macroeconomist wrote:Hi,
I am using an extension of the above mentioned paper, but to start out I am trying to reproduce a very very simplified form (patient and impatient households with only land as a factor of production and credit constraints) of the original model with Dynare. I have written the mod file, but when I run it, I am getting the following errors:
Maximum number of iterations reached:
increase options.MaxIter.
??? Error using ==> steady_ at 77
STEADY: convergence problems
Error in ==> steady at 52
steady_;
Error in ==> KM1 at 114
steady;
Error in ==> dynare at 102
evalin('base',fname) ;
What does this mean? Can somebody help? I have attaced my mod file.
ERROR: RBC.mod:24.8-12: To use an external function (k) within the model block, you must first declare it via the external_function() statement.
??? Error using ==> dynare at 122
DYNARE: preprocessing failed
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