My bibliography
Save this item
A Tax-Based Estimate of the Elasticity of Intertemporal Substitution
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Dufourt, Frédéric & Nishimura, Kazuo & Venditti, Alain, 2015.
"Indeterminacy and sunspots in two-sector RBC models with generalized no-income-effect preferences,"
Journal of Economic Theory, Elsevier, vol. 157(C), pages 1056-1080.
- Frédéric Dufourt & Kazuo Nishimura & Alain Venditti, 2015. "Indeterminacy and Sunspots in Two-Sector RBC Models with Generalized No-Income-Effect Preferences," AMSE Working Papers 1514, Aix-Marseille School of Economics, France.
- Frédéric Dufourt & Kazuo Nishimura & Alain Venditti, 2015. "Indeterminacy and sunspots in two-sector RBC models with generalized no-income-effect preferences," Post-Print hal-01457296, HAL.
- Frédéric Dufourt & Kazuo Nishimura & Alain Venditti, 2015. "Indeterminacy and Sunspots in Two-Sector RBC Models with Generalized No-Income-Effect Preferences," Working Papers halshs-01131411, HAL.
- Nicolas End, 2021.
"The Prince and Me A model of Fiscal Credibility,"
Working Papers
halshs-03222115, HAL.
- Nicolas End, 2021. "The Prince and Me A model of Fiscal Credibility," AMSE Working Papers 2127, Aix-Marseille School of Economics, France.
- Robert Barro & Tao Jin, 2021.
"Rare Events and Long-Run Risks,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 39, pages 1-25, January.
- Robert J. Barro & Tao Jin, 2016. "Rare Events and Long-Run Risks," Working Paper 115371, Harvard University OpenScholar.
- Robert J. Barro & Tao Jin, 2016. "Rare Events and Long-Run Risks," NBER Working Papers 21871, National Bureau of Economic Research, Inc.
- Robert J. Barro & Tao Jin, 2016. "Rare events and long-run risks," AEI Economics Working Papers 905253, American Enterprise Institute.
- Mauro Bambi & Alain Venditti, 2021.
"Time‐varying consumption tax, productive government spending, and aggregate instability,"
International Journal of Economic Theory, The International Society for Economic Theory, vol. 17(2), pages 190-215, June.
- Mauro Bambi & Alain Venditti, 2016. "Time-varying Consumption Tax, Productive Government Spending, and Aggregate Instability," Discussion Papers 16/01, Department of Economics, University of York.
- Mauro Bambi & Alain Venditti, 2019. "Time‐varying consumption tax, productive government spending, and aggregate instability," Post-Print hal-02478346, HAL.
- Mauro Bambi & Alain Venditti, 2018. "Time-varying Consumption Tax, Productive Government Spending, and Aggregate Instability," Working Papers halshs-01934819, HAL.
- Mauro Bambi & Alain Venditti, 2018. "Time-varying Consumption Tax, Productive Government Spending, and Aggregate Instability," AMSE Working Papers 1829, Aix-Marseille School of Economics, France.
- Crump, Richard K. & Eusepi, Stefano & Tambalotti, Andrea & Topa, Giorgio, 2022.
"Subjective intertemporal substitution,"
Journal of Monetary Economics, Elsevier, vol. 126(C), pages 118-133.
- Richard K. Crump & Stefano Eusepi & Andrea Tambalotti & Giorgio Topa, 2015. "Subjective Intertemporal Substitution," Staff Reports 734, Federal Reserve Bank of New York.
- Stefano Eusepi & Giorgio Topa & Andrea Tambalotti & Richard Crump, 2016. "Subjective Intertemporal Substitution," 2016 Meeting Papers 83, Society for Economic Dynamics.
- Barnett, William A. & Wang, Chan & Wang, Xue & Wu, Liyuan, 2019.
"What inflation measure should a currency union target?,"
Journal of Macroeconomics, Elsevier, vol. 59(C), pages 123-139.
- William A. Barnett & Chan Wang & Xue Wang & Liyuan Wu, 2018. "What inflation measure should a currency union target?," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 201805, University of Kansas, Department of Economics, revised May 2018.
