MJDGGES returns the following error code: 6

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MJDGGES returns the following error code: 6

Postby John123 » Fri Dec 03, 2010 10:54 am

I'm a beginner working with Dynare and trying to estimate a new keynesian model, but always get this error code:

MJDGGES returns the following error code: 6

I'm not sure, if the error occurs, because of i specified wrong steady state vlaues or if the model itself is wrong. Changing the parameters and the steady state values doesn't remove the error.
I'm using the STEADY_STATE operator and think, i missspecified something. Does anybody of you find the error?
Thank your for your help
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Re: MJDGGES returns the following error code: 6

Postby jpfeifer » Sat Dec 04, 2010 8:17 am

Delete the inital values. Your model is linear and hence the steady state is 0 for all variables. And most importantly, in the parameter declaration, change the
phi_phi=1.5;
to
phi_pi=1.5;
as it is meant to be.
------------
Johannes Pfeifer
University of Cologne
https://sites.google.com/site/pfeiferecon/
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Re: MJDGGES returns the following error code: 6

Postby John123 » Mon Dec 06, 2010 8:06 am

Thank you very mucht for your help!
Now it works without any problems
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