1. Real Business Cycle (RBC) Model
A standard DSGE model with aggregate productivity shocks and endogenous labor supply, calibrated at quarterly frequency and solved using global methods. The framework is used to study business cycle dynamics and alternative tax financing schemes.
Features:
– Endogenous labor supply
– Capital accumulation
– Multiple fiscal closures
– Welfare analysis (CEV)
Links:
– Model note (PDF)
– Fortran code (module + main program)
2. Bewley-Huggett-Aiyagari (BHA) Model (in progress)
A heterogeneous-agent DSGE model with idiosyncratic labor income risk and incomplete markets, used to study precautionary saving, distributional dynamics, and fiscal policy.
Features:
– Idiosyncratic productivity risk
– Borrowing constraints
– Stationary equilibrium computation
– Distributional statistics
Links:
– Draft note
– Fortran code (module + main program)
3. New Keynesian (NK) Model (planned)
A DSGE model with nominal rigidities, monetary policy rules, and fiscal policy interactions, designed for policy analysis and stabilization exercises.
Features:
– Price and wage stickiness
– Taylor rule
– Fiscal–monetary interactions
– Comparison with RBC benchmark