Dear all,
I'm trying to work out the Ramsey steady state and FOCs in a model with 7 equations. I get the following error message:
STEADY: numerical initial values incompatible with the following equations
8
Is equation 8 the first Ramsey FOC? With respect to which variable? Are they ordered alphabetically?
See the mod-file in attachment.
Thanks in advance,
Vivien
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Ramsey steady state problem
by ndaab44 » Fri Jan 14, 2011 3:14 pm
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soe_ramsey_0111.mod- (1.79 KiB) Downloaded 99 times
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Re: Ramsey steady state problem
by SébastienVillemot » Mon Jan 24, 2011 5:06 pm
Hi,
The problem is that you initialize variable “g” to zero, and you take the log of it in the planner objective.
Fixing this removes this error message, but the solver is still not converging. You have to figure why.
Best,
The problem is that you initialize variable “g” to zero, and you take the log of it in the planner objective.
Fixing this removes this error message, but the solver is still not converging. You have to figure why.
Best,
Sébastien Villemot
Economist at OFCE – Sciences Po
Economist at OFCE – Sciences Po
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Re: Ramsey steady state problem
by ndaab44 » Tue Jan 25, 2011 8:33 am
Alright - thanks for your help!
Vivien
Vivien
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