Specify steady state

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Specify steady state

Postby gracegu06 » Thu Jul 07, 2011 11:40 pm

Hello, I want to specify the value of steady state by myself, instead of dynare calculating them, how can I do that in mod file?
More specifically, I have this below, without command "steady":

initval;
c = number;
g = number;
n = number;
end;

The output says dynare can't solve steady state given initial value provided. But I have the steady states already solved, that is why I want to input them by hand. By what format, should I write the values in mod file?
Thank you!
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Re: Specify steady state

Postby jpfeifer » Fri Jul 08, 2011 8:50 am

Hi, in principle, your way of doing this with initval is correct. Put
Code: Select all
resid(1);

before
Code: Select all
steady;

to see if your manually computed steady state is correct (or if you entered the model correctly to fit the steady state). I would guess it is not...
------------
Johannes Pfeifer
University of Cologne
https://sites.google.com/site/pfeiferecon/
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