Aggregating heterogeneous-agent models with permanent income shocks

DOI10.1016/J.JEDC.2021.104185zbMath1475.91224OpenAlexW3118282261MaRDI QIDQ2246633

Karl Harmenberg

Publication date: 16 November 2021

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jedc.2021.104185

Mathematics Subject Classification ID

Sums of independent random variables; random walks (60G50) Heterogeneous agent models (91B69) Labor markets (91B39)

Cites Work

• Solving the incomplete markets model with aggregate uncertainty using the Krusell-Smith algorithm and non-stochastic simulations
• The method of endogenous gridpoints for solving dynamic stochastic optimization problems
• Modelling Income Processes with Lots of Heterogeneity
• Bayesian Estimates of Equation System Parameters: An Application of Integration by Monte Carlo
• Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis
• The distribution of wealth and the marginal propensity to consume
• Precautionary Savings, Illiquid Assets, and the Aggregate Consequences of Shocks to Household Income Risk
• Consumption Over the Life Cycle

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