by Ale_e_Andre » Mon Sep 23, 2013 5:37 pm
Hi everybody.
I am trying to modify the Gerali's paper by introducing an SPV involved in a securitization process. I used the same approach of the paper.
I slightly modified the program "GNSS_P3_version2.mod" posted by somekindofgrinder, but after running Dynare I have this error:
SOLVE: maxit has been reached
SOLVE: maxit has been reached
SOLVE: maxit has been reached
Error in computing likelihood for initial parameter values
??? Error using ==> print_info at 57
Impossible to find the steady state. Either the model doesn't have a
steady state, there are an infinity of steady states, or the guess values
are too far from the solution
Error in ==> initial_estimation_checks at 69
print_info(info, DynareOptions.noprint)
Error in ==> dynare_estimation_1 at 169
oo_ =
initial_estimation_checks(objective_function,xparam1,dataset_,M_,estim_params_,options_,bayestopt_,oo_);
Error in ==> dynare_estimation at 70
dynare_estimation_1(var_list,dname);
Error in ==> newbankingSPV at 819
dynare_estimation(var_list_);
Error in ==> dynare at 120
evalin('base',fname) ;
The question is:
do you think that there is a bug in my program, as well as in my theoretical model, or the only problem stays in wrong initial values?
I am a beginner of Dynare, so I really appreaciate all kind of hints.
Thank you very much in advance for an eventual reply.
I attach the file .mod, the m. file with data and a short note to explain what I have done.
- Attachments
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- NotesBanking_SPV.pdf
- (179.76 KiB) Downloaded 161 times
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- datacolumn.m
- (10.48 KiB) Downloaded 97 times
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- newbankingSPV.mod
- (36.01 KiB) Downloaded 108 times