Materials
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Material | Authors | Abstract |
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Alternative Combinations of Parameter Values |
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This paper builds theoretical foundations for rigorous and intuitive understanding of 'buffer stock' saving models, pairing each theoretical result with a quantitative exploration. After describing conditions under which the consumption... |
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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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DCEGM Upper Envelope |
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The Diamond OLG Model |
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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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The Persistent Shock Model and Income Expectations |
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Introduction: Keynes, Friedman, Modigliani |
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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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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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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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Making Structural Estimates From Empirical Results |
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The Tractable Buffer Stock Model |
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Sticky Expectations and Consumption Dynamics. |
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