- Barnett, William A. & Wang, Chan & Wang, Xue & Wu, Liyuan, 2018. "What inflation measure should a currency union target?," MPRA Paper 87035, University Library of Munich, Germany.
- Mudit Kapoor & Shamika Ravi, 2017. "Elasticity of Intertemporal Substitution in Consumption in the Presence of Inertia: Empirical Evidence from a Natural Experiment," Management Science, INFORMS, vol. 63(12), pages 4188-4200, December.
- Frédéric Dufourt & Kazuo Nishimura & Alain Venditti, 2016.
"Sunspot fluctuations in two-sector models: New results with additively separable preferences,"
International Journal of Economic Theory, The International Society for Economic Theory, vol. 12(1), pages 67-83, March.
- Frédéric Dufourt & Kazuo Nishimura & Alain Venditti, 2015. "Sunspot Fluctuations in Two-Sector Models: New Results with Additively-Separable Preferences," Working Papers halshs-01131425, HAL.
- Frédéric Dufourt & Kazuo Nishimura & Alain Venditti, 2023. "Sunspot fluctuations in two-sector models: New results with additively separable preferences," Working Papers hal-01447848, HAL.
- Frédéric Dufourt & Kazuo Nishimura & Alain Venditti, 2015. "Sunspot Fluctuations in Two-Sector Models: New Results with Additively-Separable Preferences," AMSE Working Papers 1515, Aix-Marseille School of Economics, France.
- Robert J Barro & Jesús Fernández-Villaverde & Oren Levintal & Andrew Mollerus, 2022.
"Safe Assets,"
The Economic Journal, Royal Economic Society, vol. 132(646), pages 2075-2100.
- Robert J. Barro & Jesús Fernández-Villaverde & Oren Levintal & Andrew Mollerus, 2014. "Safe Assets," NBER Working Papers 20652, National Bureau of Economic Research, Inc.
- Robert J. Barro, 2014. "Safe Assets," Working Papers 2014-28, Economic Research Institute, Bank of Korea.
- Fernández-Villaverde, Jesús & Barro, Robert & Levintal, Oren & Mollerus, Andrew, 2017. "Safe Assets," CEPR Discussion Papers 12043, C.E.P.R. Discussion Papers.
- Robert Barro & Jesus Fernandez-Villaverde & Oren Levintal & Andrew Mollerus, 2017. "Safe Assets," PIER Working Paper Archive 17-008, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 10 May 2017.
- Arnaud Cheron & Kazuo Nishimura & Carine Nourry & Thomas Seegmuller & Alain Venditti, 2019.
"Growth and Public Debt: What Are the Relevant Trade‐Offs?,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(2-3), pages 655-682, March.
- Kazuo Nishimura & Carine Nourry & Thomas Seegmuller & Alain Venditti, 2015. "Growth and Public Debt: What Are the Relevant Tradeoffs?," Working Papers halshs-01269945, HAL.
- Arnaud Cheron & Kazuo Nishimura & Carine Nourry & Thomas Seegmuller & Alain Venditti, 2019. "Growth and Public Debt: What Are the Relevant Trade‐Offs?," Post-Print hal-02087092, HAL.
- Kazuo Nishimura & Carine Nourry & Thomas Seegmuller & Alain Venditti, 2016. "Growth and Public Debt: What Are the Relevant Tradeoffs?," AMSE Working Papers 1606, Aix-Marseille School of Economics, France, revised Dec 2015.
- Giorgio Fabbri & Silvia Faggian & Giuseppe Freni, 2022.
"On competition for spatially distributed resources in networks: an extended version,"
Working Papers
2022:03, Department of Economics, University of Venice "Ca' Foscari".
- Giorgio Fabbri & Silvia Faggian & Giuseppe Freni, 2022. "On competition for spatially distributed resources in networks: an extended version," Working Papers hal-03888256, HAL.
- Natalie Cox, 2017. "Pricing, Selection, and Welfare in the Student Loan Market: Evidence from Borrower Repayment Decisions," Working Papers 2017-2, Princeton University. Economics Department..
