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capital accu- mulation. Our estimation strategy searches for parameters that minimize ex post errors in an Euler equation … estimation of parameters of dynamic optimization problems in which non-convexities lead to extended periods of investment …
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"Studies of the consumption-smoothing benefits of unemployment insurance (UI) have found that the optimal benefit level is very small, perhaps even 0, for conventional levels of risk aversion. In this paper, I derive a formula for the optimal benefit rate in terms of income and price...
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