We develop a dynamic model of a small open economy that trades commodities whose world prices are subject to realistic random fluctuations, and study the implications of monetary policy alternatives.
Replication files for the REStat paper: "Existence and uniqueness of solutions to dynamic models with occasionally binding constraints" Contains code to replicate the figures and numerical results i
We study optimal labor and savings distortions in a lifecycle model with idiosyncratic shocks. We show a tight connection between its recursive formulation and a static Mirrlees model with two goods,
We study models of credit with limited commitment, which implies endogenous borrowing constraints. We show that there are multiple stationary equilibria, as well as nonstationary equilibria, including
In this data article, we provide computational codes to solve for optimal Ramsey taxation with conventional and endogenous risk aversion formulations under neoclassical growth model environments, as p
