Multiple Agent Models¶

These lectures look at important economic models that also illustrate common equilibrium concepts.

Lectures¶

• Schelling’s Segregation Model
  • Outline
  • The Model
  • Results
  • Exercises
  • Solutions
• A Lake Model of Employment and Unemployment
  • Overview
  • The Model
  • Implementation
  • Dynamics of an Individual Worker
  • Endogenous Job Finding Rate
  • Exercises
  • Solutions
• Rational Expectations Equilibrium
  • Overview
  • Defining Rational Expectations Equilibrium
  • Computation of an Equilibrium
  • Exercises
  • Solutions
• Stability in Linear Rational Expectations Models
  • Overview
  • Linear difference equations
  • Illustration: Cagan’s Model
  • Some Python code
  • Alternative code
  • Another perspective
  • Log money supply feeds back on log price level
  • Big $ P $, little $ p $ interpretation
  • Fun with SymPy code
• Markov Perfect Equilibrium
  • Overview
  • Background
  • Linear Markov Perfect Equilibria
  • Application
  • Exercises
  • Solutions
• Uncertainty Traps
  • Overview
  • The Model
  • Implementation
  • Results
  • Exercises
  • Solutions
• The Aiyagari Model
  • Overview
  • The Economy
  • Firms
  • Code