{"version":96,"illustrative":true,"calibrated":false,"causal_approved":false,"factors":{"productivity_gain":[0.25,0.5,1.0],"pass_through":[0.0,0.5,1.0],"profit_tax_rate":[0.25,0.35],"capture_share":[0.5,1.0],"ownership":["concentrated","broad"],"tenure":["renter","owner_free","mortgage_fixed","mortgage_reset"],"stress":["stable","rate_shock"]},"fixed":{"capital_output_elasticity":0.3,"capital_labor_elasticity":0.0,"saving":"income_share","equity_quote":"constant_real","terminal_unemployment":0.2,"horizon_years":20,"resolution":true,"recourse":0.0},"control_definition":"Zero displacement and zero productivity gain; same tax/capture schedules and housing stress. Not a no-policy-change control.","threshold_definition":"Consumption index at least 90 of each own initial nonhousing-consumption level in all 21 annual observations, conditional on completion.","source_sha256":{"macro_sensitivity_v96.py":"39d2fec415cbcd8ac10bae5285c3fbe693aaec15f4423e0bc05b1f98d1cabe9a","credit_resolution_v77.py":"06ae0b004ff907da797c86f5103405ade666117e392b073be996804a138aab61","credit_ledger_v77.py":"70a77262cffa33a3f7d972e208b503f141881559a48cb8d4f6308232d0df31c8","capital_feedback_v74.py":"13e3846f47b6b44610e805fffd3787c315f591e5e2d0233c0d376c0effd4e294","coupled_thesis_v71.py":"84a86ee1cbc69d4388033321f4b7553aa9c079ea1c193ac106cdabc027caa724","household_distribution_v72.py":"b7b9cf8bd0d5936f4583c873a4a13e2ee4dcdd515f0727abbfb870ea682ed192","housing_stress_v75.py":"7065fa2ee7e32e916720a2ef341a3344fd77b7b7fc5abf0dd20460f0240231b4","saving_asset_sensitivity_v73.py":"2b93da2794a6e73987f86cbd350e8ec4eb0d9e63a6e4117d7749eabebfd7e211","integrated_housing_v76.py":"5fdbe90c5dc2a59a3d0f3cd602e277cfa62b4075a3e6f8d3e3a00bf67b417887"},"summary":{"n":576,"actual_complete":202,"control_complete":72,"paired_complete":42,"actual_failure_reasons":{"Existing government commitments lack cash financing":144,"Corporate liquidity, real capital or equity-redemption capacity exhausted":230},"groups":{"workers":{"preserves_90_all_years_n":202,"worse_than_control_n":0},"displaced_free":{"preserves_90_all_years_n":83,"worse_than_control_n":42},"displaced_debt":{"preserves_90_all_years_n":75,"worse_than_control_n":42},"owners":{"preserves_90_all_years_n":202,"worse_than_control_n":12}}},"conditional":{"productivity_gain":{"0.25":{"n":192,"actual_complete":96,"control_complete":24,"paired_complete":24,"actual_failure_reasons":{"Existing government commitments lack cash financing":96},"groups":{"workers":{"preserves_90_all_years_n":96,"worse_than_control_n":0},"displaced_free":{"preserves_90_all_years_n":40,"worse_than_control_n":24},"displaced_debt":{"preserves_90_all_years_n":40,"worse_than_control_n":24},"owners":{"preserves_90_all_years_n":96,"worse_than_control_n":12}}},"0.5":{"n":192,"actual_complete":82,"control_complete":24,"paired_complete":18,"actual_failure_reasons":{"Existing government commitments lack cash financing":48,"Corporate liquidity, real capital or equity-redemption capacity exhausted":62},"groups":{"workers":{"preserves_90_all_years_n":82,"worse_than_control_n":0},"displaced_free":{"preserves_90_all_years_n":43,"worse_than_control_n":18},"displaced_debt":{"preserves_90_all_years_n":35,"worse_than_control_n":18},"owners":{"preserves_90_all_years_n":82,"worse_than_control_n":0}}},"1.0":{"n":192,"actual_complete":24,"control_complete":24,"paired_complete":0,"actual_failure_reasons":{"Corporate liquidity, real capital or equity-redemption capacity exhausted":168},"groups":{"workers":{"preserves_90_all_years_n":24,"worse_than_control_n":0},"displaced_free":{"preserves_90_all_years_n":0,"worse_than_control_n":0},"displaced_debt":{"preserves_90_all_years_n":0,"worse_than_control_n":0},"owners":{"preserves_90_all_years_n":24,"worse_than_control_n":0}}}},"pass_through":{"0.0":{"n":192,"actual_complete":64,"control_complete":24,"paired_complete":12,"actual_failure_reasons":{"Existing government commitments lack cash financing":48,"Corporate