Dear friends,
I am having problems replicating Benes et. al. (2014) in Dynare for Matlab. Using the original calibration which is provided by the paper I have this problem "Blanchard Kahn conditions are not satisfied: no stable equilibrium". When I lower the value of the parameter "Beta" to 0,00001 it starts running.
Can you please help me??!! It is really urgent!
Thank you!!
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Problem replication Benes et.al. (Urgent!!)
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Problem replication Benes et.al. (Urgent!!)
by nicofernandezl » Tue Sep 15, 2015 7:41 pm
- Attachments
-
Benes_Berg_Portillo_Vavra_2014.pdf- The Paper with the model
- (1.26 MiB) Downloaded 105 times
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- tpfinal.mod
- Mod File
- (2.56 KiB) Downloaded 57 times
- nicofernandezl
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Re: Problem replication Benes et.al. (Urgent!!)
by jpfeifer » Tue Sep 15, 2015 8:45 pm
This sounds like a timing mistake. Try identifying the predetermined stocks in that model and check whether you correctly entered them.
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