Dear all,
I´m trying to figure out the correct (and best) way to pass the initial values for steady state when using the "ramsey_policy" procedure. I´m attaching two mod files with different forms I´m trying to implement this (I tried to pass the “optimal_policy_model_vx_steady_state.m” file, but it was not recognized).
The attached .m files compute the steady state in the competitive equilibrium and the "ramsey steady state" given a value for the policy instrument (taun in this case).
None of these options give me a solution (which might be a problem of the parameterization). But when I look at oo_.steady_state I get only zeros using "_v10.mod", while with "_v9.mod" at least I get the steady state values of the endogenous variables, though the steady state of the lagrange multipliers are still zero (is this occuring because under this parameterization the model violates B-K conditions?).
I´d be very happy if someone could give a clue on what I´m doing wrong.
Thanks in advance for your help.
Best regards.