Ph.D. Topics (AECO803): Quantitative Macro-Labor – Fall 2022

Welcome to AECO 803, a Ph.D. topics course that I’m calling “Quantitative Macro-Labor.” This page (as well as the Blackboard page) will host course content. In addition to posting PDFs of the course material, I will make (to the extent possible) LaTeX code and programs available when used in class. I find that exploring code that others have used is far more helpful than most tutorials. Some material I cannot make available online. If this is the case, please email me. Any other instructors are free to use my material, but please note where it came from and let me know so that I can list it in my activity reports to the College.

Syllabus: link (tex)
Cluster Access: (link)

Homework 1: Solve McCall model link (tex)
Homework 2: Solve DMP model

Introduction/Research Proposal: Write the “introduction” to a paper on a macro-labor question in which you are interested. Here is some advice that I have aggregated from others: link, tex

Lecture 1: Introduction (link, tex, figures)
Lecture 2: Income Processes (link, tex, figures)
Lecture 3: Panel Data and Empirical Regularities (link, tex, figures)
Lecture 4: Introduction to Frictional Labor Markets: The McCall Model (link, tex, figures)
Lecture 5: Comparative Statics and Measuring Wage Dispersion in Frictional Models: The McCall Model (link, tex, figures)
Lecture 6: On-the-Job Search in Partial Equilibrium Models (link, tex, figures)
Lecture 7: Wage-Tenure Contracts (Burdett and Coles, 2003) (link, tex, figures)
Lecture 8: Sequential Auctions (Postel-Vinay and Robin, 2002) (link, tex, figures)
Lecture 9: The DMP Model (link, tex, figures)
Lecture 10: Part Time Endogenous Separations (link, tex, figures)
Lecture 11: Efficiency and the Hosios Condition (link, tex)
Lecture 12: Directed Search (link, tex, figures)
Lecture 13: The Block Recursive Equilibrium (link, tex, figures)
Lecture 14: Local Numerical Solution Techniques (link, tex, figures)
Lecture 14: (Supplement A): Linearizing Hansen (1985)
Lecture 14: (Supplement B): Solving Hansen (1985)
Lecture 15: Global Numerical Solution Techniques (link, tex, figures)
Lecture 16: The Income Fluctuation Problem (link, tex)
Lecture 17: Heterogeneous Agent Models (link, tex, figures)
Special Lecture: Affirmative Action and Beliefs (link)
Lecture 18: Solving Heterogeneous Agent Models I (link, tex, figures)
Lecture 19: Heterogeneous Agent Models II (link, tex, figures)
Lecture 20: Matching Models with Heterogeneity I (link, tex, figures)
Lecture 21: Matching Models with Heterogeneity II
Lecture 22: DSGE Estimation
Presentations 11/29 and 12/1.

Programs (I’ll update these as I clean them):
Access the shared folders on the campus cluster or see me/email me directly.

Here are some other great resources for class materials:
Gianluca Violante’s course on quantitative macroeconomics: link
Jesus Fernandez-Villaverde’s slides on computational techniques: link
Makoto Nakajima’s notes on solution techniques: link
Daron Acemoglu and David Autor lectures on labor economics: link
Chris Tonetti’s write-up on income processes: link
Useful review of linearization: link

Here are other useful resources for programming or data:
Tom Sargent and John Stachurski’s website on dynamic macroeconomics in Python and Julia: link
Anaconda Python: link
CEPR SIPP webpage: link
IPUMs CPS webpage: link
Anthony Damico’s website on survey data: link
SIPP FTP and data definitions: link

And other fun material:
Inspirational Teddy Roosevelt Quotes: link