Skip to content

Commit

Permalink
Merge pull request #765 from sbenthall/sb-market
Browse files Browse the repository at this point in the history 
light touch Market class refactoring
  • Loading branch information
@sbenthall
sbenthall authored Aug 13, 2020
2 parents 66a6643 + f812249 commit 1d15c4d
Show file tree
Hide file tree
Showing 2 changed files with 169 additions and 155 deletions.
247 changes: 122 additions & 125 deletions HARK/ConsumptionSaving/ConsAggShockModel.py
View file
Original file line number Diff line number Diff line change
Expand Up @@ -24,7 +24,7 @@

__all__ = ['MargValueFunc2D', 'AggShockConsumerType', 'AggShockMarkovConsumerType',
'CobbDouglasEconomy', 'SmallOpenEconomy', 'CobbDouglasMarkovEconomy',
'SmallOpenMarkovEconomy', 'CobbDouglasAggVars', 'AggregateSavingRule', 'AggShocksDynamicRule','init_agg_shocks','init_agg_mrkv_shocks', 'init_cobb_douglas','init_mrkv_cobb_douglas']
'SmallOpenMarkovEconomy', 'AggregateSavingRule', 'AggShocksDynamicRule','init_agg_shocks','init_agg_mrkv_shocks', 'init_cobb_douglas','init_mrkv_cobb_douglas']

utility = CRRAutility
utilityP = CRRAutilityP
Expand Down Expand Up @@ -616,7 +616,7 @@ def getEconomyData(self, Economy):
'''
self.T_sim = Economy.act_T # Need to be able to track as many periods as economy runs
self.kInit = Economy.KSS # Initialize simulation assets to steady state
self.MrkvInit = Economy.MrkvNow_init # Starting Markov state for the macroeconomy
self.MrkvInit = Economy.sow_init['MrkvNow'] # Starting Markov state for the macroeconomy
self.Mgrid = Economy.MSS*self.MgridBase # Aggregate market resources grid adjusted around SS capital ratio
self.AFunc = Economy.AFunc # Next period's aggregate savings function
self.DeprFac = Economy.DeprFac # Rate of capital depreciation
Expand Down Expand Up @@ -818,7 +818,7 @@ def getShocks(self):
# Get boolean arrays for current employment states
employed = self.EmpNow.copy()
unemployed = np.logical_not(employed)

# Transition some agents between unemployment and employment
emp_permute = self.emp_permute[self.MrkvPrev][self.MrkvNow]
unemp_permute = self.unemp_permute[self.MrkvPrev][self.MrkvNow]
Expand Down Expand Up @@ -1377,11 +1377,12 @@ def __init__(self,
'''
agents = agents if agents is not None else list()
params = init_cobb_douglas.copy()
params['sow_vars'] = ['MaggNow', 'AaggNow', 'RfreeNow',
'wRteNow', 'PermShkAggNow',
'TranShkAggNow', 'KtoLnow']
params.update(kwds)

Market.__init__(self, agents=agents,
sow_vars=['MaggNow', 'AaggNow', 'RfreeNow',
'wRteNow', 'PermShkAggNow', 'TranShkAggNow', 'KtoLnow'],
reap_vars=['aLvlNow', 'pLvlNow'],
track_vars=['MaggNow', 'AaggNow'],
dyn_vars=['AFunc'],
Expand Down Expand Up @@ -1442,13 +1443,14 @@ def update(self):
self.convertKtoY = lambda KtoY: KtoY**(1.0/(1.0 - self.CapShare)) # converts K/Y to K/L
self.Rfunc = lambda k: (1.0 + self.CapShare*k**(self.CapShare-1.0) - self.DeprFac)
self.wFunc = lambda k: ((1.0-self.CapShare)*k**(self.CapShare))
self.KtoLnow_init = self.kSS
self.MaggNow_init = self.kSS
self.AaggNow_init = self.kSS
self.RfreeNow_init = self.Rfunc(self.kSS)
self.wRteNow_init = self.wFunc(self.kSS)
self.PermShkAggNow_init = 1.0
self.TranShkAggNow_init = 1.0

self.sow_init['KtoLnow'] = self.kSS
self.sow_init['MaggNow'] = self.kSS
self.sow_init['AaggNow'] = self.kSS
self.sow_init['RfreeNow'] = self.Rfunc(self.kSS)
self.sow_init['wRteNow'] = self.wFunc(self.kSS)
self.sow_init['PermShkAggNow'] = 1.0
self.sow_init['TranShkAggNow'] = 1.0
self.makeAggShkDstn()
self.AFunc = AggregateSavingRule(self.intercept_prev, self.slope_prev)

