I have a linear model and when I try to run ramsey with a linear planner objective function, it crashes.
This is while there is no problem when I use a quadratic function as the planner objective.
Would you mind advising me if there is any way to solve this problem.
The error I get is:
Some element of Newton direction isn't finite. Jacobian maybe singular or there is a
problem with initial values
Thank you
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Ramsey Optimal Policy
by marzie » Tue Oct 23, 2012 1:56 pm
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Re: Ramsey Optimal Policy
by SébastienVillemot » Mon Nov 12, 2012 3:00 pm
Looks like your model does not have a unique steady state.
If you want more detailed advice, you have to post your MOD-file.
If you want more detailed advice, you have to post your MOD-file.
Sébastien Villemot
Economist at OFCE – Sciences Po
Economist at OFCE – Sciences Po
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