``Individual Versus Aggregate Collateral Constraints and the Overborrowing Syndrome,'' NBER working paper No. 12260, May 2006.
``On Overborrowing,'' American Economic Review Papers and Proceedings 96, May 2006, pp. 417-421.
Matlab Code
Note: The auxiliary programs posted at the bottom of this page are required.
An Economy with an Aggregate Credit Ceiling and Resource Costs (CCRC)
ccrc.m (run this program to compute the competitive equilibrium)
ccrc_variables.m
ccrc_ss.m (Deep structural parameters)
ccrc_simu.m (model simulation)
ccrc_dm_test.m (denHaan-Marcet, RES 1994, accuracy test)
An Economy with an Aggregate Credit Ceiling and No Resource Costs (CC)
cc.m (run this program to compute the competitive equilibrium)
cc_variables.m
cc_ss.m (Deep structural parameters)
cc_simu.m (model simulation)
cc_dm_test.m (denHaan-Marcet, RES 1994, accuracy test)
An Economy Without a Credit Ceiling (NCC)
ncc.m (run this program to compute the competitive equilibrium)
ncc_variables.m
ncc_ss.m (Deep structural parameters)
ncc_simu.m (model simulation)
ncc_dm_test.m (denHaan-Marcet, RES 1994, accuracy test)
An Economy with an Aggregate Time-Varying Collateral Constraint (TVCC)
tvcc.m (run this program to compute the competitive equilibrium)
tvcc_variables.m
tvcc_ss.m (Deep structural parameters)
tvcc_simu.m (model simulation)
tvcc_dm_test.m (denHaan-Marcet, RES 1994, accuracy test)
An Economy with an Individual Time-Varying Collateral Constraint (TVCCI)
tvcci.m (run this program to compute the competitive equilibrium)
tvcci_variables.m
tvcci_ss.m (Deep structural parameters)
tvcci_simu.m (model simulation)
tvcci_dm_test.m (denHaan-Marcet, RES 1994, accuracy test)
A Two-Period Economy With Heterogeneous Agents
heterogeneous.m
Auxiliary Programs
chebygrid.m
chebyzeros.m
chebyreg.m
chebyreg2.m