Unable to find the steady state

Steady state
1

Dear Professor, I am getting the following error while writing dynare code

错误使用 print_info (line 32)
Impossible to find the steady state (the sum of square residuals of the static equations
is 0.2682). 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

出错 steady (line 102)
print_info(info,options_.noprint, options_);

出错 Copy_of_work3_3.driver (line 429)
steady;

出错 dynare (line 281)
evalin(‘base’,[fname ‘.driver’]);

Here’s my code.
Copy_of_work3_3.mod (3.8 KB)
Eagerly awaiting your help! Thank you very much!

2
  1. Only do exp()-substitutions once the model runs. Even better, use an alternative. See Question about understanding irfs in dynare - #4 by jpfeifer
  2. It seems you are setting up stochastic simulations, but with inequality constraints. That won’t work.
3

Thank you for your answer for this! Do you mean that the model part cannot have inequality constraints?

4

No, for that you would need OccBin or perfect foresight simulations.

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