static equations:

Equation number 1 : 0.010609 : 1
Equation number 2 : -0.0029745 : 2
Equation number 3 : 0.0024998 : 3
Equation number 4 : 0.004359 : 4
Equation number 5 : 0.011969 : 5
Equation number 6 : -0.0028783 : 6
Equation number 7 : -0.0024115 : 7
Equation number 8 : 0.002247 : 8
Equation number 9 : 0 : a
Equation number 10 : 0 : nu

Error using print_info (line 32)
Impossible to find the steady state (the sum of square residuals of the static equations is 0.0003). Either the model
doesn’t have a steady state, there are an infinity of steady states, or the guess values are too far from the solution

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

Error in Inciso2.driver (line 240)
steady;

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

2

In the first mod-file, the steady state for n is not 1. But then in the second mod-file, you claim that natural output is

exp(a)^((1+psi)/(sigma+psi)))

which is only true if n=1.

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