complex numbers and the steady sate computing

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complex numbers and the steady sate computing

Postby abman10 » Mon May 02, 2016 7:00 pm

Hi,

I am trying to simulate a DSGE model that includes a labour augmenting-deterministic growth. After detrending all variables, i used Dynare to compute the solution. However, Dynare is not able to compute steady sate values for my model. I guess so that the problem might be due to complex numbers. My question: Does dynare gnerate or accept no real values for the steady-state?

To see my problem more, you find two files attached.

Thanks a lot
Attachments
MSSF_steadystate.m
steady state file
(3.76 KiB) Downloaded 122 times
MSSF.mod
Model
(12.09 KiB) Downloaded 143 times
abman10
 
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Re: complex numbers and the steady sate computing

Postby jpfeifer » Fri May 06, 2016 7:56 am

When using a steady state file, you are providing the steady state numbers and Dynare only checks whether they are consistent with the entered model equations. In your case, they are not. Some of the computations you have at the beginning of your mod-file (which actually should be inside of the steady_state file to make sure parameter dependencies are always correctly handled) result in complex numbers. In my years in economics, I have never encountered a case where complex parameters or variables made economic sense. For that reason, Dynare does not accept complex values when solving models.

Summary: your computations are most probably wrong as they result in complex numbers.
------------
Johannes Pfeifer
University of Cologne
https://sites.google.com/site/pfeiferecon/
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Re: complex numbers and the steady sate computing

Postby abman10 » Mon May 16, 2016 5:07 am

First, i am sorry for my delayed response. I have found my mistake. I have not correctly computed some model equations.

Thanks a lot!!
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Joined: Thu Jan 15, 2015 3:22 am


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