\begin{table}[htbp]
\centering
\footnotesize
\begin{threeparttable}
\caption{Parameters of the baseline (period = 5 years)}
\label{tab:parameters}
\begin{tabular}{lp{2.2cm}p{2.3cm}p{6cm}}
\toprule
Parameter & Value & Unit & Source / status \\
\midrule
J & 12 & periods & spec B.1 \\
j\_retire & 9 & age index & spec B.1 \\
j\_gift = j\_estate & 7 & age index & spec B.1 \\
beta (period) & 0.8154 & - & 0.96 annual, illustrative \\
gamma & 2 & - & illustrative \\
alpha & 0.2 & - & illustrative \\
chi & 0 & - & spec B.2 baseline 0 \\
nu & 2 & - & illustrative \\
x\_shift & 1 & income units & illustrative \\
rho\_z (period) & 0.7738 & - & 0.95\textasciicircum{}5, illustrative \\
sigma\_z (period) & 0.3043 & - & same unconditional variance as annual, illustrative \\
n\_z & 5 & - & Rouwenhorst \\
replacement rate & 0.5 & - & illustrative \\
sigma\_transitory (period, log) & 0.03 & - & illustrative; unanticipated, breaks cash atoms \\
h sizes & [1.0, 1.5, 2.25, 3.4] & housing units & spec B.12 \\
s\_min & 0.3 & housing units & illustrative \\
m (period) & 0.05 & share of value & 0.01 annual, illustrative \\
kappa\_b & 0.025 & share of price & illustrative \\
kappa\_s & 0.05 & share of price & illustrative \\
kappa\_f & 0.01 & share of value & illustrative \\
delta\_H (period) & 0.04901 & - & 0.01 annual, illustrative \\
N & 5 & periods & 25-year amortisation (literature\_review §7) \\
theta & 0.2 & - & illustrative (uninsured threshold) \\
psi & 0.39 & - & illustrative \\
stress add-on (period) & 0.1218 & - & 0.02 annual, illustrative \\
r (period) & 0.1041 & - & 0.02 annual, illustrative \\
pibar (period) & 0.1041 & - & 0.02 annual (2 \% target) \\
i (period, Fisher) & 0.219 & - & derived \\
phi (landlord wedge) & 0.05 & share of value & illustrative \\
sigma\_seg & 1 & - & spec B.6 \\
eps & 1 & - & ILLUSTRATIVE (no verified Canadian estimate) \\
eps\_r & 1 & - & illustrative \\
tau\_b & 0 & - & policy experiment \\
n\_a / a\_max & 50 / 15.0 & - & grid \\
n\_b & 20 & - & grid \\
n\_x & 120 & - & grid \\
n\_B & 11 & - & grid \\
K\_estate & 5 & - & lottery \\
n\_dynasties & 96{,}000 & - & simulation \\
seed & 20{,}261{,}020 & - & simulation \\
\bottomrule
\end{tabular}
\begin{tablenotes}[flushleft]
\footnotesize
\item Values in period units after the conversions recorded in src/model.py (annual rates compounded over 5 years; the 5-year AR(1) keeps the unconditional variance of the annual process). ``Illustrative'' = no verified Canadian estimate in the literature matrix; the supply elasticity in particular has no verified Canadian source (research/literature\_review.md, \S7). Supply scales $\bar H$, $\bar H_r$ are set by the normalisation $p^* = p^{r*} = 1$. Source file: results/data/parameters.csv.
\end{tablenotes}
\end{threeparttable}
\end{table}