Hi all,
I hope you’re doing well.
I’m new to DSGE and Dynare. I just started my PhD, and I’m learning step by step. I have been provided with a model, and I was asked to add oil production to it.
The files I received are:
rbc_steadystate.m (2.8 KB)
rbc.mod (1.6 KB)
My amendments:
rbc1.mod (1.8 KB)
rbc1_steadystate.m (2.8 KB)
I tried to solve all the errors, but couldn’t. I would appreciate it if you could help me find the errors and how to solve them.
Best regards,
Hussein
Dynare 6.0 reports the following: this indicates that the values of equations 2, 4, 8, and 9 cannot make the residuals of the equations reach zero.
Based on your observation of the steadystate.mod file, the error likely stems from issues with the variable k (capital) in the steady-state computation.
Since in mod file:k = (1-DELTA)*k(-1) + y - c - G;
but in steadystate file:k = kovern*n;so the equations have residuals.
You should check the value of k.
Your approach to the steady state solving is wrong. In the original file, all model-local variables only depend on parameters. In your new file, you suddenly introduce a variable q.
Thank you @Jingjing for your reply, I will check that and get back to the post.
Thank you @jpfeifer, I still have some difficulties learning that, I will work on it and get back.
