Add initial base parameters for TractableConsumerType
@@ -317,8 +317,10 @@ class TractableConsumerType(AgentType):
-----------
New instance of TractableConsumerType.
"""
+ params = init_tractable.copy()
+ params.update(kwds)
# Initialize a basic AgentType
- AgentType.__init__(self, cycles=cycles, pseudo_terminal=True, **kwds)
+ AgentType.__init__(self, cycles=cycles, pseudo_terminal=True, **params)
# Add consumer-type specific objects, copying to create independent versions
self.time_vary = []
@@ -689,3 +691,12 @@ class TractableConsumerType(AgentType):
"""
self.aLvlNow = self.mLvlNow - self.cLvlNow
return None
+
+
+init_tractable = {
+ "UnempPrb": 0.00625, # Probability of becoming unemployed
+ "DiscFac": 0.975, # Intertemporal discount factor
+ "Rfree": 1.01, # Risk-free interest factor on assets
+ "PermGroFac": 1.0025, # Permanent income growth factor (uncompensated)
+ "CRRA": 1.0, # Coefficient of relative risk aversion
+}
