Hey folks,
I have a very simple monetary model. I solved analytically for the steady state. But I always get the error, that Dynare could not find the steady state. Could anyone please help me?
The model is taken from this lecture:
http://www.dt.tesoro.it/export/sites/si ... cture3.pdf
The problem is solved, when I use a log-linearized version. Why?
All best,
Daniel
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Monetary New Keyesian Model
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Monetary New Keyesian Model
by Daniel Bendel » Mon Apr 29, 2013 7:27 am
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Germany, Cologne
- Daniel Bendel
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Re: Monetary New Keyesian Model
by Daniel Bendel » Mon Apr 29, 2013 8:56 am
Okay, I found the mistake by myself. First, in the Taylor-Rule for the monetary authority, the PI+1 have to be just PI. Second, the steady state for B and TAX was wrong. If one of you is interested in the right code, just ask.
Germany, Cologne
- Daniel Bendel
- Posts: 134
- Joined: Tue Nov 15, 2011 1:06 pm
- Location: Cologne, Germany
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