This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Information about:
Stephen Pudney

Personal Details | Affiliation | Works
This is information that was supplied by Stephen Pudney in registering through RePEc. If you are Stephen Pudney , you may change this information at RePEc. Or if you are not registered and would like to be listed as well, register at RePEc. When you register or update your RePEc registration, you may identify the papers and articles you have authored.

Other registered authors

Personal Details

First Name: Stephen
Middle Name:
Last Name: Pudney
Suffix:

RePEc Short-ID: ppu13

Email: [This author has chosen not to make the email address public]
Homepage:
Postal Address:
Phone:

Affiliation

(in no particular order)

Lists

This author is among the top 5% authors according to these criteria:
  1. Number of Works
  2. Number of Distinct Works
  3. Number of Distinct Works, Weighted by Number of Authors
  4. Number of Journal Pages
  5. Number of Journal Pages, Weighted by Simple Impact Factor
  6. Number of Journal Pages, Weighted by Number of Authors
  7. Number of Journal Pages, Weighted by Number of Authors and Simple Impact Factors
  8. Number of Journal Pages, Weighted by Number of Authors and Recursive Impact Factors

Works

| Working papers | Articles | Access and download statistics | Citations (if any)| NEP Fields |
Download all references for this author: available formats: HTML (with abstracts), plain text (with abstracts), BibTeX, RIS (EndNote), ReDIF

Working papers

  1. Pudney S, 2009. "Participation in disability benefit programmes. A partial identification analysis of the British Attendance Allowance system," ISER working papers 2009-19, Institute for Social and Economic Research. [Downloadable!]

  2. Conti G & Galeotti A & Mueller G & Pudney S, 2009. "Popularity," ISER working papers 2009-03, Institute for Social and Economic Research. [Downloadable!]

  3. Pudney S, 2008. "Heaping and leaping: Survey response behaviour and the dynamics of self-reported consumption expenditure," ISER working papers 2008-09, Institute for Social and Economic Research. [Downloadable!]

  4. Conti G & Pudney S, 2008. "If you're Happy and you Know It, Clap Your Hands! Survey Design and the Analysis of Satisfaction," ISER working papers 2008-39, Institute for Social and Economic Research. [Downloadable!]

  5. Stephen Pudney, 2007. "Rarely pure and never simple: extracting the truth from self-reported data on substance use," CeMMAP working papers CWP11/07, Centre for Microdata Methods and Practice, Institute for Fiscal Studies. [Downloadable!]

  6. Kan M & Pudney S, 2007. "Measurement Error in Stylised and Diary Data on Time Use," ISER working papers 2007-03, Institute for Social and Economic Research. [Downloadable!]

  7. Hernandez M & Pudney S, 2006. "Measurement Error in Models of Welfare Participation," ISER working papers 2006-29, Institute for Social and Economic Research. [Downloadable!]
    Published as:

  8. Pudney S, 2006. "The Dynamics of Perception: Modelling subjective well-being in a short panel," ISER working papers 2006-27, Institute for Social and Economic Research. [Downloadable!]
    Published as:

  9. Hancock R & Pudney S & Zantomio F, 2006. "Estimating the Impact of a Policy Reform on Welfare Participation: The 2001 extension to the Minimum Income Guarantee for UK pensioners," ISER working papers 2006-21, Institute for Social and Economic Research. [Downloadable!]

  10. Monica Hernandez & Stephen Pudney & Ruth Hancock, 2006. "The Welfare Cost of Means Testing: Pensioner Participation in Income," Working Papers 2006004, The University of Sheffield, Department of Economics, revised Apr 2006. [Downloadable!]

  11. Stephen Pudney & Nikolaos Theodoropoulos, 2006. "Firm-Specific Gender and Ethnicity Pay Differentials in Britain," University of Cyprus Working Papers in Economics 9-2006, University of Cyprus Department of Economics. [Downloadable!]

  12. Pudney S & Mealli F & Rosati F, 2006. "Measuring the Economic Vulnerability of Children in Developing Countries: an application to Guatemala," ISER working papers 2006-28, Institute for Social and Economic Research. [Downloadable!]

