by mbbr » Tue Mar 05, 2013 12:40 pm
I write steady-state by modifying fs2000steady state file. In simulation part, it works. In estimation part, excluding gd as an estimated parameter, it works and calculates steady-state of the model. but when including gd as an estimated parameter it fails and gives this error
Configuring Dynare ...
[mex] Generalized QZ.
[mex] Sylvester equation solution.
[mex] Kronecker products.
[mex] Sparse kronecker products.
[mex] Local state space iteration (second order).
[mex] Bytecode evaluation.
[mex] k-order perturbation solver.
[mex] k-order solution simulation.
[mex] Quasi Monte-Carlo sequence (Sobol).
[mex] Markov Switching SBVAR.
Starting Dynare (version 4.3.1).
Starting preprocessing of the model file ...
Found 23 equation(s).
Evaluating expressions...done
Computing static model derivatives:
- order 1
Computing dynamic model derivatives:
- order 1
Processing outputs ...done
Preprocessing completed.
Starting MATLAB/Octave computing.
STEADY-STATE RESULTS:
c 0.150095
h 0.179761
lamda 275.756
a 1
g 1.01
k 0.292417
d 0.007
i 0.0396226
r 0.105919
y 0.211472
k_over_gh 1.61059
v 1
s 0.0211472
mu 1
gy 1.01
gc 1.01
gi 1.01
tb 0.000607129
tby 0.00287096
gy_obs 0.00995033
gc_obs 0.00995033
gi_obs 0.00995033
tby_obs 0.00287096
Residuals of the static equations:
Equation number 1 : 0
Equation number 2 : 0
Equation number 3 : 0
Equation number 4 : 0
Equation number 5 : 0
Equation number 6 : 0
Equation number 7 : 0
Equation number 8 : 0
Equation number 9 : 0
Equation number 10 : 0
Equation number 11 : 0
Equation number 12 : 0
Equation number 13 : 0
Equation number 14 : 0
Equation number 15 : 0
Equation number 16 : 0
Equation number 17 : 0
Equation number 18 : 0
Equation number 19 : 0
Equation number 20 : 0
Equation number 21 : 0
Equation number 22 : 0
Equation number 23 : 0
Loading 105 observations from arj_data.m
Error in computing likelihood for initial parameter values
Error using print_info (line 55)
The steadystate file did not compute the steady state
Error in initial_estimation_checks (line 69)
print_info(info, DynareOptions.noprint)
Error in dynare_estimation_1 (line 147)
oo_ =
initial_estimation_checks(objective_function,xparam1,dataset_,M_,estim_params_,options_,bayestopt_,oo_);
Error in dynare_estimation (line 70)
dynare_estimation_1(var_list,dname);
Error in uribefinansestson (line 315)
dynare_estimation(var_list_);
Error in dynare (line 120)
evalin('base',fname) ;
Parameter gd enters almost all equations for ss values of endogenous parameters and also enter equation of parameter rstar
rstar = ((1/betta)*(gd^(gammma)))-1;
In finding the posterior mode, Dynare recalculates the steady state of the model at each iteration of the optimization routine based on the newest round of parameters available. rstar is written before check=0 command in ss file. In that case, does rstar take new values for each value of gd or not? If it does not, how can I overcome this problem?