Starting Dynare (version 5.3). Calling Dynare with arguments: none Starting preprocessing of the model file ... WARNING: in the 'steady_state_model' block, variable 'ygap' is not assigned a value WARNING: in the 'steady_state_model' block, variable 'pi' is not assigned a value WARNING: in the 'steady_state_model' block, variable 'ff' is not assigned a value WARNING: in the 'steady_state_model' block, variable 'r' is not assigned a value WARNING: in the 'steady_state_model' block, variable 'g' is not assigned a value WARNING: in the 'steady_state_model' block, variable 'u' is not assigned a value WARNING: in the 'steady_state_model' block, variable 'eta' is not assigned a value Found 10 equation(s). Evaluating expressions...done Computing static model derivatives (order 1). Computing dynamic model derivatives (order 2). Processing outputs ... done Preprocessing completed. Residuals of the static equations: Equation number 1 : 0 : ygap Equation number 2 : 0 : pi Equation number 3 : 0 : r Equation number 4 : 0 : Taylor Rule Equation number 5 : 0 : g Equation number 6 : 0 : u Equation number 7 : 0 : eta Equation number 8 : 0 : yobs Equation number 9 : 0 : piobs Equation number 10 : 0 : robs STEADY-STATE RESULTS: ygap 0 pi 0 ff 0 r 0 g 0 u 0 eta 0 yobs 0 piobs 1 robs 0.5 MODEL SUMMARY Number of variables: 10 Number of stochastic shocks: 3 Number of state variables: 4 Number of jumpers: 2 Number of static variables: 4 MATRIX OF COVARIANCE OF EXOGENOUS SHOCKS Variables eps_g eps_u eps_eta eps_g 1.000000 0.000000 0.000000 eps_u 0.000000 1.000000 0.000000 eps_eta 0.000000 0.000000 0.002500 POLICY AND TRANSITION FUNCTIONS ygap pi ff r g u eta yobs piobs robs Constant 0 0 0 0 0 0 0 0 1.000000 0.500000 r(-1) -0.572488 -0.429509 0.444740 0.444740 0 0 0 -0.572488 -0.429509 0.444740 g(-1) 0.522681 0.293233 0.242354 0.242354 0.500000 0 0 0.522681 0.293233 0.242354 u(-1) -0.156837 0.584612 0.174459 0.174459 0 0.500000 0 -0.156837 0.584612 0.174459 eta(-1) -0.394309 -0.337307 0.144505 0.144505 0 0 0.370000 -0.394309 -0.337307 0.144505 eps_g 1.045362 0.586466 0.484707 0.484707 1.000000 0 0 1.045362 0.586466 0.484707 eps_u -0.313674 1.169224 0.348919 0.348919 0 1.000000 0 -0.313674 1.169224 0.348919 eps_eta -1.065701 -0.911640 0.390554 0.390554 0 0 1.000000 -1.065701 -0.911640 0.390554 THEORETICAL MOMENTS VARIABLE MEAN STD. DEV. VARIANCE ygap 0.0000 1.2280 1.5079 pi 0.0000 1.3951 1.9464 ff 0.0000 0.9657 0.9327 r 0.0000 0.9657 0.9327 g 0.0000 1.1547 1.3333 u 0.0000 1.1547 1.3333 eta 0.0000 0.0538 0.0029 yobs 0.0000 1.2280 1.5079 piobs 1.0000 1.3951 1.9464 robs 0.5000 0.9657 0.9327 VARIANCE DECOMPOSITION (in percent) eps_g eps_u eps_eta ygap 76.99 22.74 0.28 pi 18.62 81.23 0.15 ff 65.81 34.10 0.08 r 65.81 34.10 0.08 g 100.00 0.00 0.00 u 0.00 100.00 0.00 eta 0.00 0.00 100.00 yobs 76.99 22.74 0.28 piobs 18.62 81.23 0.15 robs 65.81 34.10 0.08 MATRIX OF CORRELATIONS Variables ygap pi ff r g u eta yobs piobs robs ygap 1.0000 0.0438 0.2252 0.2252 0.8152 -0.4157 -0.0510 1.0000 0.0438 0.2252 pi 0.0438 1.0000 0.6502 0.6502 0.3746 0.8880 -0.0380 0.0438 1.0000 0.6502 ff 0.2252 0.6502 1.0000 1.0000 0.7453 0.5365 0.0261 0.2252 0.6502 1.0000 r 0.2252 0.6502 1.0000 1.0000 0.7453 0.5365 0.0261 0.2252 0.6502 1.0000 g 0.8152 0.3746 0.7453 0.7453 1.0000 0.0000 0.0000 0.8152 0.3746 0.7453 u -0.4157 0.8880 0.5365 0.5365 0.0000 1.0000 0.0000 -0.4157 0.8880 0.5365 eta -0.0510 -0.0380 0.0261 0.0261 0.0000 0.0000 1.0000 -0.0510 -0.0380 0.0261 yobs 1.0000 0.0438 0.2252 0.2252 0.8152 -0.4157 -0.0510 1.0000 0.0438 0.2252 piobs 0.0438 1.0000 0.6502 