Improve presentation in income example file
@@ -15,9 +15,11 @@ from HARK.Calibration.Calibration import (
import numpy as np
import matplotlib.pyplot as plt
-# %% CGM calibration
+# What year to use as the base monetary year?
+# (pick 1992 as it is used by both of the papers we are comparing)
adjust_infl_to = 1992
+# %% Cocco, Gomes, Maenhout (2005) calibration
age_min = 21
age_max = 100
@@ -35,11 +37,18 @@ for spec in CGM_income.items():
plt.plot(ages, MeanY, label=label)
-plt.title("CGM")
+plt.title(
+ "Mean paths of permanent income calibrations in\n"
+ + "Cocco, Gomes & Maenhout (2005)"
+)
+plt.xlabel("Age")
+plt.ylabel(
+ "Mean Permanent Income,\n" + "Thousands of {} U.S. dollars".format(adjust_infl_to)
+)
plt.legend()
plt.show()
-# %% Cagetti calibration
+# %% Cagetti (2003) calibration
age_min = 25
age_max = 91
@@ -65,6 +74,10 @@ for spec in Cagetti_income.items():
plt.plot(ages, MeanY, label=label)
-plt.title("Cagetti")
+plt.title("Mean paths of permanent income calibrations in\n" + "Cagetti (2003)")
+plt.xlabel("Age")
+plt.ylabel(
+ "Mean Permanent Income,\n" + "Thousands of {} U.S. dollars".format(adjust_infl_to)
+)
plt.legend()
plt.show()
