Hello, I was trying to run a simple RBC model with Govt. In this model, Govt taxes labor and capital income with time varying rates.

I have written the steady state block. But still, the dynare is giving me the error:

Residuals of the static equations:

Equation number 1 : 0.005531

Equation number 2 : 0

Equation number 3 : 0

Equation number 4 : -0.0050454

Equation number 5 : 0

Equation number 6 : 0

Equation number 7 : 0

Equation number 8 : 0

Equation number 9 : -0.058171

Equation number 10 : 0

Equation number 11 : 0

Equation number 12 : 0

Equation number 13 : 0

error: The steadystate file did not compute the steady state.

Any help is appreciated!!

WRE1.mod (2.0 KB)