HST codes from Practicing Dynare

[winifred]

I was trying to run the codes of Hansen, Sargent, and Tallarini (1999) from the chapter 9 of Practicing Dyanre (2007).

However, the errors show as below:

SOLVE: maxit has been reached
Initial value of the log posterior (or likelihood): -101267764.8099
Error in computing likelihood for initial parameter values
??? Error using ==> print_info at 30
Impossible to find the steady state. Either the model doesn't have a unique steady state of the guess values are too far from the solution

Error in ==> initial_estimation_checks at 27
print_info(info)

Error in ==> dynare_estimation at 249
initial_estimation_checks(xparam1,gend,data);

Error in ==> HSTML at 151
dynare_estimation(var_list_);

Error in ==> dynare at 26
evalin('base',fname) ;


Please help me sort it out. Many thanks.

Winifred