Materials
The following list of links filter and update content in the table below.
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Material | Authors | Abstract |
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Alternative Combinations of Parameter Values of the cstwMPC model |
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Code that solves models from the paper of Bayer and Luetikke, "Solving heterogeneous agent models in discrete time with many idiosyncratic states by perturbation methods". |
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This adds some PhD student problems to the BufferStockTheory repo |
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This paper builds foundations for rigorous and intuitive understanding of `buffer stock' saving models (Bewley (1977)-like models with a wealth target), pairing each theoretical result with quantitative illustrations. After describing... |
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REMARK: Consumption and Portfolio Choice Over the Life Cycle |
This REMARK is an attempt to reproduce the main results of Cocco, Gomes, & Maenhout (2005), 'Consumption and Portfolio Choice Over the Life Cycle' (https://academic.oup.com/rfs/article-abstract/18/2/491/1599892) |
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What Happens To the Consumption Function When A Liquidity Constraint is Tightened? |
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Do Precautionary Motives Explain China's High Saving Rate? |
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ConsAggShockModel Documentation |
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ConsGenIncProcessModel Documentation |
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ConsIndShock Documentation |
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ConsLaborModel Documentation |
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ConsMarkovModel Documentation |
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ConsMedModel Documentation |
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ConsPortfolioModel Documentation |
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ConsPrefShockModel Documentation |
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ConsRepAgentModel Documentation |
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ConsRiskyContribModel Documentation |
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ConsSequentialPortfolioModel Documentation |
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DCEGM Upper Envelope |
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The Diamond OLG Model |
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‘Epidemiological’ models of belief formation put social interactions at their core; such models are the main (almost, the only) kind of tool used by scholars who are not economists to... |
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The Fisher Two-Period Optimal Consumption Problem |
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A Gentle Introduction to Buffer Stock Saving |
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A Gentle Introduction to HARK In Perfect Foresight |
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A Gentle Introduction to HARK for Economists |
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Demonstrates that the Harmenberg method speeds up calculations by as much as a factor of 100. |
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The Persistent Shock Model and Income Expectations |
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IndShockConsumerType Documentation |
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Introduction: Keynes, Friedman, Modigliani |
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KinkedRconsumerType Documentation |
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Income and wealth heterogeneity in the macroeconomy |
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This notebook examines the relationship between expected and actual income growth in a model with transitory and permanent shocks |
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The Life Cycle Model: Theory vs Data |
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We provide the analytical explanation of strong interactions between precautionary sav- ing and liquidity constraints that are regularly observed in numerical solutions to consump- tion/saving models. The effects of constraints... |
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A demonstration of the Lucas Asset-Pricing model |
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The MPC out of Credit vs the MPC Out of Income |
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Micro- and Macroeconomic Implications of Very Impatient Households |
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Micro- and Macroeconomic Implications of Very Impatient Households |
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Spending on Nondurables During the Great Recession |
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To predict the effects of the 2020 U.S. CARES Act on consumption, we extend a model that matches responses of households to past consumption stimulus packages. The extension allows us... |
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Perfect Foresight CRRA Model - Approximation |
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Perfect Foresight CRRA Model - Savings Rate |
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PerfForesightConsumerType Documentation |
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Optimal Financial Investment over the Life Cycle - Blog Post |
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A Two-Asset Savings Model with an Income-Contribution Scheme |
This paper develops a two-asset consumption-savings model and serves as the documentation of an open-source implementation of methods to solve and simulate it in the HARK toolkit. The model represents... |
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Making Structural Estimates From Empirical Results |
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The Tractable Buffer Stock Model |
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TractableBufferStockModel Documentation |
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Sticky Expectations and Consumption Dynamics. |
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Do Precautionary Motives Explain China's High Saving Rate? |
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