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GSoC 2022 Project Ideas
The Econ-ARK project provides open-source tools for researchers trying to understand how economic and social outcomes result from the actions of heterogeneous individuals.
The primary goals of the project are to make entry into the world of such modeling easy; to accelerate the development of this kind of modeling for policymaking and academic research; and to increase the openness, replicability, and interoperability of modeling tools.
Examples of how to use the toolkit specifically tailored to new users are integrated into the documentation and available either as downloadable or as directly executable Jupyter Notebooks.
Many more demonstrations of the use of the toolkit to solve economic problems are available in the DemARK repository.
New contributors should read the contributing guide, familiarize themselves with the available HARK documentation, and know the basics of git and github.
Implementation of Auclert, Ronglie, and Straub's method of solving heterogeneous agent macroeconomic models
The toolkit has an experimental implementation of a specific example of Auclert, Ronglie, and Straub's method of solving heterogeneous agent macroeconomic models. The project would be to integrate that experimental method fully into the toolkit.
This would involve several steps:
- Standardizing and improving the tools for generating approximating Markov transition matrices to represent the dynamic evolution of populations of agents
- Creating a tool that would take a high-level description of the linearization of the model in response to an MIT shock.
- Inputs would include:
- The model type being linearized (e.g.,
ConsIndShockType) - The duration of the transition back to steady state (e.g., 160 quarters)
- The necessary information for describing the approximating transitiion matrices
- Whatever else a user might want to specify about the problem
- The model type being linearized (e.g.,
- Outputs would include:
- The appropriately constructed agent type
- A set of tools to conduct simulations of the model
- Inputs would include:
Expected size: 350h
Difficulty rating: hard
Potential Mentors:
-
Christopher Carroll
- Professor of economics at Johns Hopkins University
- Google Scholar
Students can who work on Econ-ARK can expect to their skillset to grow in (depending on the project)
- Economic Agent Modelling
- Scientific Software Engineering
- Dynamic Stochastic Optimization Mathematics