Barseghyan, Levon (contributor); … - 2005
a
small fraction of the original cost.
8See, for example, Atkeson and Kehoe (2005).
5
max
1X
t=0
tU(Ct); 2 (0;1) (1 …-sectional average, evolves according to the
following �rst-order process:
ft+ (y) =
Z +1
1
g(yjx)ft (x)dx; (34)
where ft denotes the … distribution,
f1, solves
f1 (y) =
Z +1
1
g(yjx)f1 (x)dx: (35)
We estimate f1 non-parametrically as follows:
the joint …