The error in dynare

Dear friends and teachers
I have received the following error in dynare, how can I solve it?
Thank you for your reply.

dynare my_base_model
Starting Dynare (version 5.2).
Calling Dynare with arguments: none
Starting preprocessing of the model file …
Found 33 equation(s).
Evaluating expressions…done
Computing static model derivatives (order 1).
Computing dynamic model derivatives (order 2).
Processing outputs …
done
Preprocessing completed.

Residuals of the static equations:

Equation number 1 : 0 : m
Equation number 2 : 0 : 2
Equation number 3 : NaN : 3
Equation number 4 : NaN : 4
Equation number 5 : 0 : shi_m
Equation number 6 : 0 : inv
Equation number 7 : 0 : c
Equation number 8 : 0 : y
Equation number 9 : 0 : w
Equation number 10 : 0 : mc
Equation number 11 : NaN : L
Equation number 12 : 0 : icb
Equation number 13 : 0 : id
Equation number 14 : 0 : rr
Equation number 15 : NaN : 15
Equation number 16 : 0 : rl
Equation number 17 : 0 : url
Equation number 18 : 0 : a
Equation number 19 : 0 : pi
Equation number 20 : 0 : delthab
Equation number 21 : 0 : or
Equation number 22 : 0 : g
Equation number 23 : NaN : mb
Equation number 24 : NaN : 24
Equation number 25 : 0 : er
Equation number 26 : 0 : deltha_en
Equation number 27 : 0 : mui
Equation number 28 : NaN : fr
Equation number 29 : 0 : pif
Equation number 30 : 0 : dc
Equation number 31 : 5.832e-06 : ii
Equation number 32 : 0 : shi_i
Equation number 33 : NaN : 33

STEADY: numerical initial values or parameters incompatible with the following equations
3 4 11 15 23 24 28 33

Check whether your model is truly linear. Put “resid(1);” before “steady;” to see the problematic equations.

Residuals of the static equations:

Equation number 1 : NaN : m
Equation number 2 : NaN : 2
Equation number 3 : NaN : 3
Equation number 4 : NaN : 4
Equation number 5 : 1.1664e-06 : shi_m
Equation number 6 : 0 : inv
Equation number 7 : NaN : c
Equation number 8 : NaN : y
Equation number 9 : NaN : w
Equation number 10 : NaN : mc
Equation number 11 : NaN : L
Equation number 12 : 0 : icb
Equation number 13 : NaN : id
Equation number 14 : NaN : rr
Equation number 15 : NaN : 15
Equation number 16 : NaN : rl
Equation number 17 : NaN : url
Equation number 18 : 0 : a
Equation number 19 : NaN : pi
Equation number 20 : NaN : delthab
Equation number 21 : 0 : or
Equation number 22 : 0 : g
Equation number 23 : NaN : mb
Equation number 24 : NaN : 24
Equation number 25 : NaN : er
Equation number 26 : 0 : deltha_en
Equation number 27 : NaN : mui
Equation number 28 : NaN : fr
Equation number 29 : 0 : pif
Equation number 30 : NaN : dc
Equation number 31 : NaN : ii
Equation number 32 : NaN : shi_i
Equation number 33 : NaN : 33

Error using print_info (line 32)
The steady state has NaNs or Inf.

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

Error in my_base_model.driver (line 670)
steady;

Error in dynare (line 281)
evalin(‘base’,[fname ‘.driver’]);

Without the codes it is impossible to tell.

ok
how can I send you my cods?
is this enough?:

//--------------------------Endogenous variables Block-------------------------
var 
//********* household variables****//
    c         (long_name='consumtion')
    n         (long_name='hours worked')
    w         (long_name='real wage')
    m         (long_name='liquidity, m2 in household basket')
    mcm       (long_name='money, fisical money in the basket of household')
    id        (long_name='intrest rate of time and saving deposits')
    d         (long_name='time and saving deposits and demand deposits')
    er        (long_name='real exchang rate')
    k         (long_name='capital')
    ii        (long_name='intrest rate of government bonds and policy instroment')
    pi        (long_name='inflation')
    pif       (long_name='foreign inflation')
    rk        (long_name='intrest of investment')
    inv       (long_name='investment')
//********* firm variables****//
    y         (long_name='Total output')
    a
    L         (long_name='Loan of intermediate firm from bank')
    rl       (long_name='the rate Loan of intermediate firm from bank')
    mc        (long_name='marginal cost of intermediate firm')
//********* bank variables****//
    delthab   (long_name='default rate')
    icb       (long_name='the rate of loan of bank from central bank')
    Lcb       (long_name='the loan of bank from central bank')
    rr        (long_name='legal deposit rate')
    url       (long_name='the deffrence rate of debt to firm and deposit rate')
//********* open economy sector****//
    or        (long_name='oil revenue')
//********* government and central bank sector****//
    g         (long_name='government expenditure')
    mui       (long_name='money growth rate') 
    dc        (long_name='Seigniorage')
    fr        (long_name='foreign assets of central bank')
    mb        (long_name='monetary base')
//********* shocks variables**********************//
    shi_m     (long_name='money demand shocks')
    deltha_en (long_name='nominal exchang rate growth shocks')
    shi_i;
//----------------------Exogenous variables------------------------------------
varexo
    u_a u_m u_or u_g u_rr shi_url shi_pif shi_dc u_shi_i u_deltha_en;
 
//----------------------Parameters---------------------------------------------
Parameters 

phi_ns                                        (long_name='inverse Frisch elasticity')
betta                                         (long_name='discount factor')
etta                                          (long_name='relative M1 weight in money')
d_mcm
m_mcm
rr_b
delthab_b
url_b
id_b
icb_b
rl_b
pi_b
pc_b                                           (long_name='Target inflation')
deltha                                         (long_name='depreciation')
rk_b
alphha                                         (long_name='kappial share in production function')
tetta                                          (long_name='Substitution elasticity of intermediate goods')
ltvf                                           (long_name='Ratio of cost financed with loan')
mc_b
n_b
k_b
w_b
be                                            (long_name='relative money weight in utility function')
ve                                               (long_name='semi-elasticity of money demand')
c_b
m_b
y_b
a_b
inv_b
g_b
mcm_b
d_b
mb_b
L_b
Lcb_b
Mui_b
dc_mb
er_bfr_b
fr_b
omegha                                      (long_name='Calvo parameter')
rho_m                                         (long_name='money demand shock parameter') 
rho_url
rho_a                                         (long_name='autocorrelation technology shock')
rho_delthab                                   (long_name='weight of previous period default rate in default rate')
phi_delthay                                   (long_name='weight of output gap in default rate')
rho_or                                      (long_name='autocorrelation oil shock')
rho_g                                       (long_name='autocorrelation government expenditure shock') 
pho_deltha_en                                (long_name='autocorrelation exchang rate growth shock')
rho_pif
rho_dc
rho_pic
rho_i                                         (long_name='lag of intrest rate feedback Taylor Rule')
rho_pi                                        (long_name='inflation feedback Taylor Rule')
rho_y
rho_mui                                       (long_name='money growth rate feedback Taylor Rule')
rhoshi_i                                      (long_name='autocorrelation monetary policy shock')
rho_rr                                            (long_name='autocorrelation legal deposit rate shock')
;
//-------------------Parametrization---------------------------------
betta=0.965;
etta=0.0486807597119462;
delthab_b=0.008;
url_b=0.009;
rr_b=0.1;
pi_b=1.042246635;
pc_b=1/0154321;
deltha=0.055;
alphha=0.588;
phi_ns=0;
tetta=7;
ltvf=0.9;
n_b=1;
g_b=1;
be=0.05;
ve=1.3153;
a_b=1;
Mui_b=1;
dc_mb=0.13;
omegha=0.351;
rho_m=0.8;
rho_url=0.8;
rho_a=0.9;
rho_delthab=0.8;
phi_delthay=0.8;
rho_or=0.779;
rho_g=0.875;
pho_deltha_en=0.8;
rho_pif=0.8;
rho_dc=0.8;
rho_pic=0.8;
rho_i=0.5;
rho_pi=0.9;
rho_y=0.02;
rho_mui=0.8;
rhoshi_i=0.8;
rho_rr=0.8;
id_b=((((1-rr_b-delthab_b+(rr_b*delthab_b))*url_b)/(rr_b+delthab_b-(rr_b*delthab_b)))+1)^(1/4);
d_mcm=(1-(betta/pi_b))/(1-((betta/pi_b)*id_b))*((1-etta)/etta);
m_mcm=(d_mcm)^(1-etta);
icb_b=id_b/(1-rr_b);
rl_b=id_b+url_b;
rk_b=(1/betta)-1+deltha;
mc_b=(tetta-1)/tetta;
k_b=(alphha*mc*rk_b/(1+(ltvf*rl_b)))^(1/(1-alphha));
inv_b=k_b*deltha;
w_b=((1-alphha)/alphha)*rk_b*k_b;
c_b=((1-be)*w_b)^(1/ve);
m_b=(((1-be)*(1-(betta*id_b/pi_b))/(be*etta*(d_mcm^((-1)*etta))))^(-1/ve))*c_b;
y_b=k_b^alphha;
mcm_b=m_b/((d_mcm)^(1-etta));
d_b=mcm_b*d_mcm;
mb_b=mcm_b+(d_b*rr_b);
L_b=ltvf*((w_b*n_b)+(rk_b*k_b));
Lcb_b=L_b-((1-rr_b)*d_b);
er_bfr_b=mb_b-(dc_mb*mb_b)-Lcb_b;
fr_b=mb_b-(dc_mb*mb_b)-Lcb_b;