  13. Pudney S & Francavilla F, 2006. "Income Mis-Measurement and the Estimation of Poverty Rates. An Analysis of Income Poverty in Albania," ISER working papers 2006-35, Institute for Social and Economic Research. [Downloadable!]

  14. Arnstein Aassve & Henriette Engelhardt & Francesca Francavilla & Abbi Kedir & Jungho Kim & Fabrizia Mealli & Letizia Mencarini & Stephen Pudney & Alexia Prskawetz, 2005. "Poverty and Fertility in Less Developed Countries: A Comparative Analysis," Discussion Papers in Economics 05/28, Department of Economics, University of Leicester. [Downloadable!]
    Other versions:

  15. Stephen Pudney, 2005. "Estimation of dynamic linear models in short panels with ordinal observation," CeMMAP working papers CWP05/05, Centre for Microdata Methods and Practice, Institute for Fiscal Studies. [Downloadable!]

  16. Pudney S & Hancock R & Sutherland H, 2004. "Simulating the Reform of Means-Tested Benefits with Endogenous Take-Up and Claim Costs," ISER working papers 2004-04, Institute for Social and Economic Research. [Downloadable!]
    Published as:

  17. F. Mealli & S. Pudney & F.Rosati, 2004. "Measuring the Vulnerability of Children in Developing Countries: An Application to Guatemala," UCW Working Paper 14, Understanding Children's Work (UCW Project). [Downloadable!]
    Other versions:

  18. Pudney S & Hancock R & Hernandez M, 2004. "Participation in Multiple Welfare Programmes: discrete choice with heterogeneous awareness," ISER working papers 2004-15, Institute for Social and Economic Research. [Downloadable!]

  19. Pudney, Stephen & Monica Hernandez & Ruth Hancock, 2003. "The Welfare Cost of Means-Testing: Pensioner Participation in Income Support," Royal Economic Society Annual Conference 2003 171, Royal Economic Society. [Downloadable!]
    Other versions:
    Published as:

  20. Ziggy MacDonald & Stephen Pudney, 2003. "The Use of Self-Report and Drugs Tests in the Measurement of Illicit Drug Consumpiton," Discussion Papers in Economics 03/3, Department of Economics, University of Leicester. [Downloadable!]

  21. Ruth Hancock & Stephen Pudney & Geraldine Barker & Monica Hernandez & Holly Sutherland, 2003. "The take-up of multiple means-tested benefits by British pensioners. Evidence from the Family Resources Survey," Discussion Papers in Economics 03/7, Department of Economics, University of Leicester. [Downloadable!]
    Published as:

  22. Stephen Pudney, 2001. "Keeping off the Grass? An Econometric Model of Cannabis Consumption by Young People in Britain," Discussion Papers in Economics 02/9, Department of Economics, University of Leicester, revised Mar 2002. [Downloadable!]

  23. Andrew Hildreth & Stephen E. Pudney, 2000. "Econometric Issues in the Analysis of Linked Longitudinal Employer-Worker Data," Econometric Society World Congress 2000 Contributed Papers 1925, Econometric Society. [Downloadable!]

  24. Francesco Galassi & Stephen Pudney, 2000. "Risk in Tuscan Agriculture in the Late 19th and Early 20th Centuries," Discussion Papers in Economics 00/3, Department of Economics, University of Leicester. [Downloadable!]

  25. Stephen Pudney & Michael A. Shields, 1999. "Gender And Racial Discrimination In Pay And Promotion For Nhs Nurses," IZA Discussion Papers 85, Institute for the Study of Labor (IZA). [Downloadable!]
    Published as:

  26. Galassi, F.L. & Pudney, S., 1999. "Output Risk in Tuscan Agriculture in the Late 19th and Early 20th Centuries," The Warwick Economics Research Paper Series (TWERPS) 552, University of Warwick, Department of Economics.

  27. Stephen Pudney & Jonathan Thomas, 1997. "On a specification test for competing risk models," IFS Working Papers W97/22, Institute for Fiscal Studies.