Expand Down Expand Up @@ -1545,10 +1547,20 @@ def calcRandW(self, aLvlNow, pLvlNow):
Returns
-------
AggVarsNow : CobbDouglasAggVars
An object containing the aggregate variables for the upcoming period:
capital-to-labor ratio, interest factor, (normalized) wage rate,
aggregate permanent and transitory shocks.
MaggNow : float
Aggregate market resources for this period normalized by mean permanent income
AaggNow : float
Aggregate savings for this period normalized by mean permanent income
RfreeNow : float
Interest factor on assets in the economy this period.
wRteNow : float
Wage rate for labor in the economy this period.
PermShkAggNow : float
Permanent shock to aggregate labor productivity this period.
TranShkAggNow : float
Transitory shock to aggregate labor productivity this period.
KtoLnow : float
Capital-to-labor ratio in the economy this period.
'''
# Calculate aggregate savings
AaggPrev = np.mean(np.array(aLvlNow))/np.mean(pLvlNow) # End-of-period savings from last period
Expand All @@ -1575,9 +1587,8 @@ def calcRandW(self, aLvlNow, pLvlNow):
self.KtoLnow = KtoLnow # Need to store this as it is a sow variable

# Package the results into an object and return it
AggVarsNow = CobbDouglasAggVars(MaggNow, AaggPrev, KtoLnow, RfreeNow, wRteNow, PermShkAggNow, TranShkAggNow)
return AggVarsNow

return MaggNow, AaggPrev, RfreeNow, wRteNow, PermShkAggNow, TranShkAggNow, KtoLnow

def calcAFunc(self, MaggNow, AaggNow):
'''
Calculate a new aggregate savings rule based on the history
Expand Down Expand Up @@ -1662,7 +1673,8 @@ def __init__(self, agents=None, tolerance=0.0001, act_T=1000, **kwds):

def update(self):
'''
Use primitive parameters to set basic objects. This is an extremely stripped-down version
Use primitive parameters to set basic objects.
This is an extremely stripped-down version
of update for CobbDouglasEconomy.
Parameters
Expand All @@ -1675,15 +1687,15 @@ def update(self):
'''
self.kSS = 1.0
self.MSS = 1.0
self.KtoLnow_init = self.kSS
self.sow_init['KtoLnow_init'] = self.kSS
self.Rfunc = ConstantFunction(self.Rfree)
self.wFunc = ConstantFunction(self.wRte)
self.RfreeNow_init = self.Rfunc(self.kSS)
self.wRteNow_init = self.wFunc(self.kSS)
self.MaggNow_init = self.kSS
self.AaggNow_init = self.kSS
self.PermShkAggNow_init = 1.0
self.TranShkAggNow_init = 1.0
self.sow_init['RfreeNow'] = self.Rfunc(self.kSS)
self.sow_init['wRteNow'] = self.wFunc(self.kSS)
self.sow_init['MaggNow'] = self.kSS
self.sow_init['AaggNow'] = self.kSS
self.sow_init['PermShkAggNow'] = 1.0
self.sow_init['TranShkAggNow'] = 1.0
self.makeAggShkDstn()
self.AFunc = ConstantFunction(1.0)

Expand Down Expand Up @@ -1779,8 +1791,21 @@ def getAggShocks(self):
Returns
-------
AggVarsNow : CobbDouglasAggVars
Aggregate state and shock variables for this period.
MaggNow : float
Aggregate market resources for this period normalized by mean permanent income
AaggNow : float
Aggregate savings for this period normalized by mean permanent income
RfreeNow : float
Interest factor on assets in the economy this period.
wRteNow : float
Wage rate for labor in the economy this period.
PermShkAggNow : float
Permanent shock to aggregate labor productivity this period.
TranShkAggNow : float
Transitory shock to aggregate labor productivity this period.
KtoLnow : float
Capital-to-labor ratio in the economy this period.
'''
# Get this period's aggregate shocks
PermShkAggNow = self.PermShkAggHist[self.Shk_idx]
Expand All @@ -1796,9 +1821,7 @@ def getAggShocks(self):
MaggNow = 1.0
KtoLnow = 1.0/PermShkAggNow

