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SSASIM input table TRND_CC

Contains specification of correlation coefficients among long-run trend values. Each row specifies these values for one pair of stochastic variables (identified by their var_index), so many rows are required for each table id value.

Parent table is: ASSUMP

There are no child tables.

Go to SSASIM input parameters overview

SSASIM:   TRND_CC . id
Identifies set of long-run trend correlation coefficient values for all stochastic variables, so value should be unique for each group of rows that has a collection of var1_index and var2_index pairs (see below).

Valid values: 1 to 999999999 (nine digits), Integer

Source code: assump.h and assump.cpp

SSASIM:   TRND_CC . var1_index
Specifies index of first of two stochastic variables whose long-run trend correlation coefficient is specified on this table row.

Valid values: 1 to 15, Integer [var1_index must be greater than var2_index]

1 : total fertility rate (tfr) [log-decimal]

2 : total net immigration (imm) [in millions]

3 : mortality decline rate (mdr) [in percent per year]

4 : female labor force participation rate (fpr) [log-odds]

5 : male labor force participation rate (mpr) [log-odds]

6 : unemployment rate (unr) [log-odds]

7 : inflation rate (inf) [in percent per year]

8 : productivity growth rate (pgr) [in percent per year]

9 : wage share growth rate (wsg) [in percent per year]

10 : hours worked growth rate (hwg) [in percent per year]

11 : nominal interest rate (nir) [log-decimal-rate]

12 : disability incidence factor (dif) [log-decimal]

13 : disability recovery factor (drf) [log-decimal]

14 : equity return (eqr) [log-decimal-gross-nominal-annual-return]

15 : tbill spread (tbs) [difference-in-log-decimal-rate]

[log-decimal] means that variable is expressed as natural logarithm of the decimal (not percentage) value of the variable. This transformation is used to represent variables whose values must always be positive.

[log-odds] means that variable is expressed as natural logarithm of the odds of the value of the variable, where the odds of variable x is equal to x/(1-x). This transformation is used to represent variables whose values must always be between zero and one (like the decimal unemployment rate).

Source code: assump.h and assump.cpp

SSASIM:   TRND_CC . var2_index
Specifies index of second of two stochastic variables whose long-run trend correlation coefficient is specified on this table row.

Valid values: 1 to 15, Integer [var1_index must be greater than var2_index]

1 : total fertility rate (tfr) [log-decimal]

2 : total net immigration (imm) [in millions]

3 : mortality decline rate (mdr) [in percent per year]

4 : female labor force participation rate (fpr) [log-odds]

5 : male labor force participation rate (mpr) [log-odds]

6 : unemployment rate (unr) [log-odds]

7 : inflation rate (inf) [in percent per year]

8 : productivity growth rate (pgr) [in percent per year]

9 : wage share growth rate (wsg) [in percent per year]

10 : hours worked growth rate (hwg) [in percent per year]

11 : nominal interest rate (nir) [log-decimal-rate]

12 : disability incidence factor (dif) [log-decimal]

13 : disability recovery factor (drf) [log-decimal]

14 : equity return (eqr) [log-decimal-gross-nominal-annual-return]

15 : tbill spread (tbs) [difference-in-log-decimal-rate]

[log-decimal] means that variable is expressed as natural logarithm of the decimal (not percentage) value of the variable. This transformation is used to represent variables whose values must always be positive.

[log-odds] means that variable is expressed as natural logarithm of the odds of the value of the variable, where the odds of variable x is equal to x/(1-x). This transformation is used to represent variables whose values must always be between zero and one (like the decimal unemployment rate).

Source code: assump.h and assump.cpp

SSASIM:   TRND_CC . notes
Describes specification of table row in free-form note.

Valid values: any ASCII text (Note: do not copy and paste from a word processor because of the possibility of embedded non-ASCII characters.)

Source code: notes are not read by the model

SSASIM:   TRND_CC . corr_coeff
Specifies value of correlation coefficient among long-run trend values of stochastic variables specified on this table row. Pairs of variables that do not have a specified correlation coefficient are assumed to have uncorrelated long-run trend values. That is, zero correlation coefficients are implied and need not be specified. However, each table id value must have at least one table row.

Valid values: -1.0 to +1.0, Real

Source code: assump.h and assump.cpp