please the following error occured after running my model;

Configuring Dynare …

[mex] Generalized QZ.

[mex] Sylvester equation solution.

[mex] Kronecker products.

[mex] Sparse kronecker products.

[mex] Local state space iteration (second order).

[mex] Bytecode evaluation.

[mex] k-order perturbation solver.

[mex] k-order solution simulation.

[mex] Quasi Monte-Carlo sequence (Sobol).

[mex] Markov Switching SBVAR.

Starting Dynare (version 4.3.3).

Starting preprocessing of the model file …

Substitution of exo lags: added 4 auxiliary variables and equations.

Found 55 equation(s).

Evaluating expressions…done

Computing static model derivatives:

- order 1

Computing dynamic model derivatives: - order 1
- order 2

Processing outputs …done

Preprocessing completed.

Starting MATLAB/Octave computing.

Warning: Divide by zero.

In kk1_static at 175

In dynare_solve at 44

In evaluate_steady_state at 66

In steady_ at 54

In steady at 81

In kk1 at 457

In dynare at 120

Warning: Divide by zero.

In kk1_static at 354

In dynare_solve at 44

In evaluate_steady_state at 66

In steady_ at 54

In steady at 81

In kk1 at 457

In dynare at 120

Warning: Divide by zero.

In kk1_static at 356

In dynare_solve at 44

In evaluate_steady_state at 66

In steady_ at 54

In steady at 81

In kk1 at 457

In dynare at 120

STEADY: numerical initial values or parameters incompatible with the following equations

27 40 46

Please check for example

i) if all parameters occurring in these equations are defined

ii) that no division by an endogenous variable initialized to 0 occurs

Warning: Divide by zero.

In kk1_static at 175

In evaluate_static_model at 63

In evaluate_steady_state at 94

In steady_ at 54

In steady at 81

In kk1 at 457

In dynare at 120

Warning: Divide by zero.

In kk1_static at 175

In resid at 75

In steady at 90

In kk1 at 457

In dynare at 120

Residuals of the static equations:

Equation number 1 : -2.3e-005

Equation number 2 : 2.5e-006

Equation number 3 : 87.1111

Equation number 4 : -584.595

Equation number 5 : 398.0284

Equation number 6 : -77.71

Equation number 7 : -74.93

Equation number 8 : -75.625

Equation number 9 : -78.405

Equation number 10 : 0.8

Equation number 11 : 800.2

Equation number 12 : 40.3

Equation number 13 : 10.4

Equation number 14 : 12.1

Equation number 15 : 11.6045

Equation number 16 : 522.9327

Equation number 17 : 29.4386

Equation number 18 : 8.2988

Equation number 19 : -13.113

Equation number 20 : -104.64

Equation number 21 : -9.3584

Equation number 22 : 473.7049

Equation number 23 : 20.1

Equation number 24 : 10.5

Equation number 25 : 12.8

Equation number 26 : -11.0304

Equation number 27 : -Inf

Equation number 28 : -676.9264

Equation number 29 : -399.5

Equation number 30 : 9.537

Equation number 31 : 9.8

Equation number 32 : 8.5204

Equation number 33 : 10.9148

Equation number 34 : -100.5

Equation number 35 : 91.34

Equation number 36 : 98.7154

Equation number 37 : 110.3

Equation number 38 : -77802.5945

Equation number 39 : 0

Equation number 40 : NaN

Equation number 41 : 108.06

Equation number 42 : -1185.3603

Equation number 43 : 0

Equation number 44 : 0

Equation number 45 : 0

Equation number 46 : NaN

Equation number 47 : -499.7

Equation number 48 : -0.25

Equation number 49 : -0.03

Equation number 50 : -0.05

Equation number 51 : -0.13

??? Error using ==> print_info at 57

Impossible to find the steady state. Either the model doesn’t have a steady

state, there are an infinity of steady states, or the guess values are too

far from the solution

Error in ==> steady at 92

print_info(info,options_.noprint);

Error in ==> kk1 at 457

steady;

Error in ==> dynare at 120

evalin(‘base’,fname) ;

Please what is the quickest way of reolving this problem. my updated file is attached.

thank you

KK1.mod (3.44 KB)