  28. Jarvis, Sarah & Pudney, Stephen, 1995. "Redistributive Policy in a Transition Economy: The Case of Hungary," CEPR Discussion Papers 1117, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)

  29. Pudney, S. & Limin, W., 1993. "Housing and Housing Reform in Urban China: Efficiency, Distribution and Implications for Social Security," Papers 9303, Cambridge - D.P. on Economic Transition.

  30. Pudney, S., 1992. "Social Security Reform in Urban China: The Case of Shanghai," Papers 9202, Cambridge - D.P. on Economic Transition.

  31. Pudney, S., 1992. "Economic Transformation and Income Distribution in Hungary: Can the Tax Benefit System Cope?," Papers 9201, Cambridge - D.P. on Economic Transition.

  32. Stephen Pudney, . "On the Use of Algorithms for Optimal Targeting of Income Transfers," Discussion Papers in Public Sector Economics 95/2, Department of Economics, University of Leicester.

  33. Ziggy MacDonald & Stephen Pudney, . "Analysing Drug Abuse with British Crime Survey Data: Modelling and Questionnaire Design Issues," Discussion Papers in Public Sector Economics 98/11, Department of Economics, University of Leicester. [Downloadable!]
    Published as:

  34. Ziggy MacDonald & Stephen Pudney, . "The Wages of Sin? Illegal Drug Use and the Labour Market," Discussion Papers in Public Sector Economics 99/6, Department of Economics, University of Leicester. [Downloadable!]

  35. Stephen Pudney & Nikolay Markov & Robert Ackrill, . "Indirect Tax Reform in Bulgaria," Discussion Papers in European Economics 99/3, Department of Economics, University of Leicester. [Downloadable!]

  36. Rumen Dobrinsky & Nikolay Markov & Stephen Pudney, . "Poverty and Social Security in Bulgaria During Transition," Discussion Papers in European Economics 96/4, Department of Economics, University of Leicester.

  37. Stephen Pudney, . "The Road to Ruin? Sequences of Initiation to Drug Use and Offending by Young People in Britain," Discussion Papers in Public Sector Economics 01/3, Department of Economics, University of Leicester. [Downloadable!]
    Other versions:

  38. Stephen Pudney & Michael Shields, . "Gender, Race, Pay and Promotion in the British Nursing Profession Estimation of a Generalised Ordered ProbitModel," Discussion Papers in Economics 97/4, Department of Economics, University of Leicester.
    Other versions:
    Published as:

  39. Ziggy MacDonald & Stephen Pudney, . "Illicit Drug Use and labour Market Achievement: Evidence from the UK," Discussion Papers in Public Sector Economics 98/2, Department of Economics, University of Leicester. [Downloadable!]
    Published as:

  40. Stephen Pudney, . "On Some Statistical Methods for Modelling the Incidence of Poverty," Discussion Papers in Economics 97/1, Department of Economics, University of Leicester.
    Other versions:
    Published as:

  41. Stephen Pudney, . "Household Welfare Change During Economic Transition in Hungary An Application of Semiparametric Estimation," Discussion Papers in Economics 95/4, Department of Economics, University of Leicester.

  42. Ruth Hancock & Stephen Pudney, . "State Pensions and the Welfare of Pensioners during Economic Transition: An Analysis of Hungarian Survey Data," Discussion Papers in European Economics 96/1, Department of Economics, University of Leicester.

  43. Francesco Galassi & Fabrizia Mealli & Stephen Pudney, . "Econometrics and the Renaissance: A Discrete Random-Effects Panel Data Model of Farm Tenures in Fifteenth Century Florence," Discussion Papers in Economics 96/6, Department of Economics, University of Leicester.

  44. Stephen Pudney, . "The growth of Illicit Drugs Markets in the UK 1978-99," Discussion Papers in Public Sector Economics 01/7, Department of Economics, University of Leicester. [Downloadable!]

  45. Andrew Hildreth & Stephen Pudney, . "Econometric Issues in the Analysis of Linked Cross-Section Employer-Worker Surveys," Discussion Papers in Public Sector Economics 98/3, Department of Economics, University of Leicester. [Downloadable!]

