|
55 | 55 | }, |
56 | 56 | } |
57 | 57 |
|
58 | | - |
59 | | -PARAM_LABELS = { |
60 | | - "start_year": ["Initial year", r"$\texttt{start_year}$"], |
61 | | - # 'Gamma': ['Initial distribution of savings', r'\hat{\Gamma}_{0}'], |
62 | | - # 'N': ['Initial population', 'N_{0}'], |
63 | | - "omega": ["Population by age over time", r"$\omega_{s,t}$"], |
64 | | - # 'fert_rates': ['Fertility rates by age', |
65 | | - # r'$f_{s,t}$'], |
66 | | - "imm_rates": ["Immigration rates by age", r"$i_{s,t}$"], |
67 | | - "rho": ["Mortality rates by age", r"$\rho_{s,t}$"], |
68 | | - "e": ["Deterministic ability process", r"$e_{j,s,t}$"], |
69 | | - "lambdas": [ |
70 | | - "Lifetime income group percentages", |
71 | | - r"$\lambda_{j}$", |
72 | | - ], |
73 | | - "J": ["Number of lifetime income groups", "$J$"], |
74 | | - "S": ["Maximum periods in economically active individual life", "$S$"], |
75 | | - "E": ["Number of periods of youth economically outside the model", "$E$"], |
76 | | - "T": ["Number of periods to steady-state", "$T$"], |
77 | | - "retirement_age": ["Retirement age", "$R$"], |
78 | | - "ltilde": ["Maximum hours of labor supply", r"$\tilde{l}$"], |
79 | | - "beta": ["Discount factor", r"$\beta$"], |
80 | | - "sigma": ["Coefficient of constant relative risk aversion", r"$\sigma$"], |
81 | | - "frisch": ["Frisch elasticity of labor supply", r"$\nu$"], |
82 | | - "b_ellipse": ["Scale parameter in utility of leisure", "$b$"], |
83 | | - "upsilon": ["Shape parameter in utility of leisure", r"$\upsilon$"], |
84 | | - # 'k': ['Constant parameter in utility of leisure', 'k'], |
85 | | - "chi_n": [ |
86 | | - "Disutility of labor level parameters", |
87 | | - r"$\chi^{n}_{s}$", |
88 | | - ], |
89 | | - "chi_b": [ |
90 | | - "Utility of bequests level parameters", |
91 | | - r"$\chi^{b}_{j}$", |
92 | | - ], |
93 | | - "use_zeta": [ |
94 | | - "Whether to distribute bequests between lifetime income groups", |
95 | | - r"$\texttt{use_zeta}$", |
96 | | - ], |
97 | | - "zeta": ["Distribution of bequests", r"$\zeta$"], |
98 | | - "Z": ["Total factor productivity", "$Z_{t}$"], |
99 | | - "gamma": ["Capital share of income", r"$\gamma$"], |
100 | | - "epsilon": [ |
101 | | - "Elasticity of substitution between capital and labor", |
102 | | - r"$\varepsilon$", |
103 | | - ], |
104 | | - "delta": ["Capital depreciation rate", r"$\delta$"], |
105 | | - "g_y": [ |
106 | | - "Growth rate of labor augmenting technological progress", |
107 | | - r"$g_{y}$", |
108 | | - ], |
109 | | - "tax_func_type": [ |
110 | | - "Functional form used for income tax functions", |
111 | | - r"$\texttt{tax_func_type}$", |
112 | | - ], |
113 | | - "analytical_mtrs": [ |
114 | | - "Whether use analytical MTRs or estimate MTRs", |
115 | | - r"$\texttt{analytical_mtrs}$", |
116 | | - ], |
117 | | - "age_specific": [ |
118 | | - "Whether use age-specific tax functions", |
119 | | - r"$\texttt{age_specific}$", |
120 | | - ], |
121 | | - "tau_payroll": ["Payroll tax rate", r"$\tau^{p}_{t}$"], |
122 | | - # 'theta': ['Replacement rate by average income', |
123 | | - # r'\left{\theta_{j}\right}_{j=1}^{J}'], |
124 | | - "tau_bq": ["Bequest (estate) tax rate", r"$\tau^{BQ}_{t}$"], |
125 | | - "tau_b": ["Entity-level business income tax rate", r"$\tau^{b}_{t}$"], |
126 | | - "delta_tau": [ |
127 | | - "Rate of depreciation for tax purposes", |
128 | | - r"$\delta^{\tau}_{t}$", |
129 | | - ], |
130 | | - "tau_c": ["Consumption tax rates", r"$\tau^{c}_{t,s,j}$"], |
131 | | - "h_wealth": ["Coefficient on linear term in wealth tax function", "$H$"], |
132 | | - "m_wealth": ["Constant in wealth tax function", "$M$"], |
133 | | - "p_wealth": ["Coefficient on level term in wealth tax function", "$P$"], |
134 | | - "budget_balance": [ |
135 | | - "Whether have a balanced budget in each period", |
136 | | - r"$\texttt{budget_balance}$", |
137 | | - ], |
138 | | - "baseline_spending": [ |
