I am working on my Econ Honor Thesis. I am having a problem with these four variables: wphat, lphat, wdhat, and ldhat. (this is a slimmed down version of just the equations that I am having difficulty with, on there own they have no economic significance.)
I have attached the code below. I am uncertain how to move forward following the error codes I am getting. Any help would be greatly appreciated.
Thank you!
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An element of the Jacobian is not finite or NaN
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An element of the Jacobian is not finite or NaN
by diatrochoi » Wed Dec 03, 2014 3:26 am
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Re: An element of the Jacobian is not finite or NaN
by jpfeifer » Wed Dec 03, 2014 10:21 am
You need an initval-block. Without it, Dynare takes all intial values to be 0. But equation 4 is
If wdhat is 0, you are dividing by 0.
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ldhat=(.64-1)/wdhat; //%patient labor demand development
If wdhat is 0, you are dividing by 0.
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