[code]var Y C I L K w rk R ;

varexo taul G;

parameters a beta psi eta alpha delta;

a=2;

beta=0.98;

psi=4;

eta=0.76;

alpha=0.3;

delta=0.025;

model;

1/C=beta*R/C(+1);
R=rk(+1)+(1-delta);
psi*(1+eta)

*L^(eta)=(w*(1-taul))/C;

I=K-(1-delta)

*K(-1);*

Y=aK(-1)^(alpha) * L^(1-alpha);

Y=a

L=Y/w *(1-alpha);

K(-1)=Y/rk *(alpha);

Y=C+I+G;

end;

initval;

Y=2.1876;

C=14.4693;

I=3.6131;

L=0.8;

K=144.5260;

w=5.4689;

rk=0.04;

R=1.01;

G=0.1;

taul=0.15;

end;

steady;

check;

endval;

Y=2.1876;

C=14.4693;

I=3.6131;

L=0.8;

K=144.5260;

w=5.4689;

rk=0.04;

R=1.01;

taul=0.15;

G=0.12;

end;

steady;

check;

simul(periods=8000);

[/code]

I think my equations are correct. Is that possible that my model does not reach the steady state? Are just my numbers wrong? Pls help!

Error:

[quote]??? Error using ==> print_info

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, options_);

Error in ==> rbc1 at 147

steady;

Error in ==> dynare at 180

evalin(‘base’,fname) ;[/quote]