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