//----------------------Model Declaration Block--------------------------------
model(linear); 

//liquidity decomposition
   m=etta*mcm+(1-etta)*d;

//labor supply
   phi_ns*n=w-(ve*c);

// fisical money demand
   ((be*etta*(m_b^(-ve))*((d_b/mcm_b)^(1-etta)))*((-ve)*m+(etta-1)*mcm+(1-etta)*d+shi_m))+(betta/pi_b)*(1-be)*(c_b^(-ve))*((-ve*c(+1))-pi(+1))=(1-be)*(c_b^(-ve))*(-ve*c);

// deposit demand
   ((be*(1-etta)*(m_b^(-ve))*((d_b/mcm_b)^(-etta)))*((-ve)*m+(etta)*mcm+(-etta)*d+shi_m))+(betta/pi_b)*(1-be)*(c_b^(-ve))*(id_b)*(((-ve*c(+1))-pi(+1))+id)=(1-be)*(c_b^(-ve))*(-ve*c);

//money demand shock
    shi_m=rho_m*shi_m(-1)+u_m;

//investment
    inv = (1/deltha)*(k-(1-deltha)*k(-1));

//Euler
    c=c(+1)-(1/ve)*(ii-pi(+1));


//prodution function
    y=alphha*k(-1)+(1-alphha)*n;

//factor demand
    w=k(-1)+rk-n;

//marginal cost
    mc=(((1/alphha)^(alphha))*((1/(1-alphha))^(1-alphha))*(rk_b^alphha)*(w_b^(1-alphha))/mc_b)*((1+(ltvf*rl_b))*((alphha*rk)+((1-alphha)*w)-a)+(ltvf*rl_b*rl));

//Loan of firm from bank
    L=(ltvf/L_b)*(((w_b*n_b)*(w+n))+((rk_b*k_b)*(rk+k)));

