Calibrations

Available Bundles

Name	\(\phi_c\)	Description
`adams_baseline`	10	Baseline with high friction (paper-preferred)
`adams_frictionless`	0	No consumption adjustment costs
`adams_moderate_friction`	5	Moderate friction
`adams_high_friction`	10	High friction (same as baseline)
`toy_demo_small_grid`	5	Short lifecycle (25-40-50) for fast testing

Parameter	Value	Description
\(\gamma\)	5	Relative risk aversion
\(\psi\)	0.5	Elasticity of intertemporal substitution
\(\beta\)	0.85	Time discount factor
\(r_f\)	0.02	Risk-free rate
\(\bar{x}\)	0.05	Mean equity premium
\(\phi_x\)	0.85	Equity premium persistence
\(\rho_{cs}\)	0.96	Premium innovation to discount-rate news
\(s\)	0.15	Illiquid savings share (working life)
\(\tau\)	0.35	Tax/contribution rate
\(S\)	0.60	Retirement income replacement rate
\(\sigma_\varepsilon\)	0.20	Transitory income shock std dev
\(\sigma_\eta\)	0.25	Persistent income shock std dev

from liquiditylife.calibrations import load_calibration

# Override specific parameters
cal = load_calibration("adams_baseline", phi_c=7.5)