I import an Excel table that contains wealth and income values and CRRA coefficients in the rows. I would like to know
how much people should save (given their CRRA coeffiecient). I know that I need vpasolve to find the roots of the first-order
condition. s2 is the variable that I am interested in.
T = readtable('Savings.xls.xlsx');
syms s2
T.behavioralsavings2 = vpasolve( (70+s2)*(log(70+s2))^(T.crracoef)-(70+T.wealth2)*(log(70+T.wealth2))^(T.crracoef), s2)
I get the following error messages:
Error using ^ (line 344)
Matrix must be square.
Error in Untitled (line 3)
T.behavioralsavings2 = vpasolve( (70+s2)*(log(70+s2))^(T.crracoef)-(70+T.wealth2)*(log(70+T.wealth2))^(T.crracoef), s2)
I do not have the slightest idea what to do. Am I on the right path applying vpasolve on a table? Thanks!