# Package the results into an object and return it
AggVarsNow = CobbDouglasAggVars(MaggNow, AaggNow, KtoLnow, RfreeNow, wRteNow, PermShkAggNow, TranShkAggNow)
return AggVarsNow
return MaggNow, AaggNow, RfreeNow, wRteNow, PermShkAggNow, TranShkAggNow, KtoLnow

# Make a dictionary to specify a Markov Cobb-Douglas economy
init_mrkv_cobb_douglas = init_cobb_douglas.copy()
Expand All @@ -1825,6 +1848,15 @@ def __init__(self,
agents=None,
tolerance=0.0001,
act_T=1200,
sow_vars=['MaggNow',
'AaggNow',
'RfreeNow',
'wRteNow',
'PermShkAggNow',
'TranShkAggNow',
'KtoLnow',
'MrkvNow' # This one is new
],
**kwds):
'''
Make a new instance of CobbDouglasMarkovEconomy by filling in attributes
Expand All @@ -1849,8 +1881,14 @@ def __init__(self,
params = init_mrkv_cobb_douglas.copy()
params.update(kwds)

CobbDouglasEconomy.__init__(self, agents=agents, tolerance=tolerance, act_T=act_T, **params)
self.sow_vars.append('MrkvNow')
CobbDouglasEconomy.__init__(self,
agents=agents,
tolerance=tolerance,
act_T=act_T,
sow_vars = sow_vars,
**params)

self.sow_init['MrkvNow'] = params['MrkvNow_init']

def update(self):
'''
Expand Down Expand Up @@ -2011,7 +2049,7 @@ def makeMrkvHist(self):
cutoffs = np.cumsum(self.MrkvArray, axis=1)
loops = 0
go = True
MrkvNow = self.MrkvNow_init
MrkvNow = self.sow_init['MrkvNow']
t = 0
StateCount = self.MrkvArray.shape[0]

Expand Down Expand Up @@ -2068,11 +2106,26 @@ def millRule(self, aLvlNow, pLvlNow):
and adds the Markov state index.
See documentation for calcRandW for more information.
Returns
-------
Mnow : float
Aggregate market resources for this period.
Aprev : float
Aggregate savings for the prior period.
KtoLnow : float
Capital-to-labor ratio in the economy this period.
Rnow : float
Interest factor on assets in the economy this period.
Wnow : float
Wage rate for labor in the economy this period.
MrkvNow : int
Binary indicator for bad (0) or good (1) macroeconomic state.
'''
MrkvNow = self.MrkvNow_hist[self.Shk_idx]
temp = self.calcRandW(aLvlNow, pLvlNow)
temp(MrkvNow=MrkvNow)
return temp

return temp + (MrkvNow,)

def calcAFunc(self, MaggNow, AaggNow):
'''
Expand Down Expand Up @@ -2247,14 +2300,14 @@ def update(self):
self.convertKtoY = lambda KtoY: KtoY**(1.0/(1.0 - self.CapShare)) # converts K/Y to K/L
self.rFunc = lambda k: self.CapShare*k**(self.CapShare-1.0)
self.Wfunc = lambda k: ((1.0-self.CapShare)*k**(self.CapShare))
self.KtoLnow_init = self.KtoLSS
self.Mnow_init = self.MSS
self.Aprev_init = self.KSS
self.Rnow_init = self.RSS
self.Wnow_init = self.WSS
self.sow_init['KtoLnow'] = self.KtoLSS
self.sow_init['Mnow'] = self.MSS
self.sow_init['Aprev'] = self.KSS
self.sow_init['Rnow'] = self.RSS
self.sow_init['Wnow'] = self.WSS
self.PermShkAggNow_init = 1.0
self.TranShkAggNow_init = 1.0
self.Mrkv_init = 0
self.sow_init['MrkvNow'] = 0
self.makeMrkvArray()

