Steady state computation

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Steady state computation

Postby djghei » Wed Dec 23, 2015 6:25 am

Hi
I am trying to replicate Guajardo (2008) paper in Dynare.
Attached herewith is the mod file and the steady state file.

The computation gives an error that steady state file did not compute the steady state.
While going through the previous posts, I realized that the non zero residuals imply that the equations might be incorrect. I have checked for the equations as well and didn't find any mistake.

Could it be because of some other reason why some of the equations do not have non-zero residuals?
Can you suggest a fix for this problem?
Attachments
guajardo2008_steadystate.m
(2.73 KiB) Downloaded 161 times
guajardo2008.mod
(4.2 KiB) Downloaded 179 times
djghei
 
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Re: Steady state computation

Postby jpfeifer » Wed Dec 23, 2015 9:01 am

In this case you need to check your steady state computation. Why are you allowed to fix
Code: Select all
H           = 0.27;
?
------------
Johannes Pfeifer
University of Cologne
https://sites.google.com/site/pfeiferecon/
jpfeifer
 
Posts: 6940
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Location: Cologne, Germany

Re: Steady state computation

Postby djghei » Thu Jan 07, 2016 11:13 am

Many thanks for your early reply.

The problem, that I run into after putting HX as model determined and H = HX+HN, is that I am running into circles.

With HX being a function of CM, and CM being a function of HN, and HN function of H (i.e. HX+HN)
Thus, there is no computation possible as one of the variables remains not defined in one of the steady state equations.

Could you please suggest a possible solution to this?
djghei
 
Posts: 2
Joined: Sat Apr 11, 2015 2:40 pm

Re: Steady state computation

Postby jpfeifer » Sun Jan 10, 2016 4:08 pm

Try looking at the bigger picture. You must have as many equations as unknowns. If that is not the case, your doing something wrong.
------------
Johannes Pfeifer
University of Cologne
https://sites.google.com/site/pfeiferecon/
jpfeifer
 
Posts: 6940
Joined: Sun Feb 21, 2010 4:02 pm
Location: Cologne, Germany


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