Workshops on Heterogeneous-Agent Macroeconomics
Together with colleagues, I have taught several workshops on heterogeneous-agent macroeconomics and methods, including a workshop held at the NBER in 2022 and 2023 (see all materials for 2023 workshop here) and at Goethe University Frankfurt in 2024 (course materials here). If you want to get started coding basic heterogeneous-agent models, you can start with Lecture 1 of the NBER workshop, for which I have accompanying lecture recordings.
Econ 411-3: Macroeconomics with Heterogeneity
This is the final part of the Northwestern first-year macro graduate sequence, as taught in Spring 2024. It covers various aspects of macro with heterogeneity, with a focus on household-side heterogeneity and HANK models. A GitHub repository includes all course materials with some additional detail, and one can download all materials as a zip here.
Lecture 1: Course Overview
Lecture 2: The Standard Incomplete Markets (SIM) Model [notebook w/figures]
Lecture 3: Computing the Steady State of the SIM Model (Jupyter notebook) [supplementary notebook on speeding up code]
Lecture 4: General Equilibrium in the SIM Model [notebook w/figures]
Lecture 5: The Pareto Distribution and Fat Tails for Income and Wealth [notebook w/figures]
Lecture 6: Life-Cycle / Overlapping Generations Models [notebook w/figures]
Lecture 7: Dynamics and Sequence-Space Jacobians in the SIM Model (Jupyter notebook) [supplementary notebook on expectation functions] [supplement on fake news algorithm]
Lecture 8: Introduction to HANK and Fiscal Policy [notebook w/figures]
Lecture 9: Introduction to Monetary Policy in HANK [notebook w/figures]
Lecture 10: Departing from Full Information and Rational Expectations (“FIRE”) [notebook w/figures]
Lecture 11: Models of Pricing and Inflation [notebook w/figures]
Lecture 12: Multiple Sectors in an Input-Output Network
Problem Sets: Problem Set 1, Problem Set 2, Problem Set 3