A three-regime consumption-savings model with stochastic mortality: working life, retirement, and death. The agent chooses labor supply and consumption. Log utility with work disutility and a borrowing constraint. Mortality is age-dependent: a vector of per-period survival probabilities (last entry = 0.0 for certain death) governs the transition to the dead regime.
Usage¶
import jax.numpy as jnp
from lcm_examples.mortality import get_model, get_params
model = get_model(n_periods=5)
params = get_params(n_periods=5)
result = model.solve_and_simulate(
params=params,
initial_conditions={
"age": jnp.full(100, model.ages.values[0]),
"wealth": jnp.linspace(1, 100, 100),
"regime_id": jnp.full(100, model.regime_names_to_ids["working_life"]),
},
seed=1234,
)
df = result.to_dataframe(additional_targets="all")