Dear Dr. Pleifer,
I need to replicate the TANK model of Galí et al. (2007) for the case where the proportion of rule-of-thumb consumers is zero (lambda = 0). While doing, I find some problems with indeterminacy when calculating steady state values.
Do you have a code that replicates this case? If so, I would appreciate it if you could share with me? Thank you very much
No, I don’t have code for that case. Shutting off one agent is not easily nested as some variables will drop out.
I understand. Thank you anyway
Dear Professor @jpfeifer ,
I realize this post is from some time ago, but I am also interested in Gali et al. (2007) and its findings. If possible, could you kindly provide the replication files?
Thank you so much in advanced.