CAUTION: this repo is out of date.

in fact, the most recent code does not work. there is a version that works burried somewhere in the tree, but that will only work with an old julia version. This repo is ARCHIVED. in short - hands off this code.

INSTEAD: go checkout the new version of this!!!!!

new version is here: https://github.com/floswald/DCEGM.jl

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archived stuff from here on:

Consumption / Savings / Discrete Choice Problems

1. Installation
2. Standard Lifecycle Savings
3. Lifecycle Savings with discrete Retirement choice
4. License

1. Installation

# in Julia:
Pkg.clone("https://github.com/floswald/ConsProb.jl")

2. Standard Lifecycle Savings

this repo has julia code that computes the solution to a finite time savings problem with iid or AR1 income uncertainty using 3 different methods:

1. value function backward iteration
2. euler equation backward iteration
3. endogenous grid method

3. Lifecycle Savings with discrete Retirement choice

It also has julia implementation of the discrete choice model which is based on code from Fedor Iskhakov's github. This implements the method in the working paper by Iskhakov, Jorgensen, Rust and Schjerning

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example

using ConsProb
Plotting.doplots()
Plotting.printplots(dir)

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Output Savings Models

iid income model, values at all ages:

iid income model, consumption at all ages:

Value functions in AR1 income model, all y-states, age=1:

Consumption functions in AR1 income model, all y-states, age=1:

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Output Discrete Choice/Savings Model

In this section, dashed lines in a graph stand for an analytic solution in that region (i.e. no approximation to be done).

Conditinonal Value functions:

Envevelope over consumption functions, all ages:

Envevelope over Value functions, all ages:

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4. License

Please observe the license when using this code in your work (see file LICENSE). Thank you.