diff --git a/HARK/datasets/SCF/WealthIncomeDist/README.md b/HARK/datasets/SCF/WealthIncomeDist/README.md new file mode 100644 index 000000000..9bc2587f9 --- /dev/null +++ b/HARK/datasets/SCF/WealthIncomeDist/README.md @@ -0,0 +1,8 @@ +# Summary statistics of wealth and permanent income in the United States + +# TODO + +The summary statistics in `WealthIncomeStats.csv` are computed using the +Survey of Consumer Finances. The file can be replicated directly from the +unprocessed SCF summary files using the repository [SCF-IncWealthDist](https://github.com/Mv77/SCF-IncWealthDist), +created by [Mateo Velasquez-Giraldo](https://mv77.github.io/). diff --git a/HARK/datasets/SCF/WealthIncomeDist/WealthIncomeStats.csv b/HARK/datasets/SCF/WealthIncomeDist/WealthIncomeStats.csv new file mode 100644 index 000000000..ab18b64f1 --- /dev/null +++ b/HARK/datasets/SCF/WealthIncomeDist/WealthIncomeStats.csv @@ -0,0 +1,680 @@ +Educ,YEAR,Age_grp,w.obs,obs,lnNrmWealth.mean,lnNrmWealth.sd,lnPermIncome.mean,lnPermIncome.sd +NoHS,1995,"(15,20]",1270795.37109375,45,-1.3056220366896143,1.2123861615543283,3.18064217431849,0.917433719188688 +NoHS,1995,"(20,25]",2356193.248046875,79,-1.225227632877147,1.475816503221283,3.1222735692369996,0.7264931120070423 +NoHS,1995,"(25,30]",2835398.79296875,91,-1.0506609464675805,1.231596282597146,3.586365418688135,0.6698676087213977 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get_scf_distr_stats(): + """ + + """ + + filename = os.path.join(scf_sumstats_dir, "WealthIncomeStats.csv") + + # Read csv + table = pd.read_csv(filename, sep=",") + + return table + + +def parse_scf_distr_stats( + age = None, education = None, year = None +): + + # Pre-process year to make it a five-year bracket as in the table + if age is not None: + + u_bound = int(np.ceil(age/5) * 5) + l_bound = u_bound - 5 + age_bracket = '(' + str(l_bound) + ',' + str(u_bound) + ']' + + else: + + # If no year is given, use all years. + age_bracket = 'All' + + # Check whether education is in one of the allowed categories + if education is not None: + + message = ("If an education level is provided, it must be one of " + + "'NoHS', 'HS', or 'College'.") + assert education in ['NoHS','HS','College'], message + + else: + + education = 'All' + + # Parse the year + year_str = 'All' if year is None else str(int(year)) + + # Read table + filename = os.path.join(scf_sumstats_dir, "WealthIncomeStats.csv") + + # Read csv + table = pd.read_csv(filename, sep=",", + index_col = ['Educ','YEAR','Age_grp'], + dtype = {'Educ': str,'YEAR': str,'Age_grp': str}) + + # Try to access the requested combination + try: + + row = table.loc[(education, year_str, age_bracket)] + + except KeyError as e: + + message = ("The summary statistics do not contain the "+ + "Age/Year/Education combination that was requested.") + raise Exception(message).with_traceback(e.__traceback__) + + # Check for NAs + if any(row.isna()): + warn("There were not enough observations in the requested " + + "Age/Year/Education combination to compute all summary" + + "statistics.") + + return row.to_dict() + +def income_wealth_dists_from_scf(age = None, education = None, year = None): + + stats = parse_scf_distr_stats(age, education, year) + + param_dict = { + 'aNrmInitMean' : stats['lnNrmWealth.mean'], # Mean of log initial assets (only matters for simulation) + 'aNrmInitStd' : stats['lnNrmWealth.sd'], # Standard deviation of log initial assets (only for simulation) + 'pLvlInitMean' : stats['lnPermIncome.mean'],# Mean of log initial permanent income (only matters for simulation) + 'pLvlInitStd' : stats['lnPermIncome.sd'], # Standard deviation of log initial permanent income (only matters for simulation) + } + + return param_dict \ No newline at end of file diff --git a/HARK/datasets/SCF/__init__.py b/HARK/datasets/SCF/__init__.py new file mode 100644 index 000000000..e69de29bb diff --git a/examples/Calibration/SCF_distributions.py b/examples/Calibration/SCF_distributions.py new file mode 100644 index 000000000..3b0aa8a29 --- /dev/null +++ b/examples/Calibration/SCF_distributions.py @@ -0,0 +1,39 @@ +# -*- coding: utf-8 -*- +""" +Created on Mon Jan 18 13:57:50 2021 + +@author: Mateo +""" + +from HARK.datasets.SCF.WealthIncomeDist.parser import income_wealth_dists_from_scf +import seaborn as sns +from itertools import product, starmap +import pandas as pd + +# List the education levels and years +educ_lvls = ['NoHS', 'HS', 'College'] +years = list(range(1995,2022,3)) + +age = 25 + +# %% Get the distribution of aNrm and pLvl at each year x education +params = list(product([age],educ_lvls, years)) +age, education, year = list(zip(*params)) + +frame = pd.DataFrame({'age': age, 'education': education, 'year': year}) + +results = list(starmap(income_wealth_dists_from_scf, params)) +frame = pd.concat([frame, pd.DataFrame(results)], axis = 1) + +# %% Plot time trends at different education levels. + +# Formatting +frame = frame.melt(id_vars = ['age', 'education','year']) +aux = frame["variable"].str.split("(Mean|Std)", n = 1, expand = True) +frame["variable"] = aux[0] +frame["stat"] = aux[1] + +# Plot +g = sns.FacetGrid(frame, col="stat", row = "variable", hue="education", sharey = True) +g.map(sns.scatterplot, "year", "value", alpha=.7) +g.add_legend() \ No newline at end of file