- Antoine Riche & Francesco Magris & Daria Onori, 2020.
"Monetary rules in a two-sector endogenous growth model,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 69(4), pages 1049-1100, June.
- Antoine Le Riche & Francesco Magris & Daria Onori, 2020. "Monetary rules in a two-sector endogenous growth model," Post-Print hal-03532486, HAL.
- Kazuki Hiraga & Kengo Nutahara, 2016. "When is the Laffer Curve for Consumption Tax Hump-Shaped?," CIGS Working Paper Series 16-002E, The Canon Institute for Global Studies.
- Brendan Epstein & Miles S. Kimball, 2014.
"The Decline of Drudgery and the Paradox of Hard Work,"
International Finance Discussion Papers
1106, Board of Governors of the Federal Reserve System (U.S.).
- Brendan Epstein & Miles S. Kimball, 2021. "The Decline of Drudgery and the Paradox of Hard Work," NBER Working Papers 29041, National Bureau of Economic Research, Inc.
- Bai, Hang & Zhang, Lu, 2022. "Searching for the equity premium," Journal of Financial Economics, Elsevier, vol. 143(2), pages 897-926.
- David Dillenberger & Daniel Gottlieb & Pietro Ortoleva, 2017.
"Stochastic Impatience and the Separation of Time and Risk Preferences,"
PIER Working Paper Archive
20-026, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 05 Jul 2020.
- David Dillenberger & Daniel Gottlieb & Pietro Ortoleva, 2020. "Stochastic Impatience and the Separation of Time and Risk Preferences," Working Papers 2020-54, Princeton University. Economics Department..
- David Dillenberger & Daniel Gottlieb & Pietro Ortoleva, 2018. "Stochastic Impatience and the Separation of Time and Risk Preferences," PIER Working Paper Archive 18-020, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 08 Sep 2018.
- Frédéric Dufourt & Kazuo Nishimura & Alain Venditti, 2023.
"Expectations, beliefs and the business cycle: theoretical analysis,"
Working Papers
hal-04311501, HAL.
- Frédéric Dufourt & Kazuo Nishimura & Alain Venditti, 2023. "Expectations, beliefs and the business cycle: theoretical analysis," AMSE Working Papers 2327, Aix-Marseille School of Economics, France.
- Felipe S. Iachan & Plamen T. Nenov & Alp Simsek, 2021.
"The Choice Channel of Financial Innovation,"
American Economic Journal: Macroeconomics, American Economic Association, vol. 13(2), pages 333-372, April.
- Felipe S. Iachan & Plamen T. Nenov & Alp Simsek, 2015. "The Choice Channel of Financial Innovation," NBER Working Papers 21686, National Bureau of Economic Research, Inc.
- ÅžimÅŸek, Alp & Iachan, Felipe Saraiva & Nenov, Plamen T., 2020. "The Choice Channel of Financial Innovation," CEPR Discussion Papers 14361, C.E.P.R. Discussion Papers.
- Dufourt, Frédéric & Venditti, Alain & Vivès, Rémi, 2018.
"On sunspot fluctuations in variable capacity utilization models,"
Journal of Mathematical Economics, Elsevier, vol. 76(C), pages 80-94.
- Frédéric Dufourt & Alain Venditti & Rémi Vives, 2017. "On Sunspot Fluctuations in Variable Capacity Utilization Models," AMSE Working Papers 1827, Aix-Marseille School of Economics, France.
- Frederic Dufourt & Alain Venditti & Rémi Vivès, 2018. "On sunspot fluctuations in variable capacity utilization models," Post-Print hal-01729346, HAL.
- Kevin Genna & Christian Ghiglino & Kazuo Nishimura & Alain Venditti, 2024.
"Knowledge-based structural change,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 78(4), pages 1333-1388, December.
- Kevin Genna & Christian Ghiglino & Kazuo Nishimura & Alain Venditti, 2021. "Knowledge-Based Structural Change," AMSE Working Papers 2119, Aix-Marseille School of Economics, France.
