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173 | 173 | "Using this notation, we construct all the necessary inputs to the regressors. The main input is the expected income growth of every agent at every time period, which is given by\n", |
174 | 174 | "\\begin{equation}\n", |
175 | 175 | "\\begin{split}\n", |
176 | | - "\\Ex_t[\\yLvl_{t+1}/\\yLvl_{t}] &= \\mathbb{E}_t[\\left(\\frac{\\theta_{t+1}\\pLvl_{t} \\PermGroFac_{t+1} \\PermShk_{t+1}}{\\theta_{t}P_{t}}\\right)]\\\\\n", |
| 176 | + "\\Ex_t[\\yLvl_{t+1}/\\yLvl_{t}] &= \\mathbb{E}_t \\left[ \\left(\\frac{\\theta_{t+1}\\pLvl_{t} \\PermGroFac_{t+1} \\PermShk_{t+1}}{\\theta_{t}P_{t}}\\right) \\right]\\\\\n", |
177 | 177 | " &= \\left(\\frac{\\PermGroFac_{t+1}}{\\theta_{t}}\\right)\\\\\n", |
178 | 178 | "\\Ex_t[\\yLog_{t+1} - \\yLog_{t}] & = \\log \\Gamma_{t+1}-\\log \\theta_t\n", |
179 | 179 | "\\end{split}\n", |
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188 | 188 | "outputs": [], |
189 | 189 | "source": [ |
190 | 190 | "exp = [\n", |
191 | | - " calc_expectation(Agent.IncShkDstn[i], func=lambda x: x[0] * x[1])\n", |
| 191 | + " calc_expectation(Agent.IncShkDstn[i], func=lambda x: x[\"PermShk\"] * x[\"TranShk\"])\n", |
192 | 192 | " for i in range(Agent.T_cycle)\n", |
193 | 193 | "]\n", |
194 | 194 | "exp_df = pd.DataFrame(\n", |
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249 | 249 | "Dep. Variable: ExpBin R-squared: 0.1958\n", |
250 | 250 | "Estimator: PanelOLS R-squared (Between): -0.0938\n", |
251 | 251 | "No. Observations: 100000 R-squared (Within): 0.1958\n", |
252 | | - "Date: Tue, Dec 02 2025 R-squared (Overall): 0.1888\n", |
253 | | - "Time: 10:21:36 Log-likelihood -1.288e+05\n", |
| 252 | + "Date: Mon, Feb 02 2026 R-squared (Overall): 0.1888\n", |
| 253 | + "Time: 21:29:53 Log-likelihood -1.288e+05\n", |
254 | 254 | "Cov. Estimator: Unadjusted \n", |
255 | 255 | " F-statistic: 2.376e+04\n", |
256 | 256 | "Entities: 2435 P-value 0.0000\n", |
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332 | 332 | "outputs": [], |
333 | 333 | "source": [ |
334 | 334 | "exp = [\n", |
335 | | - " calc_expectation(Agent_nt.IncShkDstn[i], func=lambda x: x[0] * x[1])\n", |
| 335 | + " calc_expectation(Agent_nt.IncShkDstn[i], func=lambda x: x[\"PermShk\"] * x[\"TranShk\"])\n", |
336 | 336 | " for i in range(Agent_nt.T_cycle)\n", |
337 | 337 | "]\n", |
338 | 338 | "exp_df = pd.DataFrame(\n", |
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381 | 381 | "Dep. Variable: ExpBin R-squared: 0.0084\n", |
382 | 382 | "Estimator: PanelOLS R-squared (Between): -0.0257\n", |
383 | 383 | "No. Observations: 100000 R-squared (Within): 0.0084\n", |
384 | | - "Date: Tue, Dec 02 2025 R-squared (Overall): 0.0088\n", |
385 | | - "Time: 10:22:07 Log-likelihood -1.393e+05\n", |
| 384 | + "Date: Mon, Feb 02 2026 R-squared (Overall): 0.0088\n", |
| 385 | + "Time: 21:29:58 Log-likelihood -1.393e+05\n", |
386 | 386 | "Cov. Estimator: Unadjusted \n", |
387 | 387 | " F-statistic: 826.23\n", |
388 | 388 | "Entities: 2435 P-value 0.0000\n", |
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