  46. Fabrizia Mealli & Stephen Pudney, . "Applying Heterogeneous Transition Models in Labour Economics: The Role of Youth Training in labour Market transitions," Discussion Papers in Public Sector Economics 99/5, Department of Economics, University of Leicester. [Downloadable!]

  47. Stephen Pudney & Derek Deadman & David Pyle, . "The Effect of Under-Reporting in Statistical Models of Criminal Activity Estimation of an Error Correction Model with Measurement Error," Discussion Papers in Economics 97/3, Department of Economics, University of Leicester.
    Other versions:

  48. Andrew Hildreth & Stephen Pudney, . "Employers, Workers and Unions: An Analysis of a Firm-Worker Panel with Endogenous Sampling, Attrition and Missing Data," Discussion Papers in Economics 96/15, Department of Economics, University of Leicester.

  49. Stephen Pudney, . "Pay Differentials, Discrimination and Worker Grievances," Discussion Papers in Public Sector Economics 00/5, Department of Economics, University of Leicester. [Downloadable!]

  50. Fabrizia Mealli & Stephen Pudney, . "Specification Tests for Random-Effects Transition Models An Application to a Model of the Role of YTS in the Youth Labour Market," Discussion Papers in Economics 95/5, Department of Economics, University of Leicester.

  51. Stephen Pudney, . "On the Impact of Anti-Discrimination Legislation," Discussion Papers in Public Sector Economics 99/3, Department of Economics, University of Leicester. [Downloadable!]

Articles

  1. Stephen Pudney, 2008. "The dynamics of perception: modelling subjective wellbeing in a short panel," Journal Of The Royal Statistical Society Series A, Royal Statistical Society, vol. 171(1), pages 21-40. [Downloadable!] (restricted)
    Other versions:

  2. Hernandez, Monica & Pudney, Stephen, 2007. "Measurement error in models of welfare participation," Journal of Public Economics, Elsevier, vol. 91(1-2), pages 327-341, February. [Downloadable!] (restricted)
    Other versions:

  3. Stephen Pudney & Monica Hernandez & Ruth Hancock, 2007. "The welfare cost of means-testing: pensioner participation in income support," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 22(3), pages 581-598. [Downloadable!]
    Other versions:

  4. Stephen Pudney & Ruth Hancock & Holly Sutherland, 2006. "Simulating the Reform of Means-tested Benefits with Endogenous Take-up and Claim Costs," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 68(2), pages 135-166, 04. [Downloadable!] (restricted)
    Other versions:

  5. Jan Ours & Stephen Pudney, 2006. "On the Economics of Illicit Drugs," De Economist, Springer, vol. 154(4), pages 483-490, December. [Downloadable!] (restricted)

  6. Sarah Brown & Stephen Pudney, 2005. "Hours Constraints and In-Work Poverty," Bulletin of Economic Research, Blackwell Publishing, vol. 57(3), pages 305-315, 07. [Downloadable!] (restricted)

  7. Ruth Hancock & Stephen Pudney & Geraldine Barker & Monica Hernandez & Holly Sutherland, 2004. "The Take-Up of Multiple Means-Tested Benefits by British Pensioners: Evidence from the Family Resources Survey," Fiscal Studies, Institute for Fiscal Studies, vol. 25(3), pages 279-303, September.
    Other versions:

  8. Stephen Pudney, 2004. "Keeping off the grass? An econometric model of cannabis consumption in Britain," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 19(4), pages 435-453. [Downloadable!]

  9. Stephen Pudney, 2003. "The Road to Ruin? Sequences of Initiation to Drugs and Crime in Britain," Economic Journal, Royal Economic Society, vol. 113(486), pages C182-C198, March. [Downloadable!] (restricted)

  10. MacDonald, Ziggy & Pudney, Stephen, 2001. "Illicit Drug Use and Labour Market Achievement: Evidence from the UK," Applied Economics, Taylor and Francis Journals, vol. 33(13), pages 1655-68, October. [Downloadable!] (restricted)
    Other versions:

