Replication Seminar, "Numerical Methods for Solving Heterogeneous Agents Models""

Presentation | April 4 | 12-2 p.m. | 639 Evans Hall

 Alisdair McKay, Senior Research Economist, Federal Reserve Bank of Minneapolis

 Clausen Center

I will cover two building blocks o fsolution methods for heterogenous agent macroeconomics: the endogenous grid method and non-stochastic simulation. I will describe how these two tools can be combined to solve for the stationary equilibrium, perfect foresight transitions, and fluctuations under uncertainty (Reiter method). I will focus on simple settings (e.g. Aiyagari 1994, Krusell-Smith 1998), but will also discuss how to extend the methods to models with nominal rigidities.

 Please RSVP:

  RSVP by emailing Joseph G. Mendoza at jgmendoza@berkeley.edu

 jgmendoza@berkeley.edu, 510-663-9044

 Numerical Methods for Solving Heterogeneous Agents Models