0.13.1

This release:

• Adds three new parameters to adjust government spending amounts in the case of baseline_spending=True:
  • alpha_bs_G: the proportional adjustment to the level of baseline spending on government consumption (time varying, default value is 1.0 for each model period)
  • alpha_bs_T: the proportional adjustment to the level of baseline spending on non-pension transfers (time varying, default value is 1.0 for each model period)
  • alpha_bs_I: the proportional adjustment to the level of baseline spending on infrastructure investment (time varying, default value is 1.0 for each model period)

0.13.0

This release:

• Updates all of the documentation.
  • Adds remittances to all instances of the household budget constraint
  • Rewrites bequests and transfers components of household budget constraint in terms of individual variables in all instances
  • Adds a household transfers section to households.md with subsections on bequests, remittances, government transfers, and universal basic income
  • Changes all instances of $p_t Y_t$ to $Y_t
  • Updates the steady-state equilibrium algorithm description in equilibrium.md
  • Added updates to the government pensions descriptions in government.md and added pensions to all instances of the household budget constraint.
  • Updates the docstrings in tax.py for the wealth tax ETR and MTR functions. The code is right. I just thought there was a clearer specification of the equations in LaTeX.
• Adds remittances to the OG-Core code
  • Adds aggregate remittances function get_RM() to aggregates.py
  • Adds household remittances function get_rm() to household.py
  • Adds four new remittance parameters: alpha_RM_1, g_RM, alpha_RM_T, eta_RM
  • We model aggregate remittances as a percent of GDP in the first period, then growing at a specified rate that can deviate from the country growth rate until the cutoff rule period, after which the remittance growth rate trends back to the long-run model growth rate (growth rate in population and productivity). We also model remittances in reforms as being a percentage of baseline GDP. In this way, if remittance parameters are not changed in the reform, remittances remain at their baseline levels. The only way they change is if their parameter values are changed.
  • Adds 3 tests using the test_get_RM() function in test_aggregates.py
  • Adds 4 tests using the test_get_rm() function in test_household.py
  • Changes the initial_guess_r_SS in two tests in test_SS.py because they were not solving with their current values
• Increases RC_SS steady-state resource constraint tolerance from 1e-9 to 1e-8 because two test_run_SS() tests were failing in test_SS.py with resource constraints errors just bigger than 1e-9 (-2.29575914e-09 for [Baseline, small open] and -2.29575914e-09 for [Reform, small open]).
• Increases RC_TPI transition path resource constraint tolerance from 1e-5 to 1e-4 in because one test_run_TPI_full_run() test was failing in test_TPI.py with a resource constraint error just bigger than 1e-5 (1.4459913381864586e-05 for [Baseline, M=3 non-zero Kg]).
• Updated two directory path references that were out of date in test_run_example.py.
• Updated expected value tuples and dictionaries in test_txfunc.py.

0.12.0

This release:

• Updates OG-Core to run with and be tested on Python 3.12.

0.11.17

This release:

• Adds
  • Description of alpha_I in docs
  • Updates valid range of the nominal UBI parameters
• Bug Fixes
  • Extrapolate alpha_I in parameters.py
  • Ensure alpha_I shape conforms in TPI.py
  • Fix formatting of labels in constants.py

0.11.16

This release:

• Adds parameter script make_params.py that generates a markdown file for the documentation parameters.md. Updates Makefile, and GitHub Actions (PR #963)
• Updats debt-to-GDP plot labels (PR #962)

0.11.15

This release:

• Make OGcorePlots.mplstyle importable from the package by adding it to setup.py.

0.11.14

This release:

• Adds aesthetic updates to plotting functions in parameter_plots.py and demographics.py

0.11.13

This release:

• Adds three new pension types to the model: (i) defined benefits system, (ii) notional defined contribution system, and (iii) points system.

0.11.11

This release:

• Adds new parameters for resource constraint tolerances for steady state and time path solution.

0.11.10

This release:

• Adds HSV to list of valid tax functions in default_parameters.json.
• Fixes documentation issues and warnings.