Hi Dynare users,
I’m new to Dynare and trying to simulate an open economy OLG model with private and public capital. The following text appears at the end of the simulation and I’m wondering if it means that I’m doing something wrong? Do I need to change the initval? I’m using Dynare 4.3.3 and MATLAB 7.10.0 (R2010a).
SOLVE: maxit has been reached
Thanks,
Andreas
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maxit has been reached
by 4ndr34s » Wed Jul 30, 2014 12:09 pm
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Re: maxit has been reached
by jpfeifer » Wed Jul 30, 2014 12:57 pm
Your model does not converge. Using stoch_simul instead of simul shows that your model is not even locally determinate. My guess is that you are having a problem with the timing of your states.
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