Run tutorials, interactive model documentation, and small example applications live in your browser using Jupyter notebooks.
A Gentle Introduction to Using HARK
An introduction for first-time users of HARK - and maybe even Python.
China's high net saving rate (approximately 25%) is a puzzle for economists, particularly in light of a consistently high income growth rate.
Non-Durables During Great Recession
At the onset of the Great Recession, there was a large drop (6.32%, according to FRED) in consumer spending on non-durables. Some economists have proffered that this could be attributed to precautionary motives-- a perceived increase in household income uncertainty induces more saving (less consumption) to protect future consumption against bad income shocks. How large of an increase in the standard deviation of (log) permanent income shocks would be necessary to see an 6.32% drop in consumption in one quarter? What about transitory income shocks? How high would the perceived unemployment probability have to be?
Change Liquidity Constraint
What Happens to the Consumption Function When A Liquidity Constraint is Tightened?
Classes to solve canonical consumption-savings models with idiosyncratic shocks to income. All models here assume CRRA utility with geometric discounting, no bequest motive, and income shocks are fully transitory or fully permanent.
Exercises in which the user of the notebook must fill in some material themselves in order to cause the notebook to generate some desired results.