Structural modeling of economic choices of heterogeneous agents



Update: The results of this paper are now generated in an updated repository using a more modern version of HARK, DistributionOfWealth. Any followup work should build on the updated code in that repository.

The main results in that paper were generated using the Mathematica that can be executed by running from the command line


or by opening the corresponding notebook file ./Code/Matheamtica/DoAll.nb

The Mathematica results have been replicated using the HARK toolkit. See the file in the repo for details.


Carroll, C., Slacalek, J., Tokuoka, K., & White, M. N. (2017). The distribution of wealth and the marginal propensity to consume. Quantitative Economics, 8(3), 977-1020.


Material Source Code

Econ-ARK materials are open source and available to view and clone from GitHub.

View on GitHub