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October 2020 Newsletter

This is a monthly newsletter of PSL model releases, events, and updates.
Subscribe at https://www.pslmodels.org and follow us on Twitter @PSLModels.

User Highlights

Tax-Brain: Release 2.4.0 brought updates on the production of automated reports.

OG-USA: Now models very top earners and heterogenous discount factors.

Cost-of-Capital-Calculator, ParamTools: Documentation makeovers with Jupyter Book.

Citations: Fitzgerald, Hassett, Kallen, and Mulligan (Tax-Calculator); Pomerleau and Seiter (OG-USA and Tax-Calculator); Zhong (PCI-Outbreak)

Cost-of-Capital-Calculator

A model that evaluates the effect of US federal taxes on businesses' investment incentives

General updates

  • The model's documentation gets a makeover using Jupyter Book.

OG-USA

An overlapping-generations model for evaluating fiscal policy in the United States

Releases and new features

  • Added calibrations to model very top earners, including the top 0.01% (#652).
  • Allows users to specify heterogenous discount factors à la Carroll et al. (Quantitative Economics, 2017) (#655).

General updates

  • Used in an American Enterprise Institute study that estimates the revenue, distributional, and macroeconomic effects of Joe Biden’s tax proposal.

ParamTools

A library for parameter processing and validation with a focus on computational modeling projects

General updates

  • The library's documentation gets a makeover using Jupyter Book.
  • Watch out for the library's new API for accessing and querying values in the next release.

PCI-China

A machine learning algorithm that predicts China's policy changes by mining its state-controlled media

General updates

Tax-Brain

An integrator package for multiple open source tax models

Releases and new features

  • Release 2.4.0  —  Automated reports are now produced using just Pandoc (#125, #135). Images used in automated reports are now made with matplotlib (#134). Tax-Brain's Compute Studio app now includes automated reports in the downloadable content (#76). Lastly, Tax-Brain now requires Tax-Calculator 3.0.0 or above and Behavioral-Responses 0.11.0 or above (#128).

Tax-Calculator

A USA federal individual income and payroll tax microsimulation model

General updates

  • Used in an American Enterprise Institute study that estimates the revenue, distributional, and macroeconomic effects of Joe Biden’s tax proposal.
  • Used in an Hoover Institution study that analyzes the economic effects of a broad array of Joe Biden’s proposed fiscal and regulatory policies.

PCI-Crackdown *

A machine learning algorithm that predicts crackdowns on protests by the Chinese military

General updates

PCI-Outbreak *

A machine learning algorithm that estimates the true scale of epidemic outbreaks in China

General updates

PSL Catalog
  • Behavioral-Responses is a partial-equilibrium behavioral module that works with Tax-Calculator.
  • Cost-of-Capital-Calculator evaluates the effect of US federal taxes on businesses' investment incentives.
  • microdf is a package for analyzing economic microdata as pandas DataFrames.
  • OG-USA is an overlapping-generations model for evaluating fiscal policy in the United States.
  • ParamTools is a library for parameter processing and validation with a focus on computational modeling projects.
  • PCI-China is a machine learning algorithm that predicts China's policy changes by mining its state-controlled media.
  • Tax-Brain is an integrator package for multiple open source tax models.
  • Tax-Calculator is a USA federal individual income and payroll tax microsimulation model.
  • Tax-Cruncher calculates federal tax liabilities from individual data under a range of policy scenarios.
The asterisked are incubating projects and are expected to be brought into compliance with PSL Criteria.