
\begin{center}\label{table:calibration2}
\begin{tabular}{cd{5}l}
\\ \toprule
\multicolumn{3}{c}{ \textbf{Preference Parameters} }
\\ $\rho$ & 2. & Coefficient of Relative Risk Aversion
\\ $\beta_{SOE}$ & 0.969 & SOE Discount Factor ($=0.99 \cdot \PLives \breve{\mathcal{R}} / \Ex [\pmb{\psi}]^{-\CRRA}$)
\\ $\beta_{DSGE}$ &\approx 0.986 & HA-DSGE Discount Factor ($=\breve{\mathcal{R}}^{-1}$)
\\ $\Pi$                    & 0.25  & Probability of Updating Expectations (if Sticky)
\\ \midrule
\multicolumn{3}{c}{ \textbf{Idiosyncratic Shock Parameters} }
\\ $\sigma_{\psi}^{2}$      &0.004      & Variance Idiosyncratic Perm Shocks (=$\frac{4}{11} \times$ Annual)
\\ $\sigma_{\theta}^{2}$    & 0.12     & Variance Idiosyncratic Tran Shocks (=$4 \times$ Annual)
\\ $\wp$                    & 0.05  & Probability of Unemployment Spell
\\ $\PDies$             & 0.005  & Probability of Mortality
\\ \bottomrule
\end{tabular}
\end{center}
