Dear friends ,I am a Chinese student as well as a green hand of dynare ,my teacher give us a homework but i really can’t handle this . can anyone help me or give me some suggestions? thank you very much!
here is my code.
%
% RBC Model (Log-Linear)
%----------------------------------------------------------------
% 1. Defining variables
%----------------------------------------------------------------
var Y C N W r Rk K I A;
predetermined_variables
K;
varexo e_a ;
parameters beta delta alpha eta sigma phi rho_a;
%----------------------------------------------------------------
% 2. Calibration
%----------------------------------------------------------------
beta =0.98;
delta =0.023;
eta=0.34;
alpha =0.35;
sigma =1;
phi =1;
rho_a=0.7;
%----------------------------------------------------------------
% 3. Model
%----------------------------------------------------------------
model;
# Rk_ss = 1/beta - (1-delta);
# K_N = (alpha/Rk_ss)^(1/(1-alpha));
# I_Y = delta * K_N^(1-alpha);
# C_Y = 1 - I_Y;
# r_ss = 1/beta-1;
C+W=N*phi+eta;
-sigma*C(+1)+r(+1)*(r_ss/1+r_ss)=-sigma*C;
-C = -C(+1) + Rk_ss/(Rk_ss+(1-delta)) * Rk(+1);
Y = A + alpha*K + (1-alpha)*N;
W = A + alpha*K - alpha*N;
K(+1) = delta*I + (1-delta)*K;
Y = C_Y*C + I_Y*I;
Rk = A + (alpha-1)*K + (1-alpha)*N;
A = rho_a*A(-1) + e_a;
end;
initval;
Y=0;
C=0;
A=0;
W=0;
K=0;
I=0;
Rk=0;
N=0;
r=0;
end;
shocks;
var e_a; stderr sigma;
end;
steady;
check;
model_diagnostics;
stoch_simul(order=1,irf=20)
Y C N W r Rk K I A;
dynare rbc
Starting Dynare (version 5.2).
Calling Dynare with arguments: none
Starting preprocessing of the model file …
Found 9 equation(s).
Evaluating expressions…done
Computing static model derivatives (order 1).
Computing dynamic model derivatives (order 1).
Processing outputs …
done
Preprocessing completed.
Residuals of the static equations:
Equation number 1 : -0.0035805 : 1
Equation number 2 : 0 : 2
Equation number 3 : 0 : 3
Equation number 4 : 0.004368 : Y
Equation number 5 : 0.0040206 : W
Equation number 6 : 0.032176 : K
Equation number 7 : -0.0044963 : 7
Equation number 8 : 0.0035521 : Rk
Equation number 9 : 0 : A
错误使用 print_info (第 32 行)
Impossible to find the steady state (the sum of square residuals of the static equations is 0.0011). 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 (第 102 行)
print_info(info,options_.noprint, options_);
出错 rbc.driver (第 220 行)
steady;
出错 dynare (第 281 行)
evalin(‘base’,[fname ‘.driver’]);