Computation lab
Computation lab
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Global nonlinear solutions for the business cycle models
Global nonlinear solutions for the business cycle models
This space is for sharing codes to solve various business cycle (DSGE) models using the repeated transition method.
The codes will be constantly updated, and your contribution is welcome.
When you use the following codes for your works, please cite my paper,
"Dynamically Consistent Global Nonlinear Solutions in the Sequence Space: Theory and Applications." [link for the main repository]
Citation (roll down)
Lee, Hanbaek. 2025. "Dynamically Consistent Global Nonlinear Solutions in the Sequence Space: Theory and Applications." Working paper
Bibtex
@article{Lee_RTM_2025,
title={Dynamically Consistent Global Nonlinear Solutions in the Sequence Space: Theory and Applications},
author={Lee, Hanbaek},
journal={Working paper},
year={2025}
}
Representative-agent RBC models
A Plain-vanilla RBC model [link]
An RBC model with Frisch labor supply [link]
An RBC model with Frisch labor supply and GHH utility [link]
An RBC model with asset price [link]
An RBC model with irreversible investment [link]
An RBC model with irreversible investment and Frisch labor supply [link]
An RBC model with endogenous labor supply, irreversible investment, and fiscal spending shock [link]
An RBC model with asset price and irreversible investment [link]
An RBC model with asset price, irreversible investment, and Frisch labor supply [link]
An RBC model with asset price, convex adjustment cost, and two aggregate shocks [link]
Heterogeneous-agent RBC models
A heterogeneous-firm RBC model with irreversible investment [link]
A heterogeneous-household RBC model of portfolio choice (Krusell and Smith, 1997) with endogenous labor supply [link]
Krusell and Smith (1998) [link]
Krusell and Smith (1998) with endogenous labor supply [link]
Krusell and Smith (1998) with endogenous labor supply (Frisch elasticity) [link]
Krusell and Smith (1998) with endogenous labor supply (Frisch elasticity) and convex adjustment cost [link]
Krusell and Smith (1998) with endogenous labor supply and an uncertainty shock (Krusell and Smith (1998) meets Bloom et al., (2018)) [link]
Krusell and Smith (1998) with endogenous labor supply, investment irreversibility, and fiscal spending shock [link]
Khan and Thomas (2008) [link]
Khan and Thomas (2008) with a convex adjustment cost [link]
Search-and-match models
A canonical DMP model with exogenous separation [link]
[Coming soon] A DMP model with productivity heterogeneity and endogenous separation (Lee, Zanetti, and Schnattinger, 2024)
New Keynesian models
A canonical New Keynesian model (Rotemberg) with three shocks: TFP, Preference, and Monetary policy shocks [link]
[Coming soon] Global Nonlinear Equilibrium Dynamics and the Zero Lower Bound (Lee and Nomura, 2024)
Sample codes for models in stationary environments
Sample codes for models in stationary environments
This space is for sharing codes to solve various models in a stationary environment.
The codes will be constantly updated, and your contribution is welcome.
The codes are all based on the stationary equivalent of the nonlinear global solution method, which efficiently handles the individual occasionally-binding constraints.
When you use the following codes for your works, please cite my paper,
"Dynamically Consistent Global Nonlinear Solutions in the Sequence Space: Theory and Applications." [link for the main repository]
Heterogeneous-agent models
Aiyagari (1994) [link]
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