Steady State Question

A model not following the standard Taylor principle is indeed strange. It may hide a more fundamental issue.

Maybe it has something to do with the model intra-period borrowing structure? (The codes are for the simplified version of Gorn&Trigari2023.pdf, with no search intensity and no distinction between short- and long-term unemployed).

But their Table 3 shows that their model satisfies the Taylor principle.

Yes. They did the model simulation in Matlab directly, so not sure why it won’t run in Dynare.

Again, that suggests that your timing differs from theirs (or their implemented timing violates Dynare’s default convention).

Could be. Interestingly, my code now started working also for the initial 2-sector model version that I was struggling with and it satisfies Taylor rule.