hi, why do I get this error if I have the same number unstable eigenvalues than forward looking variables? what does info=3 mean?
Thanks!!
There are 14 eigenvalue(s) larger than 1 in modulus
for 14 forward-looking variable(s)
The rank conditions ISN'T verified!
info =
3
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info = 3??
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info = 3??
by Peterpierre » Tue Aug 12, 2008 2:15 am
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Re: info = 3??
by StephaneAdjemian » Mon Sep 01, 2008 2:13 pm
Hi,
# unstable eigenvalues == # forward looking variables
is not a necessary and sufficient condition for a unique stable solution. You also need to satisfy a rank condition. Look at slides page 13.
Blanchard & Kahn assume that the rank condition is satisfied (just before proposition 1 page 1308)
Best,
Stéphane.
# unstable eigenvalues == # forward looking variables
is not a necessary and sufficient condition for a unique stable solution. You also need to satisfy a rank condition. Look at slides page 13.
Blanchard & Kahn assume that the rank condition is satisfied (just before proposition 1 page 1308)
Best,
Stéphane.
- StephaneAdjemian
- Posts: 429
- Joined: Wed Jan 05, 2005 4:24 pm
- Location: Paris, France.
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