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Extension to basic McCall model -- response to volatility (#707) #709

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Nov 16, 2025
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Extension to basic McCall model -- response to volatility (#707) #709

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Add continuous distribution and volatility analysis to McCall model (…
jstac Nov 16, 2025
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misc
jstac Nov 16, 2025
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misc
jstac Nov 16, 2025
905151e
Add lifetime value analysis for volatility in McCall model
jstac Nov 16, 2025
326b343
Simplify lifetime value simulation to fixed 100 periods
jstac Nov 16, 2025
e609076
misc
jstac Nov 16, 2025
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misc
jstac Nov 16, 2025
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2 changes: 1 addition & 1 deletion lectures/mccall_fitted_vfi.md
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Expand Up @@ -44,7 +44,7 @@ $$

and $\{Z_t\}$ is IID and standard normal.

While we already considered continuous wage distributions briefly in Exercise {ref}`mm_ex2` of the {doc}`first job search lecture <mccall_model>`, the change was relatively trivial in that case.
While we already considered continuous wage distributions briefly in {doc}`mccall_model`, the change was relatively trivial in that case.

The reason is that we were able to reduce the problem to solving for a single scalar value (the continuation value).

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