Materials
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Material  Authors  Abstract 

Aiyagari (1994) Replication 

Alternative Combinations of Parameter Values of the cstwMPC model 

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". 

This adds some PhD student problems to the BufferStockTheory repo 

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... 

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/articleabstract/18/2/491/1599892) 

What Happens To the Consumption Function When A Liquidity Constraint is Tightened? 

Do Precautionary Motives Explain China's High Saving Rate? 

ConsAggShockModel Documentation 

ConsGenIncProcessModel Documentation 

ConsIndShock Documentation 

ConsLaborModel Documentation 

ConsMarkovModel Documentation 

ConsMedModel Documentation 

ConsPortfolioModel Documentation 

ConsPrefShockModel Documentation 

ConsRepAgentModel Documentation 

ConsRiskyContribModel Documentation 

ConsSequentialPortfolioModel Documentation 

DCEGM Upper Envelope 

The Diamond OLG Model 

‘Epidemiological’ models of belief formation put social interactions at their core; such models are the main (almost, the only) tool used by noneconomists to study the dynamics of beliefs in... 

The Fisher TwoPeriod Optimal Consumption Problem 

A Gentle Introduction to Buffer Stock Saving 

A Gentle Introduction to HARK In Perfect Foresight 

A Gentle Introduction to HARK for Economists 

Demonstrates that the Harmenberg method speeds up calculations by as much as a factor of 100. 

The Persistent Shock Model and Income Expectations 

IndShockConsumerType Documentation 

Introduction: Keynes, Friedman, Modigliani 

KinkedRconsumerType Documentation 

Income and wealth heterogeneity in the macroeconomy 

This notebook examines the relationship between expected and actual income growth in a model with transitory and permanent shocks 

The Life Cycle Model: Theory vs Data 

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... 

A demonstration of the Lucas AssetPricing model 

The MPC out of Credit vs the MPC Out of Income 

Micro and Macroeconomic Implications of Very Impatient Households 

Micro and Macroeconomic Implications of Very Impatient Households 

Spending on Nondurables During the Great Recession 

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... 

Perfect Foresight CRRA Model  Approximation 

Perfect Foresight CRRA Model  Savings Rate 

PerfForesightConsumerType Documentation 

Optimal Financial Investment over the Life Cycle  Blog Post 

A TwoAsset Savings Model with an IncomeContribution Scheme 
This paper develops a twoasset consumptionsavings model and serves as the documentation of an opensource implementation of methods to solve and simulate it in the HARK toolkit. The model represents... 

Solution Methods for Microeconomic Dynamic Stochastic Optimization Problems 
These notes describe tools for solving microeconomic dynamic stochastic optimization problems, and show how to use those tools for efficiently estimating a standard life cycle consumption/saving model using microeconomic data.... 

Making Structural Estimates From Empirical Results 

The Tractable Buffer Stock Model 

TractableBufferStockModel Documentation 

Sticky Expectations and Consumption Dynamics. 

Do Precautionary Motives Explain China's High Saving Rate? 

Analytically tractable model of the effects of nonfinancial risk on intertemporal choice 

Replication of Paper X 