def reset(self):
Expand Down Expand Up @@ -2339,7 +2392,21 @@ def millRule(self, aNow, EmpNow):
wage rate based on each agent's current state. Just calls calcRandW().
See documentation for calcRandW for more information.
Returns
-------
Mnow : float
Aggregate market resources for this period.
Aprev : float
Aggregate savings for the prior period.
MrkvNow : int
Binary indicator for bad (0) or good (1) macroeconomic state.
Rnow : float
Interest factor on assets in the economy this period.
Wnow : float
Wage rate for labor in the economy this period.
'''

return self.calcRandW(aNow, EmpNow)

def calcDynamics(self, Mnow, Aprev):
Expand All @@ -2366,10 +2433,16 @@ def calcRandW(self, aNow, EmpNow):
Returns
-------
AggVarsNow : CobbDouglasAggVars
An object containing the aggregate variables for the upcoming period:
capital-to-labor ratio, interest factor, (normalized) wage rate,
aggregate permanent and transitory shocks.
Mnow : float
Aggregate market resources for this period.
Aprev : float
Aggregate savings for the prior period.
MrkvNow : int
Binary indicator for bad (0) or good (1) macroeconomic state.
Rnow : float
Interest factor on assets in the economy this period.
Wnow : float
Wage rate for labor in the economy this period.
'''
# Calculate aggregate savings
Aprev = np.mean(np.array(aNow)) # End-of-period savings from last period
Expand Down Expand Up @@ -2397,9 +2470,8 @@ def calcRandW(self, aNow, EmpNow):
Mnow = Rnow*AggK + Wnow*AggL
self.KtoLnow = KtoLnow # Need to store this as it is a sow variable

# Package the results into an object and return it
AggVarsNow = KrusellSmithAggVars(Mnow, Aprev, KtoLnow, Rnow, Wnow, MrkvNow)
return AggVarsNow
# Returns a tuple of these values
return Mnow, Aprev, MrkvNow, Rnow, Wnow

def calcAFunc(self, Mnow, Aprev):
'''
Expand Down Expand Up @@ -2455,81 +2527,6 @@ def calcAFunc(self, Mnow, Aprev):
return AggShocksDynamicRule(AFunc_list)


class CobbDouglasAggVars(HARKobject):
'''
A simple class for holding the relevant aggregate variables that should be
passed from the market to each type. Includes the capital-to-labor ratio,
the interest factor, the wage rate, and the aggregate permanent and tran-
sitory shocks.
'''
def __init__(self, MaggNow, AaggNow, KtoLnow, RfreeNow, wRteNow, PermShkAggNow, TranShkAggNow):
'''
Make a new instance of CobbDouglasAggVars.
Parameters
----------
MaggNow : float
Aggregate market resources for this period normalized by mean permanent income
AaggNow : float
Aggregate savings for this period normalized by mean permanent income
KtoLnow : float
Capital-to-labor ratio in the economy this period.
RfreeNow : float
Interest factor on assets in the economy this period.
wRteNow : float
Wage rate for labor in the economy this period.
PermShkAggNow : float
Permanent shock to aggregate labor productivity this period.
TranShkAggNow : float
Transitory shock to aggregate labor productivity this period.
Returns
-------
None
'''
self.MaggNow = MaggNow
self.AaggNow = AaggNow
self.KtoLnow = KtoLnow
self.RfreeNow = RfreeNow
self.wRteNow = wRteNow
self.PermShkAggNow = PermShkAggNow
self.TranShkAggNow = TranShkAggNow


class KrusellSmithAggVars():
'''
Just a container class for aggregate data in the Krusell-Smith model.
'''
def __init__(self, Mnow, Aprev, KtoLnow, Rnow, Wnow, MrkvNow):
'''
Make a new instance of KrusellSmithAggVars.
Parameters
----------
Mnow : float
Aggregate market resources for this period.
Aprev : float
Aggregate savings for the prior period.
KtoLnow : float
Capital-to-labor ratio in the economy this period.
Rnow : float
Interest factor on assets in the economy this period.
Wnow : float
Wage rate for labor in the economy this period.
MrkvNow : int
Binary indicator for bad (0) or good (1) macroeconomic state.
Returns
-------
None
'''
self.Mnow = Mnow
self.Aprev = Aprev
self.KtoLnow = KtoLnow
self.Rnow = Rnow
self.Wnow = Wnow
self.MrkvNow = MrkvNow


class AggregateSavingRule(HARKobject):
'''
Expand Down
Loading

0 comments on commit 1d15c4d

Please sign in to comment.