liquidity, real capital or equity-redemption capacity exhausted":80},"groups":{"workers":{"preserves_90_all_years_n":64,"worse_than_control_n":0},"displaced_free":{"preserves_90_all_years_n":30,"worse_than_control_n":12},"displaced_debt":{"preserves_90_all_years_n":30,"worse_than_control_n":12},"owners":{"preserves_90_all_years_n":64,"worse_than_control_n":4}}},"0.5":{"n":192,"actual_complete":66,"control_complete":24,"paired_complete":14,"actual_failure_reasons":{"Existing government commitments lack cash financing":48,"Corporate liquidity, real capital or equity-redemption capacity exhausted":78},"groups":{"workers":{"preserves_90_all_years_n":66,"worse_than_control_n":0},"displaced_free":{"preserves_90_all_years_n":31,"worse_than_control_n":14},"displaced_debt":{"preserves_90_all_years_n":26,"worse_than_control_n":14},"owners":{"preserves_90_all_years_n":66,"worse_than_control_n":4}}},"1.0":{"n":192,"actual_complete":72,"control_complete":24,"paired_complete":16,"actual_failure_reasons":{"Existing government commitments lack cash financing":48,"Corporate liquidity, real capital or equity-redemption capacity exhausted":72},"groups":{"workers":{"preserves_90_all_years_n":72,"worse_than_control_n":0},"displaced_free":{"preserves_90_all_years_n":22,"worse_than_control_n":16},"displaced_debt":{"preserves_90_all_years_n":19,"worse_than_control_n":16},"owners":{"preserves_90_all_years_n":72,"worse_than_control_n":4}}}},"profit_tax_rate":{"0.25":{"n":288,"actual_complete":106,"control_complete":72,"paired_complete":42,"actual_failure_reasons":{"Existing government commitments lack cash financing":96,"Corporate liquidity, real capital or equity-redemption capacity exhausted":86},"groups":{"workers":{"preserves_90_all_years_n":106,"worse_than_control_n":0},"displaced_free":{"preserves_90_all_years_n":28,"worse_than_control_n":42},"displaced_debt":{"preserves_90_all_years_n":25,"worse_than_control_n":42},"owners":{"preserves_90_all_years_n":106,"worse_than_control_n":12}}},"0.35":{"n":288,"actual_complete":96,"control_complete":0,"paired_complete":0,"actual_failure_reasons":{"Existing government commitments lack cash financing":48,"Corporate liquidity, real capital or equity-redemption capacity exhausted":144},"groups":{"workers":{"preserves_90_all_years_n":96,"worse_than_control_n":0},"displaced_free":{"preserves_90_all_years_n":55,"worse_than_control_n":0},"displaced_debt":{"preserves_90_all_years_n":50,"worse_than_control_n":0},"owners":{"preserves_90_all_years_n":96,"worse_than_control_n":0}}}},"capture_share":{"0.5":{"n":288,"actual_complete":72,"control_complete":0,"paired_complete":0,"actual_failure_reasons":{"Existing government commitments lack cash financing":144,"Corporate liquidity, real capital or equity-redemption capacity exhausted":72},"groups":{"workers":{"preserves_90_all_years_n":72,"worse_than_control_n":0},"displaced_free":{"preserves_90_all_years_n":15,"worse_than_control_n":0},"displaced_debt":{"preserves_90_all_years_n":10,"worse_than_control_n":0},"owners":{"preserves_90_all_years_n":72,"worse_than_control_n":0}}},"1.0":{"n":288,"actual_complete":130,"control_complete":72,"paired_complete":42,"actual_failure_reasons":{"Corporate liquidity, real capital or equity-redemption capacity exhausted":158},"groups":{"workers":{"preserves_90_all_years_n":130,"worse_than_control_n":0},"displaced_free":{"preserves_90_all_years_n":68,"worse_than_control_n":42},"displaced_debt":{"preserves_90_all_years_n":65,"worse_than_control_n":42},"owners":{"preserves_90_all_years_n":130,"worse_than_control_n":12}}}},"ownership":{"concentrated":{"n":288,"actual_complete":120,"control_complete":36,"paired_complete":24,"actual_failure_reasons":{"Existing government commitments lack cash financing":72,"Corporate liquidity, real capital or equity-redemption capacity