ConSav: Consumption-Saving Models

A code library for solving and simulating consumption-saving models in Python using Numba JIT compiled functions. The consav package provides:

• A Model class with predefined methods for e.g. saving and loading derived from the EconModel package
• A multi-linear interpolation module
• Optimizers such as golden section search and newton-raphson
• An upper envelope function for using the endogenous grid point method in non-convex models

All of the above is written to be Numba compatible.

The repository ConsumptionSavingNotebooks contains a number of examples on using the various tools and two models:

• The canonical buffer-stock consumption model
• A durable consumption models with non-convex adjustment costs

The library builds on the model class in EconModel. The repository EconModelNotebooks contains a number of examples on using this underlying model class.

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Installation

The package can be installed with

pip install EconModel
pip install ConSav

Development

To develop the package follow these steps:

1. Clone this repository
2. Locate the cloned repostiory in a terminal
3. Run pip install -e .

Changes you make to the package is now immediately effective on your own computer.