Starting Dynare (version 5.2).
Calling Dynare with arguments: none
Starting preprocessing of the model file ...
Found 46 equation(s).
Evaluating expressions...done
Computing static model derivatives (order 1).
Computing dynamic model derivatives (order 2).
Processing outputs ...
done
Preprocessing completed.


<a href = "matlab: helpview('optim','eqn_solved','CSHelpWindow');">Equation solved</a>.

fsolve completed because the vector of function values is near zero
as measured by the value of the <a href = "matlab: helpview('optim','fcn_tolerance_fsolve','CSHelpWindow');">function tolerance</a>, and
the <a href = "matlab: helpview('optim','appears_regular','CSHelpWindow');">problem appears regular</a> as measured by the gradient.

<<a href = "matlab: createExitMsg({'optim:fsolve:Exit1basic','fsolve'},{'optim:fsolve:Exit1detailed','2.321190e-12','1.000000e-10','2.149646e-29','1.000000e-05'},true,true);;">stopping criteria details</a>>

<a href = "matlab: helpview('optim','eqn_solved','CSHelpWindow');">Equation solved</a>.

fsolve completed because the vector of function values is near zero
as measured by the value of the <a href = "matlab: helpview('optim','fcn_tolerance_fsolve','CSHelpWindow');">function tolerance</a>, and
the <a href = "matlab: helpview('optim','appears_regular','CSHelpWindow');">problem appears regular</a> as measured by the gradient.

<<a href = "matlab: createExitMsg({'optim:fsolve:Exit1basic','fsolve'},{'optim:fsolve:Exit1detailed','2.321190e-12','1.000000e-10','2.149646e-29','1.000000e-05'},true,true);;">stopping criteria details</a>>




Residuals of the static equations:

Equation number 1 : 2.2976 : rb
Equation number 2 : 0 : z
Equation number 3 : 0 : zg
Equation number 4 : -0.80472 : zmf
Equation number 5 : -0.80472 : zms
Equation number 6 : -0.20273 : phif
Equation number 7 : -0.20273 : phis
Equation number 8 : 0 : ZH
Equation number 9 : 0 : ZG
Equation number 10 : 0 : ZMf
Equation number 11 : 0 : ZMs
Equation number 12 : 0 : PHIf
Equation number 13 : 0 : PHIs
Equation number 14 : 0 : yf
Equation number 15 : 0 : ys
Equation number 16 : 0 : cf
Equation number 17 : 0 : cs
Equation number 18 : 0 : yd
Equation number 19 : 0 : 19
Equation number 20 : 0 : 20
Equation number 21 : 0 : 21
Equation number 22 : 0 : 22
Equation number 23 : 0 : 23
Equation number 24 : 0.7352 : 24
Equation number 25 : 0.7352 : 25
Equation number 26 : 0 : pf
Equation number 27 : 0 : pfStar
Equation number 28 : 0 : psStar
Equation number 29 : 0 : 29
Equation number 30 : 0 : pfHat
Equation number 31 : 0 : psHat
Equation number 32 : 0 : spf
Equation number 33 : 0 : smcf
Equation number 34 : 0 : sps
Equation number 35 : 0 : smcs
Equation number 36 : 0 : mc
Equation number 37 : 0 : mcf
Equation number 38 : 0 : mcs
Equation number 39 : 0.18359 : 39
Equation number 40 : 0.18359 : 40
Equation number 41 : 0 : 41
Equation number 42 : 0 : Nd
Equation number 43 : 0 : kg
Equation number 44 : 0 : km
Equation number 45 : 0 : k
Equation number 46 : 0 : 46