Relax assumption about capital good production

Abierto
  • ¿Algo no está bien?
#975 1 comentario 0 reacciones 0 asignados Ver en GitHub

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Evaluación

Dificultad
5/5
Tiempo estimado
Más de una semana
Aptitud para principiantes
12/100
Tipo de issue
Nueva funcionalidad
Claridad
Bastante claro
Estado de actividad
Tranquilo
Stack tecnológico
python
Área
backend

Línea de trabajo

This is a modeling design question, not a code change, and the payload names no files or tests. Start by reading the Ballard et al. (1985) Chapter 4 approach the issue cites, then the current capital-good production assumption in the firm problem. Done means maintainers agree on a formulation that ties aggregate household savings to industry-level investment goods via an input/output mapping.

Escrito por el modelo de indexación a partir del texto del issue.

Descripción

enhancement

We currently assume that capital goods are produced from just one industry (namely, industry $M$). This helps greatly with the solution to the firms' problem because consumption demands from the $M-1$ industries pins down their scale (i.e., $Y_m=C_m$), and together with $r$ and $w$ yield quantities of the factors input demands.

Demand for investment is a function of the scale of firms, since it'd determined by demand for capital, $K_m$. This makes it hard to solve for the demand for investment from each industry without first knowing each industry's scale.

But Ballard et al. (1985) Chapter 4 provide an alternative approach that could work for OG-Core.

This approach involves determining investment demand from aggregate household savings (less gov't debt). The assumption is that this demand for investment is met by the supply of investment goods from firms (analogous to how we use the goods market clearing to say $Y_m=C_m$, we can now say $Y_m=C_m + I_m$). Aggregate household savings only gives us total investment. To get investment goods produced by industry $m$, we would use an input/output matrix as we do for mapping production goods to consumption goods, but in this case mapping production goods to capital goods.

Lenguaje dominante
Python
Estrellas
85
Forks
153
Merge medio
1 d 19 h
PR fusionados (30 d)
19

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Primeros pasos

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  4. Abre un pull request que haga referencia al número del issue.

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