Dear Professor

labor.mod (4.6 KB)

model.pdf (94.4 KB)

model.pdf (161.9 KB)

When trying to solve the steady state in this DSGE, I encountered such a problem: there is no steady state value in this model(See “model” for details). Could you help me? Thank you!

Focus on the few equations with residuals. They should give you a clue.

Thank you for replying to me in your busy schedule. I tried to calculate the steady-state value, but it seems that there is no steady-state value in this model

You are almost there with your steady state computations. There are just two or three equations with residuals. Either there is still a mistake in these equations or in the associated steady state computations.

I recalculated its steady-state value, but there are always several equations whose residuals are not equal to 0. Calculate the steady state according to the annex “model”, it seems that there is no steady state value in this DSGE mode

When you say you recalculated the steady state and now other residuals appear, this suggests that your computations have not yet converged to the true steady state. Also carefully check whether your model equations have mistakes. Are they indeed consistent with your equations used to compute the steady state?