Starting Dynare (version 6.0).
Calling Dynare with arguments: none
Starting preprocessing of the model file ... 
WARNING: A parameter was used with a lead or a lag in the model block 
Found 4 equation(s). 
Evaluating expressions... 
Computing static model derivatives (order 1). 
Normalizing the static model... 
Finding the optimal block decomposition of the static model... 
2 block(s) found: 
  1 recursive block(s) and 1 simultaneous block(s). 
  the largest simultaneous block has 3 equation(s) 
                                 and 3 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 3 equation(s) 
                                 and 3 feedback variable(s). 
Preprocessing completed. 
Preprocessing time: 0h00m00s.

--------------------------------------------------------
MODEL SIMULATION:

Iter: 1,	 err. = 0.122121,	 time = 0.018
Iter: 2,	 err. = 0.000315455,	 time = 0
Iter: 3,	 err. = 2.22703e-08,	 time = 0.006

Total time of simulation: 0.024.
--------------------------------------------------------


Perfect foresight solution found.


STEADY-STATE RESULTS:

Y    		 1.7895
m    		 0.413052
H    		 0.445487
hbar 		 1.09847

EIGENVALUES:
         Modulus             Real        Imaginary
          0.6746           0.6746                0
           4.112           -4.112                0

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

Total computing time : 0h00m01s
Note: 1 warning(s) encountered in the preprocessor