0.6502 0.3746 0.8880 -0.0380 0.0438 1.0000 0.6502 robs 0.2252 0.6502 1.0000 1.0000 0.7453 0.5365 0.0261 0.2252 0.6502 1.0000 COEFFICIENTS OF AUTOCORRELATION Order 1 2 3 4 5 ygap 0.3615 0.1191 0.0321 0.0039 -0.0035 pi 0.3277 0.0872 0.0095 -0.0104 -0.0119 ff 0.7728 0.5077 0.3078 0.1779 0.0996 r 0.7728 0.5077 0.3078 0.1779 0.0996 g 0.5000 0.2500 0.1250 0.0625 0.0312 u 0.5000 0.2500 0.1250 0.0625 0.0313 eta 0.3700 0.1369 0.0507 0.0187 0.0069 yobs 0.3615 0.1191 0.0321 0.0039 -0.0035 piobs 0.3277 0.0872 0.0095 -0.0104 -0.0119 robs 0.7728 0.5077 0.3078 0.1779 0.0996 EIGENVALUES: Modulus Real Imaginary 0.37 0.37 0 0.4447 0.4447 0 0.5 0.5 0 0.5 0.5 0 1.157 1.157 0 1.944 1.944 0 There are 2 eigenvalue(s) larger than 1 in modulus for 2 forward-looking variable(s) The rank condition is verified. MODEL_DIAGNOSTICS: No obvious problems with this mod-file were detected. initial_estimation_checks:: The IVF requires exactly as many shocks as observables. initial_estimation_checks:: The data series robs contains NaN, I am therefore dropping shock eps_eta for these time points. Initial value of the log posterior (or likelihood): -34911.5554 ========================================================== Change in the posterior covariance matrix = 0.80999. Change in the posterior mean = 1.3915. Current mode = 1144.0739 Mode improvement = 33767.4815 New value of jscale = 0.0046135 ========================================================== ========================================================== Change in the posterior covariance matrix = 0.0069996. Change in the posterior mean = 2.0108. Current mode = Inf Mode improvement = Inf New value of jscale = 4.8685e-320 ========================================================== Error using feval Unrecognized function or variable 'cgg_0819_ff_c.occbin_difference'. Error in occbin.solve_one_constraint (line 193) [binding, relax, err]=feval([M_.fname,'.occbin_difference'],zdatalinear_+repmat(dr_base.ys',size(zdatalinear_,1),1),M_.params,dr_base.ys); Error in occbin.solver (line 78) [out, ss, error_flag ] = occbin.solve_one_constraint(M_,oo_.dr,options_.occbin.simul,solve_dr); Error in occbin.match_function (line 39) [~, out, ss] = occbin.solver(M_,oo_,options_); Error in dynare_solve (line 90) [fvec, fjac] = feval(f, x, args{:}); Error in occbin.IVF_core (line 93) [err_vals_out, exitflag] = dynare_solve(@occbin.match_function, filtered_errs_init(this_period,inan)', options_, obs_list,current_obs, opts_simul, M_,oo_,options_); Error in occbin.IVF_posterior (line 105) [filtered_errs, resids, Emat, stateval, info] = occbin.IVF_core(Model,DynareResults,DynareOptions,err_index,filtered_errs_init,obs_list,obs); Error in gmhmaxlik_core (line 105) logpo2 = - feval(ObjFun,proposal,varargin{:}); Error in gmhmaxlik (line 100) [PostMode, PostVariance, Scale, PostMean] = gmhmaxlik_core(fun, OldPostMode, bounds, gmhmaxlikOptions, Scale, flag, MeanPar, OldPostVariance, varargin{:}); Error in dynare_minimize_objective (line 336) [opt_par_values, hessian_mat, Scale, fval] = gmhmaxlik(objective_function, start_par_value, ... Error in dynare_estimation_1 (line 214) [xparam1, fval, exitflag, hh, options_, Scale, new_rat_hess_info] = dynare_minimize_objective(objective_function,xparam1,options_.mode_compute,options_,[bounds.lb bounds.ub],bayestopt_.name,bayestopt_,hh,dataset_,dataset_info,options_,M_,estim_params_,bayestopt_,bounds,oo_); Error in dynare_estimation (line 118) dynare_estimation_1(var_list,dname); Error in cgg_0819_ff_c/driver (line 327) Error in dynare (line 281) evalin('base',[fname '.driver']);