139 | | - "Whether level of spending constant between " |
140 | | - + "the baseline and reform runs", |
141 | | - r"$\texttt{baseline_spending}$", |
142 | | - ], |
143 | | - "alpha_T": ["Transfers as a share of GDP", r"$\alpha^{T}_{t}$"], |
144 | | - "eta": ["Distribution of transfers", r"$\eta_{j,s,t}$"], |
145 | | - "eta_RM": ["Distribution of remittances", r"$\eta_{RM,j,s,t}$"], |
146 | | - "alpha_G": ["Government spending as a share of GDP", r"$\alpha^{G}_{t}$"], |
147 | | - "alpha_RM_1": [ |
148 | | - "Remittances as a share of GDP in initial period", |
149 | | - r"$\alpha_{RM,1}$", |
150 | | - ], |
151 | | - "alpha_RM_T": [ |
152 | | - "Remittances as a share of GDP in long run", |
153 | | - r"$\alpha_{RM,T}$", |
154 | | - ], |
155 | | - "g_RM": ["Growth rate of remittances in initial periods", r"$g_{RM,t}$"], |
156 | | - "tG1": ["Model period in which budget closure rule starts", r"$t_{G1}$"], |
157 | | - "tG2": ["Model period in which budget closure rule ends", r"$t_{G2}$"], |
158 | | - "rho_G": ["Budget closure rule smoothing parameter", r"$\rho_{G}$"], |
159 | | - "debt_ratio_ss": ["Steady-state Debt-to-GDP ratio", r"$\bar{\alpha}_{D}$"], |
160 | | - "initial_debt_ratio": [ |
161 | | - "Initial period Debt-to-GDP ratio", |
162 | | - r"$\alpha_{D,0}$", |
163 | | - ], |
164 | | - "r_gov_scale": [ |
165 | | - "Scale parameter in government interest rate wedge", |
166 | | - r"$\tau_{d,t}$", |
167 | | - ], |
168 | | - "r_gov_shift": [ |
169 | | - "Shift parameter in government interest rate wedge", |
170 | | - r"$\mu_{d,t}$", |
171 | | - ], |
172 | | - "avg_earn_num_years": [ |
173 | | - "Number of years over which compute average earnings for pension benefit", |
174 | | - r"$\texttt{avg_earn_num_years}$", |
175 | | - ], |
176 | | - "AIME_bkt_1": ["First AIME bracket threshold", r"$\texttt{AIME_bkt_1}$"], |
177 | | - "AIME_bkt_2": [ |
178 | | - "Second AIME bracket threshold", |
179 | | - r"$\texttt{AIME_bkt_2}$", |
180 | | - ], |
181 | | - "PIA_rate_bkt_1": [ |
182 | | - "First AIME bracket PIA rate", |
183 | | - r"$\texttt{PIA_rate_bkt_1}$", |
184 | | - ], |
185 | | - "PIA_rate_bkt_2": [ |
186 | | - "Second AIME bracket PIA rate", |
187 | | - r"$\texttt{PIA_rate_bkt_2}$", |
188 | | - ], |
189 | | - "PIA_rate_bkt_3": [ |
190 | | - "Third AIME bracket PIA rate", |
191 | | - r"$\texttt{PIA_rate_bkt_3}$", |
192 | | - ], |
193 | | - "PIA_maxpayment": ["Maximum PIA payment", r"$\texttt{PIA_maxpayment}$"], |
194 | | - "PIA_minpayment": ["Minimum PIA payment", r"$\texttt{PIA_minpayment}$"], |
195 | | - "replacement_rate_adjust": [ |
196 | | - "Adjustment to replacement rate", |
197 | | - r"$\theta_{adj,t}$", |
198 | | - ], |
199 | | - "world_int_rate": ["World interest rate", r"$r^{*}_{t}$"], |
200 | | - "initial_foreign_debt_ratio": [ |
201 | | - "Share of government debt held by foreigners in initial period", |
202 | | - r"$D_{f,0}$", |
203 | | - ], |
204 | | - "zeta_D": [ |
205 | | - "Share of new debt issues purchased by foreigners", |
206 | | - r"$\zeta_{D, t}$", |
207 | | - ], |
208 | | - "zeta_K": [ |
209 | | - "Share of excess capital demand satisfied by foreigners", |
210 | | - r"$\zeta_{K, t}$", |
211 | | - ], |
212 | | - "nu": ["Dampening parameter for TPI", r"$\xi$"], |
213 | | - "maxiter": ["Maximum number of iterations for TPI", r"$\texttt{maxiter}$"], |
214 | | - "mindist_SS": ["SS solution tolerance", r"$\texttt{mindist_SS}$"], |
215 | | - "mindist_TPI": ["TPI solution tolerance", r"$\texttt{mindist_TPI}$"], |
216 | | -} |
217 | | - |
218 | | -# Ignoring the following: |
219 | | -# 'starting_age', 'ending_age', 'constant_demographics', |
220 | | -# 'constant_rates', 'zero_taxes' |
221 | | - |
222 | 58 | # List of deviation factors for initial guesses of r and TR used in |
223 | 59 | # SS.run_SS for a more robust SS solution |
224 | 60 | DEV_FACTOR_LIST = [ |
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