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\begin{table}
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\caption{Microeconomic Model Calibration}\label{table:Calibration}
\begin{tabular}{|c|ccl|c|}
\hline
\multicolumn{5}{|l|}{Calibrated Parameters}  \\ \hline
Description                     & \multicolumn{1}{c}{Parameter} & Value & \multicolumn{2}{c|}{Source}\\ \hline
Permanent Income Growth Factor  & \multicolumn{1}{c}{$\PGro$} & 1.03 & \multicolumn{2}{c|}{PSID: Carroll (1992)} \\
Interest Factor                 & \multicolumn{1}{c}{$\Rfree$} & 1.04 & \multicolumn{2}{c|}{Conventional} \\
Time Preference Factor          & \multicolumn{1}{c}{$\beta$} & 0.96 & \multicolumn{2}{c|}{Conventional} \\
Coefficient of Relative Risk Aversion & \multicolumn{1}{c}{$\CRRA$} & 2 & \multicolumn{2}{c|}{Conventional} \\
Probability of Zero Income      & \multicolumn{1}{c}{$\pZero$} & 0.005 & \multicolumn{2}{c|}{PSID: Carroll (1992)} \\
Std Dev of Log Permanent Shock  & \multicolumn{1}{c}{$\sigma_{\pshk}$} & 0.1 & \multicolumn{2}{c|}{PSID: Carroll (1992)} \\
Std Dev of Log Transitory Shock & \multicolumn{1}{c}{$\sigma_{\theta}$} & 0.1 & \multicolumn{2}{c|}{PSID: Carroll (1992)} \\ \hline
\multicolumn{5}{l}{}  \\ \hline
\multicolumn{5}{|l|}{Model Characteristics Calculated From Parameters}  \\ \hline
                                            & \multicolumn{3}{c|}{}                                      & Approximate \\
                                            & \multicolumn{3}{c|}{}                                       & Calculated \\
Description                                 & \multicolumn{3}{c|}{Symbol and Formula}                       & Value \\ \hline
Finite Human Wealth Measure                 & $\Rnorm^{-1}$ & $\equiv$ & $\PGro/\Rfree$                    & 0.990 \\
PF Finite Value of Autarky Measure& $\beth$ & $\equiv$ & $\beta \PGro^{1-\CRRA}$                    & 0.932 \\
Growth Compensated Permanent Shock            & $\InvEpShkInv $ & $\equiv$ & $ (\EpShkInv)^{-1}$               & 0.990 \\
Uncertainty-Adjusted Growth                 & $\PGroAdj $ & $\equiv$ & $ \PGro \InvEpShkInv$        & 1.020 \\
Utility Compensated Permanent Shock                & $\uInvEpShkuInv $ & $\equiv$ & $ (\Ex_{t}[\pShk^{1-\CRRA}])^{1/(1-\CRRA)}$ & 0.990 \\
Utility Compensated Growth                     & $\PGrouAdj $ & $\equiv$ & $ \PGro \uInvEpShkuInv$        & 1.020 \\
Absolute Patience Factor                    & $\Pat_{\phantom{\Rfree}} $ & $\equiv$ & $ (\Rfree \beta)^{1/\CRRA}$                & 0.999 \\
Return Patience Factor                      & $\PatR$ & $\equiv$ & $\Rfree^{-1}(\Rfree \beta)^{1/\CRRA} $     & 0.961 \\
PF Growth Patience Factor    & $\PatPGro$ & $\equiv$ & $\PGro^{-1}(\Rfree \beta)^{1/\CRRA} $      & 0.970 \\
Growth Patience Factor                      & $\PatPGroAdj$ & $\equiv$ & $ \PGroAdj^{-1}(\Rfree \beta)^{1/\CRRA}$& 0.980 \\
Finite Value of Autarky Measure         & $\DiscAltuAdj $ & $\equiv$ & $ \beta \PGro^{1-\CRRA}\uInvEpShkuInv^{1-\CRRA}$       & 0.941 \\ \hline
\end{tabular}
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\end{table}
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