Hi, in my DSGE model of open economy and remittances, i have a problem, Dynare show this:
STEADY: numerical initial values incompatible with the following equations
6 7
??? Error using ==> dynare_solve
exiting ...
Error in ==> steady_ at 124
[oo_.steady_state,check] = dynare_solve([M_.fname '_static'],...
Error in ==> steady at 52
steady_;
Error in ==> modelo6 at 145
steady;
Error in ==> dynare at 132
evalin('base',fname) ;
please helpme.
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PROBLEMS OPEN ECONOMY
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PROBLEMS OPEN ECONOMY
by saulo » Thu Feb 18, 2010 10:08 pm
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Re: PROBLEMS OPEN ECONOMY
by FLeGrand » Fri Feb 19, 2010 9:57 am
You need to define proper initial values in your initval block, and notably for your variables lt and lnt.
More generally, as long as dynare reports a bug with "STEADY", you have to work more on your initial values (of the initval bliock) to help dynare to find a correct steady state (nad thus be able to start simulations).
More generally, as long as dynare reports a bug with "STEADY", you have to work more on your initial values (of the initval bliock) to help dynare to find a correct steady state (nad thus be able to start simulations).
- FLeGrand
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