Dynare forums

please help me .I am a green hand in Dynare.
Maybe there are some negligent settings in my mod file.Dynare seems not to known some parameters need estimating.the equations containing estimated parameters all have a "NaN"Residuals.
my mod file is attached,please !
the error is :
Residuals of the static equations:

Equation number 1 : NaN
Equation number 2 : 0
Equation number 3 : 0
Equation number 4 : 0
Equation number 5 : 0
Equation number 6 : 0
Equation number 7 : 0
Equation number 8 : 0
Equation number 9 : 0
Equation number 10 : 0
Equation number 11 : NaN
Equation number 12 : NaN
Equation number 13 : NaN
Equation number 14 : 0
Equation number 15 : 0
Equation number 16 : 0
Equation number 17 : 0
Equation number 18 : 0
Equation number 19 : 0
Equation number 20 : 0
Equation number 21 : 0
Equation number 22 : 0
Equation number 23 : 0
Equation number 24 : 0
Equation number 25 : 0
Equation number 26 : 0
Equation number 27 : 0
Equation number 28 : 0
Equation number 29 : NaN
Equation number 30 : 0
Equation number 31 : 0
Equation number 32 : 0
Equation number 33 : 0
Equation number 34 : 0
Equation number 35 : NaN
Equation number 36 : NaN
Equation number 37 : NaN
Equation number 38 : 0
Equation number 39 : 0
Equation number 40 : 0
Equation number 41 : 0
Equation number 42 : NaN
Equation number 43 : NaN
Equation number 44 : NaN
Equation number 45 : NaN
Equation number 46 : NaN
Equation number 47 : NaN
Equation number 48 : NaN
Equation number 49 : NaN
Equation number 50 : NaN
Equation number 51 : NaN


STEADY: numerical initial values or parameters incompatible with the following equations
1 11 12 13 29 35 36 37 42 43 44 45 46 47 48 49 50 51

Check whether your model in truly linear
Error using print_info (line 80)
The steady state contains NaN or Inf

You cannot use commands that rely on set parameters/a fully calibrated model when only estimating those parameters, but not initializing them. You call

Code: Select all

check

, which checks the Blanchard-Kahn conditions of the model. But that model is not yet complete, because you did not set alpha, but rather you are going to estimate it later. What you should always do is fully calibrate the model first and only then estimate the model.

IMPORTANT: your model does not take parameter dependence correctly into account. That can result in wrong estimation results. See the corresponding remark in Pfeifer(2013): "A Guide to Specifying Observation Equations for the Estimation of DSGE Models" https://sites.google.com/site/pfeiferecon/Pfeifer_2013_Observation_Equations.pdf for details.