- Kevin Genna & Christian Ghiglino & Kazuo Nishimura & Alain Venditti, 2024. "Knowledge-based structural change," Post-Print hal-04676099, HAL.
- Kevin Genna & Christian Ghiglino & Kazuo Nishimura & Alain Venditti, 2021. "Knowledge-Based Structural Change," Working Papers halshs-03164854, HAL.
- Keunbae Ahn, 2021. "Predictable Fluctuations in the Cross-Section and Time-Series of Asset Prices," PhD Thesis, Finance Discipline Group, UTS Business School, University of Technology, Sydney, number 1-2021, January-A.
- Kovacs, Agnes & Rondinelli, Concetta & Trucchi, Serena, 2021.
"Permanent versus transitory income shocks over the business cycle,"
European Economic Review, Elsevier, vol. 139(C).
- Agnes Kovacs & Concetta Rondinelli & Serena Trucchi, 2018. "Permanent versus Transitory Income Shocks over the Business Cycle," Working Papers 2018:23, Department of Economics, University of Venice "Ca' Foscari".
- Agnes Kovacs & Concetta Rondinelli & Serena Trucchi, 2021. "Permanent versus transitory income shocks over the business cycle," Temi di discussione (Economic working papers) 1354, Bank of Italy, Economic Research and International Relations Area.
- Bertinelli, Luisito & Cardi, Olivier & Restout, Romain, 2022.
"Labor market effects of technology shocks biased toward the traded sector,"
Journal of International Economics, Elsevier, vol. 138(C).
- Luisito BERTINELLI & Olivier CARDI & Romain RESTOUT, 2018. "Labor Market Effects of Technology Shocks BiasedToward the Traded Sector," LEO Working Papers / DR LEO 2586, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
- Luisito Bertinelli & Olivier Cardi & Romain Restout, 2022. "Labor market effects of technology shocks biased toward the traded sector," Post-Print hal-03932336, HAL.
- Luisito BERTINELLI & Olivier CARDI & Romain RESTOUT, 2021. "Labor Market Effects Of Technology Shocks Biased Toward The Traded Sector," Working Papers of BETA 2021-09, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
- Romain RESTOUT & Olivier CARDI & Romain RESTOUT, 2020. "Labor Market Effects Of Technology Shocks Biased Toward The Traded Sector," Working Papers of BETA 2020-01, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
- Luisito Bertinelli & Olivier Cardi & Romain Restout, 2019. "Labor Market Effects of Technology Shocks Biased toward the Traded Sector," Working Papers 283847880, Lancaster University Management School, Economics Department.
- Luisito Bertinelli & Olivier Cardi & Romain Restout, 2021. "Labor Market Effects of Technology Shocks Biased toward the Traded Sector," Working Papers 342990229, Lancaster University Management School, Economics Department.
- Luisito Bertinelli & Olivier Cardi & Romain Restout, 2019. "Labor Market Effects of Technology Shocks Biased Toward the Traded Sector," DEM Discussion Paper Series 19-18, Department of Economics at the University of Luxembourg.
- Luisito Bertinelli & Olivier Cardi & Romain Restout, 2021. "Labor Market Effects of Technology Shocks Biased Toward the Traded Sector," DEM Discussion Paper Series 21-15, Department of Economics at the University of Luxembourg.
- Sebastian Di Tella, 2017. "Optimal Regulation of Financial Intermediaries," 2017 Meeting Papers 28, Society for Economic Dynamics.
- Frédéric Dufourt & Kazuo Nishimura & Alain Venditti, 2022.
"Expectations, self-fulfilling prophecies and the business cycle,"
Working Papers
hal-03923946, HAL.
- Frédéric Dufourt & Kazuo Nishimura & Alain Venditti, 2023. "Expectations, self-fulfilling prophecies and the business cycle," AMSE Working Papers 2234, Aix-Marseille School of Economics, France.
- Cabo, Francisco & Martín-Herrán, Guiomar & Martínez-García, María Pilar, 2020. "Present bias and the inefficiency of the centralized economy: The role of the elasticity of intertemporal substitution," Economic Modelling, Elsevier, vol. 93(C), pages 702-716.
