Sticky Expectations and Consumption Dynamics

cAndCwithStickyE is a Reproduction¶

This is a reproduction of the results in the paper “Sticky Expectations and Consumption Dynamics” by Carroll, Crawley, Slacalek, Tokuoka, and White. The html version contains links to resources including the PDF version, the presentation slides, a repo containing the paper and code, and related material

The root directory contains three files:

• do_min.py executes the representative agent version of the model
• do_mid.py reproduces some of the core results of the paper
• do_all.py reproduces all computational results in the paper

Any of these can be run using ipython from the command line, for example:

ipython do_min.py

In all cases, there should be a message that indicates how long it takes to run the code on a particular computer with a particular configuration.

References¶

Carroll, C. D., Crawley, E., Slacalek, J., Tokuoka, K., & White, M. N. (2020). Sticky expectations and consumption dynamics. American economic journal: macroeconomics, 12(3), 40-76.