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Cocco, Gomes, & Maenhout (2005), "Consumption and Portfolio Choice Over the Life Cycle"

A replication by Mateo Velásquez-Giraldo and Matthew Zahn.

Quick launch: the following link launches a Jupyter notebook with the main results. Binder

Description

This repository corresponds to the Final assignment of the course Advanced Macroeconomics I at Johns Hopkins University, by Professor Christopher D. Carroll.

We upload our entire work environment to show we replicated the framework exemplified by the Buffer Stock Theory paper to our best ability, as required. However, most users will find all the materials relevant to them in the folder CGMPort-Shared (or CGMPort-Public).

Location of main files:

  1. A notebook attempting to replicate the paper's main results using HARK can be found at CGMPort-Public/Code/Python/CGM_REMARK.ipynb.

  2. A document going into more detail on our attempt to replicate can be found at CGMPort-Public/CGMPort.pdf.

  3. The code that generates all the figures and results in the previous document can be found at CGMPort-Public/Code/Python. Files can be run independently, or all at once through the script CGMPort-Public/Code/Python/do_ALL.

  4. The original Fortran 90 code made available by the authors can be found in CGMPort-Public/Code/Fortran.

  5. A bash script that produces all the results and generates all the documents can be found in CGMPort-make/doEverything.sh.

Package requirements

The following packages are required for executing the REMARK notebook:

  • matplotlib
  • numpy
  • scipy
  • pandas
  • econ-ark >= 0.10.3

For executing do_ALL.py additional requirements are:

  • seaborn