  11. Stephen Pudney & Nikolay Markov & Robert Ackrill, 2001. "Measuring the welfare costs of EU accession," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 9(2), pages 281-314, July. [Downloadable!] (restricted)

  12. Stephen Pudney & Michael Shields, 2000. "Gender, race, pay and promotion in the British nursing profession: estimation of a generalized ordered probit model," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 15(4), pages 367-399. [Downloadable!]
    Other versions:

  13. Z. MacDonald & S. Pudney, 2000. "Analysing drug abuse with British Crime Survey data: modelling and questionnaire design issues," Journal Of The Royal Statistical Society Series C, Royal Statistical Society, vol. 49(1), pages 95-117. [Downloadable!] (restricted)
    Other versions:

  14. S. Pudney & D. Deadman & D. Pyle, 2000. "The relationship between crime, punishment and economic conditions: is reliable inference possible when crimes are under-recorded?," Journal Of The Royal Statistical Society Series A, Royal Statistical Society, vol. 163(1), pages 81-97. [Downloadable!] (restricted)

  15. Pudney, Stephen & Shields, Michael A, 2000. " Gender and Racial Discrimination in Pay and Promotion for NHS Nurses," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 62(0), pages 801-35, Special I. [Downloadable!] (restricted)
    Other versions:

  16. MacDonald, Ziggy & Pudney, Stephen, 2000. "Illicit drug use, unemployment, and occupational attainment," Journal of Health Economics, Elsevier, vol. 19(6), pages 1089-1115, November. [Downloadable!] (restricted)

  17. Pudney, Stephen, 1999. " On Some Statistical Methods for Modelling the Incidence of Poverty," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(3), pages 385-408, August. [Downloadable!] (restricted)
    Other versions:

  18. Pudney, Stephen & Galassi, Francesco L & Mealli, Fabrizia, 1998. "An Econometric Model of Farm Tenures in Fifteenth-Century Florence," Economica, London School of Economics and Political Science, vol. 65(260), pages 535-56, November. [Downloadable!] (restricted)

  19. Mealli, Fabrizia & Pudney, Stephen, 1996. "Occupational Pensions and Job Mobility in Britain: Estimation of a Random-Effects Competing Risks Model," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 11(3), pages 293-320, May-June. [Downloadable!] (restricted)

  20. Mealli, Fabrizia & Pudney, Stephen & Thomas, Jonathan M, 1996. "Training Duration and Post-training Outcomes: A Duration-Limited Competing Risks Model," Economic Journal, Royal Economic Society, vol. 106(435), pages 422-33, March. [Downloadable!] (restricted)

  21. Pudney, Stephen & Thomas, Jonathan, 1995. "Specification Tests for the Competing Risks Duration Model: An Application to Unemployment Duration and Sectoral Movement," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 57(3), pages 323-47, August.

  22. Pudney, Stephen & Wang, Limin, 1995. "Housing Reform in Urban China: Efficiency, Distribution and the Implications for Social Security," Economica, London School of Economics and Political Science, vol. 62(246), pages 141-59, May. [Downloadable!] (restricted)

  23. Pudney, Stephen, 1994. " Earnings Inequality in Hungary: A Comparative Analysis of Household and Enterprise Survey Data," Economic Change and Restructuring, Springer, vol. 27(3), pages 251-76.

  24. Pudney, Stephen & Sutherland, Holly, 1994. "How reliable are microsimulation results? : An analysis of the role of sampling error in a U.K. tax-benefit model," Journal of Public Economics, Elsevier, vol. 53(3), pages 327-365, March. [Downloadable!] (restricted)

  25. Kurosawa, Masako & Pudney, Stephen, 1993. "A method for the analysis of the timing and magnitude of events in a continuous-time panel : The effects of British incomes policy, 1950-1973," Journal of Econometrics, Elsevier, vol. 59(1-2), pages 161-185, September. [Downloadable!] (restricted)

  26. Pudney, Stephen, 1993. " Household Survey Data, Econometrics and Economic Transition," Economic Change and Restructuring, Springer, vol. 26(1), pages 55-80.

