pi = p(+1)/p; //(21)
usually implies that there is a unit root in the price level. That in turn implies that there are infinitely many steady state and you cannot let Dynare compute them endogenously.
pi = p(+1)/p; //(21)
usually implies that there is a unit root in the price level. That in turn implies that there are infinitely many steady state and you cannot let Dynare compute them endogenously.