Optimal Consumption-Portfolio Rules with Informational and Trading Frictions
Description
This dataset provides the replication package for the paper “Optimal Consumption-Portfolio Rules with Informational and Trading Frictions” by Chi Chung Siu, Guiyuan Ma, and Yawen Zheng. The package contains six commented MATLAB programs used to generate all numerical figures reported in the paper. The programs implement the closed-form analytical solutions for optimal portfolio choice, expected consumption, conditional variance, welfare, and precautionary saving under trading frictions, exogenous information-processing constraints, and endogenous information-acquisition costs. Each program automatically generates and exports the corresponding figure in EPS format. This theoretical study does not use external raw or analysis data. All numerical results are generated deterministically from the analytical expressions developed in the paper and from parameter values defined directly in the MATLAB programs. No confidential, proprietary, licensed, or otherwise restricted data are used. The accompanying README file provides information on data availability, parameter sources, software requirements, step-by-step replication instructions, and a complete correspondence between the figures, MATLAB programs, and output files. MATLAB R2019b or later is recommended. No third-party MATLAB packages or external datasets are required.
Files
Steps to reproduce
1. Download and extract the replication package while preserving the folder structure 2. Start MATLAB R2019b or a later release. 3. Run the following scripts individually from the MATLAB Command Window or Editor: ``` Figure1 Figure2 Figure3 Figure4 Figure5 Figure6 ``` 5. Each script clears the active workspace, generates one figure window, and automatically exports a publication-quality vector EPS file with the matching name (`Figure1.eps` through `Figure6.eps`). MATLAB saves the EPS file in the current working directory. 6. The scripts are self-contained and may be run in any order. No input prompts, input files, or random seeds are required. For more details, the reader can read the "README.md" file.