exhausted":96},"groups":{"workers":{"preserves_90_all_years_n":120,"worse_than_control_n":0},"displaced_free":{"preserves_90_all_years_n":38,"worse_than_control_n":24},"displaced_debt":{"preserves_90_all_years_n":35,"worse_than_control_n":24},"owners":{"preserves_90_all_years_n":120,"worse_than_control_n":0}}},"broad":{"n":288,"actual_complete":82,"control_complete":36,"paired_complete":18,"actual_failure_reasons":{"Existing government commitments lack cash financing":72,"Corporate liquidity, real capital or equity-redemption capacity exhausted":134},"groups":{"workers":{"preserves_90_all_years_n":82,"worse_than_control_n":0},"displaced_free":{"preserves_90_all_years_n":45,"worse_than_control_n":18},"displaced_debt":{"preserves_90_all_years_n":40,"worse_than_control_n":18},"owners":{"preserves_90_all_years_n":82,"worse_than_control_n":12}}}},"tenure":{"renter":{"n":144,"actual_complete":52,"control_complete":36,"paired_complete":22,"actual_failure_reasons":{"Existing government commitments lack cash financing":36,"Corporate liquidity, real capital or equity-redemption capacity exhausted":56},"groups":{"workers":{"preserves_90_all_years_n":52,"worse_than_control_n":0},"displaced_free":{"preserves_90_all_years_n":20,"worse_than_control_n":22},"displaced_debt":{"preserves_90_all_years_n":18,"worse_than_control_n":22},"owners":{"preserves_90_all_years_n":52,"worse_than_control_n":6}}},"owner_free":{"n":144,"actual_complete":50,"control_complete":36,"paired_complete":20,"actual_failure_reasons":{"Existing government commitments lack cash financing":36,"Corporate liquidity, real capital or equity-redemption capacity exhausted":58},"groups":{"workers":{"preserves_90_all_years_n":50,"worse_than_control_n":0},"displaced_free":{"preserves_90_all_years_n":24,"worse_than_control_n":20},"displaced_debt":{"preserves_90_all_years_n":24,"worse_than_control_n":20},"owners":{"preserves_90_all_years_n":50,"worse_than_control_n":6}}},"mortgage_fixed":{"n":144,"actual_complete":50,"control_complete":0,"paired_complete":0,"actual_failure_reasons":{"Existing government commitments lack cash financing":36,"Corporate liquidity, real capital or equity-redemption capacity exhausted":58},"groups":{"workers":{"preserves_90_all_years_n":50,"worse_than_control_n":0},"displaced_free":{"preserves_90_all_years_n":24,"worse_than_control_n":0},"displaced_debt":{"preserves_90_all_years_n":20,"worse_than_control_n":0},"owners":{"preserves_90_all_years_n":50,"worse_than_control_n":0}}},"mortgage_reset":{"n":144,"actual_complete":50,"control_complete":0,"paired_complete":0,"actual_failure_reasons":{"Existing government commitments lack cash financing":36,"Corporate liquidity, real capital or equity-redemption capacity exhausted":58},"groups":{"workers":{"preserves_90_all_years_n":50,"worse_than_control_n":0},"displaced_free":{"preserves_90_all_years_n":15,"worse_than_control_n":0},"displaced_debt":{"preserves_90_all_years_n":13,"worse_than_control_n":0},"owners":{"preserves_90_all_years_n":50,"worse_than_control_n":0}}}},"stress":{"stable":{"n":288,"actual_complete":101,"control_complete":36,"paired_complete":21,"actual_failure_reasons":{"Existing government commitments lack cash financing":72,"Corporate liquidity, real capital or equity-redemption capacity exhausted":115},"groups":{"workers":{"preserves_90_all_years_n":101,"worse_than_control_n":0},"displaced_free":{"preserves_90_all_years_n":46,"worse_than_control_n":21},"displaced_debt":{"preserves_90_all_years_n":41,"worse_than_control_n":21},"owners":{"preserves_90_all_years_n":101,"worse_than_control_n":6}}},"rate_shock":{"n":288,"actual_complete":101,"control_complete":36,"paired_complete":21,"actual_failure_reasons":{"Existing government commitments lack cash financing":72,"Corporate liquidity, real capital or equity-redemption capacity exhausted":115},"groups":{"workers":{"preserves_90_all_years_n":101,"worse_than_control_n":0},"displaced_free":{"preserves_90_all_years_n":37,"worse_than_control_n":21},"displaced_debt":{"preserves_90_all_years_n":34,"worse_than_control_n":21},"owners":{"preserves_90_all_years_n":101,"worse_than_control_n":6}}}}}}