- Michael Carlos Best & James S Cloyne & Ethan Ilzetzki & Henrik J Kleven, 2020.
"Estimating the Elasticity of Intertemporal Substitution Using Mortgage Notches,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 87(2), pages 656-690.
- Best, Michael & Cloyne, James & Ilzetzki, Ethan & Kleven, Henrik, 2018. "Estimating the Elasticity of Intertemporal Substitution Using Mortgage Notches," CEPR Discussion Papers 13104, C.E.P.R. Discussion Papers.
- Best, Michael Carlos & Cloyne, James & Ilzetzki, Ethan & Kleven, Henrik Jacobsen, 2020. "Estimating the elasticity of intertemporal substitution using mortgage notches," LSE Research Online Documents on Economics 88185, London School of Economics and Political Science, LSE Library.
- Michael Carlos Best & James Cloyne & Ethan Ilzetzki & Henrik Kleven, 2018. "Estimating the Elasticity of Intertemporal Substitution Using Mortgage Notches," NBER Working Papers 24948, National Bureau of Economic Research, Inc.
- Bahloul Zekkari, Kathia & Seegmuller, Thomas, 2020.
"Asset bubble and endogenous labor supply: A clarification,"
Economics Letters, Elsevier, vol. 196(C).
- Kathia Bahloul Zekkari & Thomas Seegmuller, 2020. "Asset bubble and endogenous labor supply: a clarification," Working Papers hal-02894741, HAL.
- Kathia Bahloul Zekkari & Thomas Seegmuller, 2020. "Asset bubble and endogenous labor supply: a clarification," AMSE Working Papers 2026, Aix-Marseille School of Economics, France.
- Kathia Bahloul Zekkari & Thomas Seegmuller, 2020. "Asset bubble and endogenous labor supply: A clarification," Post-Print hal-03002581, HAL.
- Abad, Nicolas & Lloyd-Braga, Teresa & Modesto, Leonor, 2020.
"The failure of stabilization policy: Balanced-budget fiscal rules in the presence of incompressible public expenditures,"
Journal of Economic Dynamics and Control, Elsevier, vol. 120(C).
- Nicolas Abad & Teresa Lloyd-Braga & Leonor Modesto, 2019. "The failure of stabilization policy: balanced-budget fiscal rules in the presence of incompressible public expenditures," Working Papers hal-02331811, HAL.
- David B. Cashin, 2017. "The Household Expenditure Response to a Consumption Tax Rate Increase," Finance and Economics Discussion Series 2017-035, Board of Governors of the Federal Reserve System (U.S.).
- Niemeläinen, Julia, 2021. "External imbalances between China and the United States: A dynamic analysis with a life-cycle model," Journal of International Economics, Elsevier, vol. 131(C).
- Kei Hosoya, 2024. "Endogenous time preference and infrastructure-led growth with an unexpected numerical example," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 23(1), pages 3-32, January.
- Selahattin Imrohoroglu, 2023. "Mpk," CIGS Working Paper Series 24-002E, The Canon Institute for Global Studies.
- Kazuki Hiraga & Kengo Nutahara, 2019. "Fragility in modeling consumption tax revenue," CIGS Working Paper Series 19-003E, The Canon Institute for Global Studies.
- Abad, Nicolas & Seegmuller, Thomas & Venditti, Alain, 2017.
"Nonseparable Preferences Do Not Rule Out Aggregate Instability Under Balanced-Budget Rules: A Note,"
Macroeconomic Dynamics, Cambridge University Press, vol. 21(1), pages 259-277, January.
- Nicolas Abad & Thomas Seegmuller & Alain Venditti, 2014. "Non-Separable Preferences do not Rule Out Aggregate Instability under Balanced-Budget Rules: A Note," Working Papers halshs-01933532, HAL.
- Nicolas Abad & Thomas Seegmuller & Alain Venditti, 2017. "Nonseparable preferences do not rule out aggregate instability under balanced-budget rules: a note," Post-Print hal-01505770, HAL.
