The maximum number of iterations has been reached. Try increasing maxit

Optimal Policy
1

Hi, I am quite new to Dynare and has a project to work. I had problem of solving a Ramsey optimal policy but came across the warning message:

Ramsey: The maximum number of iterations has been reached. Try increasing maxit.

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

出错 Baseline_Ramsey_Optimal0901.driver (line 529)
steady;

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

Plus:
Residuals of the static equations:

Equation number 1 : 0.00022089
Equation number 2 : 0
Equation number 3 : 2.4924e-05
Equation number 4 : 0.0047776
Equation number 5 : 0
Equation number 6 : 0
Equation number 7 : -0.00033842
Equation number 8 : 2.432e-05
Equation number 9 : 0.00021777
Equation number 10 : 0
Equation number 11 : -0.00033827
Equation number 12 : 0
Equation number 13 : 0.0010667
Equation number 14 : 0.00017665

I have already add the command “options_.ramsey.maxit = 10000;” So the error message to limitation of matix is really confusing.
Any help is appriciated! Thank you in advance!
Best reguard
Haruka
Baseline_Ramsey_Optimal0901.mod (8.6 KB)

2

There were still some issues with the conditional steady state:
Baseline_Ramsey_Optimal0901.mod (8.4 KB)

But even after fixing these, Dynare is unable to find a steady state for the Lagrange problem. Are you sure there exists such a steady state?

1 Like
3

Dear professor jpfeifer,
Thank you so much for the help! :relaxed: I think maybe the model doesn’t exit a steady state. Maybe I have to change the form of utility function in order to create a steady state. Thanks again for the valuable suggestion!
Best reguard
Haruka