Merge pull request #32 from ARFajardo/updateGI

Merging
EAPD-DRB · Oct 24, 2024 · 624a46c · 624a46c
2 parents 80b10db + 3baa1f4
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diff --git a/CHANGELOG.md b/CHANGELOG.md
@@ -5,6 +5,11 @@ All notable changes to this project will be documented in this file.
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
+## [0.0.6] - 2024-10-24 11:00:00
+
+### Added
+
+- Updated `alpha_G` and `alpha_I`
 
 ## [0.0.5] - 2024-10-20 22:00:00
 
@@ -34,7 +39,7 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 - This version is a pre-release alpha. The example run script OG-PHL/examples/run_og_phl.py runs, but the model is not currently calibrated to represent the Philippines economy and population.
 
 
-
+[0.0.6]: https://github.com/EAPD-DRB/OG-PHL/compare/v0.0.4...v0.0.6
 [0.0.5]: https://github.com/EAPD-DRB/OG-PHL/compare/v0.0.4...v0.0.5
 [0.0.4]: https://github.com/EAPD-DRB/OG-PHL/compare/v0.0.3...v0.0.4
 [0.0.3]: https://github.com/EAPD-DRB/OG-PHL/compare/v0.0.0...v0.0.3
diff --git a/docs/book/_toc.yml b/docs/book/_toc.yml
@@ -14,6 +14,7 @@ parts:
   - file: content/calibration/macro
   - file: content/calibration/demographics
   - file: content/calibration/earnings
+  - file: content/calibration/government
   - file: content/calibration/taxes
   - file: content/calibration/UBI
   - file: content/calibration/matching_lwi

diff --git a/docs/book/content/calibration/exogenous_parameters.md b/docs/book/content/calibration/exogenous_parameters.md
@@ -78,7 +78,8 @@ kernelspec:
 | $\texttt{baseline_spending}$    | Whether level of spending constant between the baseline and reform runs | 0.00E+00                                              |
 | $\alpha^{T}_{t}$                 | Transfers as a share of GDP                                             | [0.097...0.097]                                       |
 | $\eta_{j,s,t}$                   | Distribution of transfers                                               | Too large to report here, see default parameters JSON |
-| $\alpha^{G}_{t}$                 | Government spending as a share of GDP                                   | [0.142...0.142]                                       |
+| $\alpha^{G}_{t}$                 | Government spending as a share of GDP                                   | [0.215, 0.209, 0.207]                                  |
+| $\alpha^{I}_{t}$                 | Government infrastructure spending as a share of GDP                    | [0.054, 0.054, 0.056]                                 |
 | $t_{G1}$                         | Model period in which budget closure rule starts                        | 20                                                    |
 | $t_{G2}$                         | Model period in which budget closure rule ends                          | 256                                                   |
 | $\rho_{G}$                       | Budget closure rule smoothing parameter                                 | 0.100                                                 |

diff --git a/docs/book/content/calibration/government.md b/docs/book/content/calibration/government.md
@@ -0,0 +1,13 @@
+(Chap_GovCalib)=
+# Calibration of Government Parameters
+
+## Government Spending as a Share of GDP
+
+We've calibrated the vector $\alpha_G=[0.215, 0.209, 0.207]$. These values are forecasts for 2025, 2026 and 2027. This came from the 2025 Budget of Expenditures and Sources of Financing Table A2 https://www.dbm.gov.ph/index.php/2025/budget-of-expenditures-and-sources-of-financing-fy-2025 .
+
+
+### Government spending on infrastructure as a share of GDP
+
+We've calibrated the vector $\alpha_I=[0.054, 0.054, 0.056]$. These values are forecasts for 2025, 2026 and 2027. This came from the 2025 Budget of Expenditures and Sources of Financing Table A2 https://www.dbm.gov.ph/index.php/2025/budget-of-expenditures-and-sources-of-financing-fy-2025 
+
+
diff --git a/ogphl/__init__.py b/ogphl/__init__.py
@@ -8,4 +8,4 @@
 from ogphl.macro_params import *
 from ogphl.utils import *
 
-__version__ = "0.0.5"
+__version__ = "0.0.6"
diff --git a/ogphl/ogphl_default_parameters.json b/ogphl/ogphl_default_parameters.json
@@ -791,10 +791,14 @@
         0.09710000000000002
     ],
     "alpha_G": [
-        0.142491781304102
+        0.215,
+        0.209,
+        0.207
     ],
     "alpha_I": [
-        0.0003
+        0.054,
+        0.054,
+        0.056
     ],
     "rho_G": 0.1,
     "debt_ratio_ss": 1.0,

diff --git a/setup.py b/setup.py
@@ -5,7 +5,7 @@
 
 setuptools.setup(
     name="ogphl",
-    version="0.0.5",
+    version="0.0.6",
     author="Marcelo LaFleur, Richard W. Evans, and Jason DeBacker",
     license="CC0 1.0 Universal (CC0 1.0) Public Domain Dedication",
     description="Philippines Calibration for OG-Core",