>> clear
>> aob_policy_regime
Starting Dynare (version 5.4).
Calling Dynare with arguments: none
Starting preprocessing of the model file ...
Found 36 equation(s).
Evaluating expressions...done
Computing static model derivatives (order 1).
Computing dynamic model derivatives (order 1).
Processing outputs ...
done
Preprocessing completed.
Equation solved.
fsolve completed because the vector of function values is near zero
as measured by the value of the function tolerance, and
the problem appears regular as measured by the gradient.
Residuals of the static equations:
Equation number 1 : 0 : 1. FOC consumption
Equation number 2 : 0 : 2. Euler equation
Equation number 3 : 0 : 3. FOC capital utilization
Equation number 4 : 0 : 4. FOC capital
Equation number 5 : 0 : 5. FOC investment
Equation number 6 : 0 : 6. Firm price setting 1
Equation number 7 : 0 : 7. Firm price setting 2
Equation number 8 : 0 : 8. Firm price setting 3
Equation number 9 : 0 : 9. Marginal cost
Equation number 10 : 0 : 10. law of motion prices
Equation number 11 : 0 : 11. Optimal capital labor ratio(plugged (eq 13) in the place of l)
Equation number 12 : 0 : 12. law of motion employment
Equation number 13 : 0 : 13. unemployment measure
Equation number 14 : 0 : 14. Job finding rate
Equation number 15 : 0 : 15. Value of firm
Equation number 16 : 0 : 16. recursive representation of nup
Equation number 17 : 0 : 17. recursive representation of wp
Equation number 18 : 0 : 18. optimal condition for wholesaler
Equation number 19 : 0 : 19. Value of work
Equation number 20 : 0 : 20. Present value of worker payoff after separation
Equation number 21 : 0 : 21. Unemployment value
Equation number 22 : 0 : 22. Vacancy filling rate
Equation number 23 : 0 : 23. Matching function(with definition of job market tightness)
Equation number 24 : 0 : 24. AOB equilibrium equation(Christiano et.al.(2016) eq(26))
Equation number 25 : 0 : 25. Monetary Policy
Equation number 26 : 0 : 26. Tax Rule
Equation number 27 : 0 : 27. Government budget constraint
Equation number 28 : 0 : 28. Resource constraint
Equation number 29 : 0 : 29. Aggregate production(plugged (eq 13) in the place of l)
Equation number 30 : 0 : 30. LOM Price dispersion term
Equation number 31 : 0 : 31. Law of motion for capital
Equation number 32 : 0 : 32. Preference Shock
Equation number 33 : 0 : 33. UB Shock
Equation number 34 : 0 : 34. Investment specific technology
Equation number 35 : 0 : 35. Neutral technology
Equation number 36 : 0 : 36. Defininition composite technology
Equation solved.
fsolve completed because the vector of function values is near zero
as measured by the value of the function tolerance, and
the problem appears regular as measured by the gradient.
EIGENVALUES:
Modulus Real Imaginary
3.193e-14 3.193e-14 0
0.06781 -0.06781 0
0.12 0.12 0
0.5859 -0.5859 0
0.754 0.754 0
0.7704 0.7596 0.1286
0.7704 0.7596 -0.1286
0.8646 0.8646 0
0.918 0.9179 0.01565
0.918 0.9179 -0.01565
0.95 0.95 0
0.9923 0.9923 0
1.003 1.003 0
1.012 1.012 0
1.043 1.043 0
1.115 1.115 0
1.179 1.179 0
1.208 1.176 0.2781
1.208 1.176 -0.2781
1.322 1.322 0
2.282e+17 -2.282e+17 0
3.233e+19 3.233e+19 0
3.04e+21 3.04e+21 0
4.057e+21 -4.057e+21 0
2.058e+22 -2.058e+22 0
1.554e+23 -1.554e+23 0
3.322e+24 3.322e+24 0
5.711e+25 5.711e+25 0
Inf Inf 0
Inf Inf 0
Inf -Inf 0
There are 19 eigenvalue(s) larger than 1 in modulus
for 19 forward-looking variable(s)
The rank condition ISN'T verified!
Equation solved.
fsolve completed because the vector of function values is near zero
as measured by the value of the function tolerance, and
the problem appears regular as measured by the gradient.
MODEL_DIAGNOSTICS: No obvious problems with this mod-file were detected.
Equation solved.
fsolve completed because the vector of function values is near zero
as measured by the value of the function tolerance, and
the problem appears regular as measured by the gradient.
Error using print_info
Blanchard & Kahn conditions are not satisfied: indeterminacy due to rank failure.
Error in stoch_simul (line 120)
print_info(info, options_.noprint, options_);
Error in aob_policy_regime.driver (line 545)
[info, oo_, options_, M_] = stoch_simul(M_, options_, oo_, var_list_);
Error in dynare (line 278)
evalin('base',[fname '.driver']);
Error in aob_policy_regime (line 2)
dynare aob_policy_regime.mod