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*    Inequality, Disaster Risk, and the Great Recession
*    Written by Heejeong Kim 
*    Email: heejeong.kim@concordia.ca
*    Last updated June 18 2021
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1. Empirical Analysis
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calculate the observed joint distribution of income, consumption, and wealth 
in Tables 11-13 in section 6.3
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Step 1. 	Run "SampleSelection.do" in STATA 
	This uses the 1968-2011 PSID data. 
	For years of interest 2005-2011, I include federal and state taxes calculated 
	using NBER Taxsim calculator.
	This will generate two psid0507.csv,  psid0711.csv  files 
	that will be used in Matlab to calculate the empirical moments.
		
Step 2.  Run "PSID_EmpricialMoments_main.m" in MATLAB.
              This requires two csv files created in Step 1.

The total excution time is less than 1 minute.

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2. Quantitative Analysis - sections 6.1 and 6.2
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Quantitative models are solved using Fortran90, compiled in Microsoft Visual Studio.
It iis solved on a PC with two Intel Xeon CPU E5-2640 2.40GHz processors (40 logical cores)
and 64GB RAM. The excution time is when the program is parallelized using Open MP.  

Theare arw two projects - one for steady state and the other for the stochastic equilibrium
1. Steay-state 
	steadystate_main.f90 : main file for the program
	steadystate_module.f90 :  subroutines 
	kindset.f90:  specify the data type
	skwme0704disc1533.txt: Earnings shock process

	It will generate result file "ss_solutionp.txt" which will be read in the stochastic equilbrium solution.
            
	Excution time: 10 minutes

2. Stochastic Equilibrium
	stochastic_main.f90 : main file for the program
	steadystate_module.f90 :  subroutines 
	stochastic_mod: addtional subroutines for the stochastic equilibrium solution
	kindset.f90:  specify the data type	
	ss_solutionp.txt: steady-state solution (generated when solving a steady-state)
	
  	Excution time:  39 hours 36 minutes