\begin{center}\label{table:calibration2}  
\begin{tabular}{cd{5}l}  
\\ \toprule  
\multicolumn{3}{c}{ \textbf{Preference Parameters} }  
\\ $\rho$ & 2. & Coefficient of Relative Risk Aversion 
\\ $\beta_{SOE}$ &  0.970 & SOE Discount Factor 
\\ $\beta_{DSGE}$ &  0.986 & HA-DSGE Discount Factor ($=\breve{\Rprod}^{-1}$) 
\\ $\Pi$                    & 0.25  & Probability of Updating Expectations (if Sticky) 
\\ \midrule  
\multicolumn{3}{c}{ \textbf{Idiosyncratic Shock Parameters} }  
\\ $\sigma_{\theta}^{2}$    & 0.120     & Variance Idiosyncratic Tran Shocks (=$4 \times$ Annual) 
\\ $\sigma_{\psi}^{2}$      &0.003      & Variance Idiosyncratic Perm Shocks (=$\frac{1}{4} \times$ Annual) 
\\ $\wp$                    & 0.050  & Probability of Unemployment Spell 
\\ $\PDies$             & 0.005  & Probability of Mortality 
\\ \bottomrule  
\end{tabular}  
\end{center}  