- Nicolas Abad & Thomas Seegmuller & Alain Venditti, 2014. "Non-Separable Preferences do not Rule Out Aggregate Instability under Balanced-Budget Rules: A Note," AMSE Working Papers 1826, Aix-Marseille School of Economics, France.
- Julien Hugonnier & Florian Pelgrin & Pascal St‐Amour, 2020.
"Closing down the shop: Optimal health and wealth dynamics near the end of life,"
Health Economics, John Wiley & Sons, Ltd., vol. 29(2), pages 138-153, February.
- Hugonnier, J. & Pelgrin, F. & St-Amour, P., 2016. "Closing Down the Shop: Optimal Health and Wealth Dynamics near the End of Life," Health, Econometrics and Data Group (HEDG) Working Papers 16/28, HEDG, c/o Department of Economics, University of York.
- Julien Hugonnier & Florian Pelgrin & Pascal St-Amour, 2017. "Closing Down the Shop: Optimal Health and Wealth Dynamics Near the End of Life," Swiss Finance Institute Research Paper Series 17-11, Swiss Finance Institute, revised May 2018.
- Horvath, Jaroslav, 2020. "Macroeconomic disasters and the equity premium puzzle: Are emerging countries riskier?," Journal of Economic Dynamics and Control, Elsevier, vol. 112(C).
- Campanale, Claudio & Sartarelli, Marcello, 2024.
"Life-cycle wealth accumulation and consumption insurance,"
Journal of Macroeconomics, Elsevier, vol. 79(C).
- Claudio Campanale & Marcello Sartarelli, 2018. "“Life-cycle Wealth Accumulation and Consumption Insurance"," CeRP Working Papers 186, Center for Research on Pensions and Welfare Policies, Turin (Italy).
- Claudio Campanale & Marcello Sartarelli, 2018. "Life-cycle Wealth Accumulation and Consumption Insurance," Working Papers. Serie AD 2018-06, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Claudio Campanale & Marcello Sartarelli, 2018. "Life-cycle Wealth Accumulation and Consumption Insurance," Working papers 055, Department of Economics, Social Studies, Applied Mathematics and Statistics (Dipartimento di Scienze Economico-Sociali e Matematico-Statistiche), University of Torino.
- Gustafsson, Johan, 2024. "Favorable tax treatment of older workers in general equilibrium," Umeå Economic Studies 1023, Umeå University, Department of Economics.
- Zhiming Fu & Antoine Le Riche, 2021. "Progressive consumption tax and monetary policy in an endogenous growth model," Journal of Economics, Springer, vol. 133(3), pages 271-293, August.
- Bergstrom, Katy & Dodds, William, 2023. "Using schooling decisions to estimate the elasticity of marginal utility of consumption," Journal of Public Economics, Elsevier, vol. 224(C).
- Michael Nwogugu, 2020. "Regret Theory And Asset Pricing Anomalies In Incomplete Markets With Dynamic Un-Aggregated Preferences," Papers 2005.01709, arXiv.org.
- Ben Lockwood & Erez Yerushalmi, 2019. "How should payment services be taxed?," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 53(1), pages 21-47, June.
- Bouché, Stéphane, 2017. "Learning by doing, endogenous discounting and economic development," Journal of Mathematical Economics, Elsevier, vol. 73(C), pages 34-43.
- de Castro, Luciano & Cundy, Lance D. & Galvao, Antonio F. & Westenberger, Rafael, 2023. "A dynamic quantile model for distinguishing intertemporal substitution from risk aversion," European Economic Review, Elsevier, vol. 159(C).
- Miles S. Kimball & Daniel Reck & Fudong Zhang & Fumio Ohtake & Yoshiro Tsutsui, 2024. "Diminishing Marginal Utility Revisited," NBER Working Papers 32077, National Bureau of Economic Research, Inc.
- Robert Barro & Tao Jin, 2021.
"Rare Events and Long-Run Risks,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 39, pages 1-25, January.
- Robert Barro & Tao Jin, 2020. "Online Appendix to "Rare Events and Long-Run Risks"," Online Appendices 18-485, Review of Economic Dynamics.