Starting Dynare (version 6.0).
Calling Dynare with arguments: none
Starting preprocessing of the model file ... 
Found 16 equation(s). 
Evaluating expressions... 
Computing static model derivatives (order 1). 
Normalizing the static model... 
Finding the optimal block decomposition of the static model... 
3 block(s) found: 
  2 recursive block(s) and 1 simultaneous block(s). 
  the largest simultaneous block has 13 equation(s) 
                                 and 13 feedback variable(s). 
Computing dynamic model derivatives (order 1). 
Normalizing the dynamic model... 
Finding the optimal block decomposition of the dynamic model... 
2 block(s) found: 
  1 recursive block(s) and 1 simultaneous block(s). 
  the largest simultaneous block has 15 equation(s) 
                                 and 15 feedback variable(s). 
Preprocessing completed. 
Preprocessing time: 0h00m01s.

                                             Norm of      First-order   Trust-region
 Iteration  Func-count     ||f(x)||^2           step       optimality         radius
     0         11             1.18504                            4.57              1
     1         22            0.139933              1             3.28              1
     2         33         0.000918681       0.217851            0.292              1
     3         44          8.3002e-08      0.0333442           0.0028              1
     4         55         1.52662e-16    0.000548362          7.5e-08              1

<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','7.501047e-08','1.000000e-06','1.526623e-16','1.000000e-03'},true,true);;">stopping criteria details</a>>

xx =

    0.2978    0.4443    0.8899    0.3308    1.0076    1.0126    0.2295    3.8644    0.4937    0.3248    0.0242    0.0029


STEADY-STATE RESULTS:

abh    		 0
acloeb 		 0
acloee 		 0
cb     		 0.00287316
ce     		 0.0241822
ch     		 0.297766
d      		 0.444306
he     		 0.229455
hh     		 0.770545
loe    		 0.493673
nh     		 0.330818
q      		 3.86436
re     		 1.01262
rh     		 1.00756
wh     		 0.889941
y      		 0.324822

EIGENVALUES:
         Modulus             Real        Imaginary
       1.227e-15       -1.227e-15                0
       3.503e-14        3.503e-14                0
         0.02649         -0.02649                0
          0.4968           0.4968                0
             0.9              0.9                0
          0.9769           0.9769                0
           1.009            1.009                0
           1.063            1.063                0
             1.1              1.1                0
           2.576           -2.576                0
       6.814e+09        6.814e+09                0
             Inf              Inf                0

There are 6 eigenvalue(s) larger than 1 in modulus for 6 forward-looking variable(s)
The rank condition is verified.


MODEL SUMMARY

  Number of variables:         16
  Number of stochastic shocks: 1
  Number of state variables:   6
  Number of jumpers:           6
  Number of static variables:  4


MATRIX OF COVARIANCE OF EXOGENOUS SHOCKS
Variables      eps_bh
eps_bh       0.000000

POLICY AND TRANSITION FUNCTIONS
                                   y              ce              ch              re              rh             abh
Constant                    0.324822        0.024182        0.297766        1.012621        1.007557               0
abh(-1)                    -1.180240       -0.317303       -0.489751        2.357401        0.879942        0.900000
d(-1)                      -0.534937       -0.138514       -0.388235        1.958874        0.635431               0
he(-1)                      2.837300        1.246201        5.405403        0.535795      -15.181634               0
hh(-1)                      0.657183        0.694847        3.808251        0.222009      -12.441655               0
loe(-1)                    -0.074533       -0.017210       -0.057710       -1.859126        0.146055               0
rh(-1)                     -0.235893       -0.061081       -0.171201        0.863812        0.280208               0
eps_bh                     -1.311378       -0.352559       -0.544167        2.619335        0.977714        1.000000