diff --git a/examples/agtrend.mod b/examples/agtrend.mod
index a50748707b74391f8fb2e91275d99bffe5167815..619e5421b995f7449fab4f308b2b5a259cef4113 100644
--- a/examples/agtrend.mod
+++ b/examples/agtrend.mod
@@ -93,7 +93,7 @@ phi = 3.76;
 @#endif
 
 @#if ghh == 1
-r_star = mu_g^(-sigma)/beta - 1;
+r_star = mu_g^sigma/beta - 1;
 @#else
 r_star = mu_g^(1-gamma*(1-sigma))/beta - 1;
 @#endif