This  contains files to replicate results in:

    Sweat Equity in US Private Businesses
    Anmol Bhandari and Ellen McGrattan
    Federal Reserve Bank of Minneapolis, Staff Report 560


The codes to run the Lucas (no sweat) model is organized in the following subdirectories

./python_files
./pbs_files

The folder ./python_files contains the python files that run all the cases that we report in the paper.

A] To find market clearning prices for a particular case the user will need: 

	(1) make a folder called "library" with the following 

		./python_files/library 

	(2) copy the following files:
		./python_files/utility_files/*.py
		./python_files/equilibrium_files/equilibrium_XXXX.py


	(3) copy or udpate a parameter input file for the case using the format
		./python_files/parameter_files/parameter_files/parameters_XXXX.py

	(4) run the command

		python equilibrium_XXXX.py
	The code will create a logXXXX folder that will record the NM steps and the log other details.

B] To calibrate, update the replace step (4) by 
	python calibration.py 

C] To simulate, 
	(1) update the parameters_XXXX.py file with the market clearing prices from the logXXXX folder 
	(2) copy and run simulate.py
		python  ./python_files/simulation_files/simulate_XXXX.py 

The simulations are stored in save_data_XXXX folders


It is highly recommended to run the code using mpi. Example of a PBS files can be obtained from
./pbs_files/job_mktclear_newbench_lsc_XXXX.pbs
./pbs_files/job_calirbate_newbench_lsc_XXXX.pbs
./pbs_files/job_simulate_newbench_lsc_XXXX.pbs



D] To create a output html file use ./python_files/jupyter_notebooks/final_sheet_XXX.ipynb and make sure that the paths are pointing to the right folders. To replicate the tables and figures  ./python_files/jupyter_notebooks/tables_figures.ipynb after making sure that the paths are pointing to right folders. 
Sample ouptput files for the current cases reported in the paper are stored under 
	./output_files/*.html




Anmol Bhandari
Ellen McGrattan 
August 2020