The steadystate file did not compute the steady-state

[Saurabh]

I was searching the forum and I found this discussion relevant to me. But I am unable to see what the professor has replied…

Can't find steady state

Identify the problematic equations by putting resid; before steady. Then check these equations. For example, your Taylor rule shows a problematic residual: R=rhor*R(-1)+(1-rhor)*(phipi*pi+phiy*(y-y(-1)))+er; Basically, the constant seems to be missing. I think it should be along the lines of R=rhor*R(-1)+(1-rhor)*(R_bar + phipi*pi+phiy*(y-y(-1)))+er;