The steady state at the initial parameters cannot be computeds

Steady state
#1

Dear Pro. Pfeifer,
My model runs with stoch_simul but fails when estimation. I receive the error message:
dynare_estimation_init:: The steady state at the initial parameters cannot be computed.
错误使用 print_info (第 32 行)
The steadystate file did not compute the steady state

出错 dynare_estimation_init (第 619 行)
print_info(info, 0, options_);

出错 dynare_estimation_1 (第 112 行)
dynare_estimation_init(var_list_, dname, [], M_, options_, oo_, estim_params_,
bayestopt_);

出错 dynare_estimation (第 105 行)
dynare_estimation_1(var_list,dname);

出错 optimal_est.driver (第 1187 行)
oo_recursive_=dynare_estimation(var_list_);

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

My mod file and data are
optimal_est.mod (39.3 KB)
QtoQ_1997_2021.mat (7.5 KB)

Any help will be appreciated.

Thanks,
Zixiang Zhu

#2

You are hardcoding the parameter dependence outside of the steady_state_model-block instead of updating the steady state with each parameter draw.

#3

Thanks a lot. I think I get your point. Then how should I fix it? Is that mean I did not pin down the relationship between the steady state and the parameters correctly, probably because I attached over conditions to the parameters to solve the steady state?

#4

No, what I am saying is that the setting belongs into the steady_state_model, not outside. Currently, you fix the steady state values at the parameter values before running estimation.

#5

Thanks! Then how should I fix it?

#6

Move these parameter settings into the steady_state_model-block as in DSGE_mod/RBC_baseline_first_diff_bayesian.mod at master · JohannesPfeifer/DSGE_mod · GitHub