Dynare forums

hi,

i'm trying to compute life-time utility function using specification of infinite sum as it's shown on p.45 of dynare userguide, namely s=u+s(+1) where s is infinite sum and u utility function.
however, there is small trouble. the output is the following
[b]
??? Error using ==> lnsrch1
Some element of Newton direction isn't finite. Jacobian maybe singular or there is a problem with initial values


Error in ==> solve1 at 126
[x,f,fvec,check]=lnsrch1(xold,fold,g,p,stpmax,func,j1,j2,varargin{:});

Error in ==> dynare_solve at 110
[x,info]=solve1(func,x,j1(r(i):r(i+1)-1),j2(r(i):r(i+1)-1),jacobian_flag,varargin{:});

Error in ==> steady_ at 69
[oo_.steady_state,check] = dynare_solve([M_.fname '_static'],...
...


thanks for help
alex

Hi Alex, In your example Dynare fails in finding the steady state. Shouldn't the flow of utilities be discounted?
Best, Stéphane.