  27. Pudney, Stephen, 1993. "Income and Wealth Inequality and the Life Cycle: A Non-parametric Analysis for China," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 8(3), pages 249-76, July-Sept. [Downloadable!] (restricted)

  28. Ilmakunnas, Seija & Pudney, Stephen, 1990. "A model of female labour supply in the presence of hours restrictions," Journal of Public Economics, Elsevier, vol. 41(2), pages 183-210, March. [Downloadable!] (restricted)

  29. Stephen Pudney, 1988. "Estimating engel curves : a generalisation of the P-Tobit model," Finnish Economic Papers, Finnish Economic Association, vol. 1(2), pages 129-147, Autumn. [Downloadable!]

  30. Pudney, S. E., 1982. "The identification of rational expectations models under structural neutrality," Journal of Economic Dynamics and Control, Elsevier, vol. 4(1), pages 117-121, November. [Downloadable!] (restricted)

  31. Pudney, Steven E, 1981. "Instrumental Variable Estimation of a Characteristics Model of Demand," Review of Economic Studies, Blackwell Publishing, vol. 48(3), pages 417-33, July. [Downloadable!] (restricted)

  32. Pudney, Stephen E, 1981. "An Empirical Method of Approximating the Separable Structure of Consumer Preferences," Review of Economic Studies, Blackwell Publishing, vol. 48(4), pages 561-77, October. [Downloadable!] (restricted)

  33. Pudney, Stephen E, 1980. "Disaggregated Demand Analysis: The Estimation of a Class of Non-linear Demand Systems," Review of Economic Studies, Blackwell Publishing, vol. 47(5), pages 875-92, October. [Downloadable!] (restricted)

NEP Fields

34 papers by this author were announced in NEP, and specifically in the following field reports (number of papers):
  1. NEP-AGE: Economics of Ageing (1) 2009-07-11
  2. NEP-AGR: Agricultural Economics (1) 2000-04-17
  3. NEP-BEC: Business Economics (1) 2004-11-22
  4. NEP-CBE: Cognitive & Behavioural Economics (1) 2006-06-17
  5. NEP-CMP: Computational Economics (1) 2004-06-22
  6. NEP-DCM: Discrete Choice Models (5) 1998-09-28 2003-06-16 2005-02-01 2005-06-14 2007-03-17 Author is listed
  7. NEP-DEV: Development (2) 2005-12-14 2006-07-02
  8. NEP-ECM: Econometrics (5) 1998-09-28 2005-06-14 2006-06-17 2006-07-02 2007-05-04 Author is listed
  9. NEP-EDU: Education (1) 2009-02-07
  10. NEP-ETS: Econometric Time Series (1) 2005-06-14
  11. NEP-HAP: Economics of Happiness (1) 2009-01-17
  12. NEP-HEA: Health Economics (6) 1999-11-08 2001-07-23 2002-07-08 2003-04-21 2004-11-22 2009-07-11 Author is listed
  13. NEP-HIS: Business, Economic & Financial History (1) 2000-04-17
  14. NEP-HPE: History & Philosophy of Economics (1) 2009-01-17
  15. NEP-IAS: Insurance Economics (1) 2000-04-17
  16. NEP-LAB: Labour Economics (8) 1999-08-04 1999-09-17 1999-11-08 2000-01-24 2000-04-17 2003-04-21 2009-01-17 2009-02-07 Author is listed
  17. NEP-LAM: Central & South America (1) 2006-07-02
  18. NEP-LAW: Law & Economics (1) 1999-08-04
  19. NEP-LTV: Unemployment, Inequality & Poverty (2) 1998-09-28 2005-12-14
  20. NEP-MIC: Microeconomics (2) 2001-07-23 2002-04-25
  21. NEP-PBE: Public Economics (1) 2003-06-16
  22. NEP-PUB: Public Finance (1) 1999-06-08
  23. NEP-SEA: South East Asia (1) 2005-12-09
  24. NEP-TRA: Transition Economics (1) 2006-08-05
Did you know? You can include your works in the database easily by uploading them on the Munich Personal RePEc Archive (MPRA) if you do not have access to an institutional RePEc archive.

This page was last updated on 2009-10-27.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.