//the intrest rate of central bank to comercial one
    icb=(rl_b/icb_b)*(1-delthab_b)*rl-(rl_b*delthab_b/icb_b)*delthab;

//deposit intrest rate
     id=(1-rr_b)*(icb_b/id_b)*icb-(icb_b*rr_b/id_b)*rr;
     rr=rho_rr*rr(-1)+u_rr;

//debt or firms to bank
     L=(d_b/L_b)*(1-rr_b)*d-(d_b*rr_b/L_b)*rr+(Lcb_b/L_b)*Lcb;

//the rate of debt to firm
     rl=((id_b/rl_b)*id)+url;

//the deffrence rate of debt to firm and deposit rate
     url=rho_url*url(-1)+shi_url;

//technology shoch
   a=rho_a*a(-1)+u_a;

//phillps curve
   pi=betta*pi(+1)+((1-omegha*betta)*(1- omegha)/ omegha)*mc;

//default rate
   delthab=rho_delthab*delthab(-1)+phi_delthay*y;

//oil export
   or=rho_or*or(-1)+u_or;

//government expenditure shock
   g=rho_g*g(-1)+u_g;

//monatary base According to sources
    mb=(dc_mb)*dc+(Lcb_b/mb_b)*Lcb+(er_bfr_b/mb_b)*(er+fr);

//monatary base According to expenses
    mb=(mcm_b/mb_b)*mcm+(rr_b*d_b/mb_b)*(rr+d);

//real exchange rate
    er=er(-1)+deltha_en+pif-pi;
    deltha_en=pho_deltha_en*deltha_en(-1)+u_deltha_en;

//money growth rate
    mui=m-m(-1)+pi;

//foreign reserves of the central bank
    fr=fr(-1)-pif+(1/fr_b)*or;

//foreign inflation
    pif=rho_pif*pif(-1)+shi_pif;

//Deficit
    dc=rho_dc*dc(-1)+shi_dc;
  
//intrest rate target (monatary policy target)
     ii=rho_i*ii(-1)+rho_pi*(pi-pc_b)+rho_y*(y)+rho_mui*(mui)+shi_i;
      shi_i=rhoshi_i*shi_i(-1)+u_shi_i;
//resource constraint
     y=(c_b/y_b)*c+(inv_b/y_b)*inv+(g_b/y_b)*g;

end;
//----------------------Initial Value of Endogenous Variables Block -----------
initval;
    c=0;      
    n=0;        
    w=0;      
    m=0;        
    mcm=0;       
    id=0;
    d=0;
    er=0;      
    k=0;       
    ii=0;        
    pi=0;       
    pif=0;              
    rk=0;       
    inv=0;            
//********* firm variables****//
    y=0;       
    L=0;    
    rl=0;      
    mc=0;      
//********* bank variables****//
    delthab=0;   
    icb=0;       
    Lcb=0;     
    rr=0;      
    url=0;     
//********* open economy sector****//
    or=0;     
//********* government and central bank sector****//
    g=0;      
    mui=0;     
    dc=0;      
    fr=0;    
    mb=0;
//********* shocks variables**********************//
    shi_m=0;
    deltha_en=0;
    shi_i=0;

end;
resid(1);
steady;
check;
//----------------------The Shocks Block---------------------------------------
shocks;
    var u_a;
    stderr 0.01;
    var u_m;
    stderr 0.01;
    var u_or;
    stderr 0.01;
    var u_g; 
    stderr 0.01;
    var u_rr;
    stderr 0.01;
    var shi_url;
    stderr 0.01;
    var shi_pif;
    stderr 0.01;
    var shi_dc;
    stderr 0.01;
    var u_shi_i;
    stderr 0.01;
    var u_deltha_en;
    stderr 0.01;
end;
//----------------------The Simulation Block-----------------------------------
stoch_simul(periods=10000, irf=30);

See

1 Like

dear Dr.
I realy thank you