Non-verified rank&Singular Jacobian of the static model
Posted: Mon Aug 03, 2015 12:50 pm
Dear All,
In my log-linearized medium size DSGE model, I receive the following error messages:
There are 23 eigenvalue(s) larger than 1 in modulus
for 17 forward-looking variable(s)
The rank conditions ISN'T verified!
Error using print_info (line 39)
Blanchard Kahn conditions are not satisfied: no stable equilibrium
Error in stoch_simul (line 71)
print_info(info, options_.noprint);
Error in deneme_stoch (line 580)
info = stoch_simul(var_list_);
Error in dynare (line 120)
evalin('base',fname) ;
>> model_diagnostics(M_,options_,oo_)
The following endogenous variables aren't present at the current period in the model:
KN
KD
model_diagnostic: the Jacobian of the static model is singular
there is 1 colinear relationships between the variables and the equations
Colinear variables:
YN
U
KN
L_N
YD
KD
LD
RK
WN
pN
WD
pD
K
N
C
CT
CN
CD
CM
pT
pM
I
ID
IM
p_I
LAMBDA
Q
CDSTAR
X
ZIE
P
S
Uc
AUX_ENDO_LAG_6_1
AUX_ENDO_LAG_9_1
Colinear equations
21 22 65
As Blanchard Kahn conditions are not satisfied, I guess the problem is about the values of the parameters (I have checked each equation and log-linearization process several times).
Any advice to handle the problem is appreciated!
Thanks,
In my log-linearized medium size DSGE model, I receive the following error messages:
There are 23 eigenvalue(s) larger than 1 in modulus
for 17 forward-looking variable(s)
The rank conditions ISN'T verified!
Error using print_info (line 39)
Blanchard Kahn conditions are not satisfied: no stable equilibrium
Error in stoch_simul (line 71)
print_info(info, options_.noprint);
Error in deneme_stoch (line 580)
info = stoch_simul(var_list_);
Error in dynare (line 120)
evalin('base',fname) ;
>> model_diagnostics(M_,options_,oo_)
The following endogenous variables aren't present at the current period in the model:
KN
KD
model_diagnostic: the Jacobian of the static model is singular
there is 1 colinear relationships between the variables and the equations
Colinear variables:
YN
U
KN
L_N
YD
KD
LD
RK
WN
pN
WD
pD
K
N
C
CT
CN
CD
CM
pT
pM
I
ID
IM
p_I
LAMBDA
Q
CDSTAR
X
ZIE
P
S
Uc
AUX_ENDO_LAG_6_1
AUX_ENDO_LAG_9_1
Colinear equations
21 22 65
As Blanchard Kahn conditions are not satisfied, I guess the problem is about the values of the parameters (I have checked each equation and log-linearization process several times).
Any advice to handle the problem is appreciated!
Thanks,