Add literature context to HKMOHousingChannelMP

[jliu226]

Summary

This PR enhances the HKMOHousingChannelMP notebook by adding comprehensive literature context, including prior foundational work and subsequent research that builds on Hedlund, Karahan, Mitman, and Ozkan (2017).

Changes

Notebook Updates (HKMOHousingChannelMP.ipynb)

• Added Prior Literature section: Provides context on the three main strands of prior work that HKM&O builds upon:
  • Housing, wealth, and consumption (micro evidence)
  • Heterogeneity and monetary transmission
  • Housing and mortgages in general equilibrium
• Added Subsequent Literature section: Summarizes key research directions that cite HKM&O, including:
  • Refinancing and cash-flow channel (empirical validation)
  • Micro heterogeneity for macro policy
  • Housing, credit, and macroprudential policy
• Enhanced Overview section: Added explicit contribution statement
• Improved Results section: Clarified language around leverage, MPC, and LTV

New Files

• MP-Housing-Channel.bib: Comprehensive BibTeX bibliography with ~20+ key papers
• prior-literature.md: Detailed analysis of foundational papers and their relationship to HKM&O
• subsequent-literature-analysis.md: Analysis of papers that cite HKM&O and open research questions
• proposed-revisions.md: Documentation of the changes made

Motivation

These additions provide readers with:

1. Better understanding of where HKM&O fits in the broader literature
2. Clear references to foundational and subsequent work
3. Context for the model's contributions and limitations
4. Resources for further reading

All changes maintain consistency with the existing notebook structure and formatting.

[llorracc]

MyST assembly feedback

Your PR adds valuable prior and subsequent literature to HKMOHousingChannelMP, but the MyST Assembly and PR assignment asks for a four-notebook MyST document that builds and renders. Right now the MyST build is not configured.

What you need to add

1. Create the four-notebook structure in models/We-Would-Like-In-Econ-ARK/HKMOHousingChannelMP/:

   • HKMOHousingChannelMP_intro.ipynb — paper metadata (Hedlund, Karahan, Mitman, Ozkan 2017), original ballpark authors, your name as contributor
   • HKMOHousingChannelMP_prior-literature.ipynb — prior literature with MyST citations (you have prior-literature.md; convert to a notebook and add {cite:t} / {cite:p} citations)
   • HKMOHousingChannelMP_summary.ipynb — copy your edited content from HKMOHousingChannelMP.ipynb here; fix heading hierarchy, add MyST citations, add cross-reference links to the other notebooks
   • HKMOHousingChannelMP_subsequent-literature.ipynb — subsequent literature with MyST citations (from your subsequent-literature-analysis.md)

2. Organize bibliography files:

   • self.bib — the HKM&O (2017) paper
   • references.bib — prior literature (you have MP-Housing-Channel.bib; ensure prior refs are here)
   • subsequent-literature.bib — papers that cite HKM&O

3. Create myst.yml in the HKMOHousingChannelMP folder:

version: 1
project:
  title: "Monetary Policy, Heterogeneity, and the Housing Channel — Ballpark Entry"
  bibliography:
    - self.bib
    - references.bib
    - subsequent-literature.bib
  toc:
    - file: HKMOHousingChannelMP_intro.ipynb
    - file: HKMOHousingChannelMP_prior-literature.ipynb
    - file: HKMOHousingChannelMP_summary.ipynb
    - file: HKMOHousingChannelMP_subsequent-literature.ipynb
site:
  title: "Monetary Policy, Heterogeneity, and the Housing Channel — Ballpark Entry"

4. Verify the build from the HKMOHousingChannelMP folder:

myst build

Reference: See PR #40 (OpenHA) or Benhabib_et_al_2019 for working examples.

[llorracc]

Link correction: The MyST Assembly and PR assignment is published at:

https://llorracc.github.io/workspace-course-topics/assignments/myst-assembly-and-pr.html

(Previous link pointed to a path that does not exist in teaching-topics.)