quant-econ.bib

###
QuantEcon Bibliography File used in conjuction with sphinxcontrib-bibtex package
Note: Extended Information (like abstracts, doi, url's etc.) can be found in quant-econ-extendedinfo.bib file in _static/
###

@article{gorman1953community,
  title={Community preference fields},
  author={Gorman, William M.},
  journal={Econometrica: Journal of the Econometric Society},
  volume={21},
  number={1},
  pages={63--80},
  year={1953},
  publisher={JSTOR}
}

@article{negishi1960welfare,
  title={Welfare economics and existence of an equilibrium for a competitive economy},
  author={Negishi, Takashi},
  journal={Metroeconomica},
  volume={12},
  number={2-3},
  pages={92--97},
  year={1960},
  publisher={Wiley Online Library}
}

@article{rubinstein1974aggregation,
  title={An aggregation theorem for securities markets},
  author={Rubinstein, Mark},
  journal={Journal of Financial Economics},
  volume={1},
  number={3},
  pages={225--244},
  year={1974},
  publisher={Elsevier}
}

@techreport{boerma2023composite,
  title={Composite sorting},
  author={Boerma, Job and Tsyvinski, Aleh and Wang, Ruodu and Zhang, Zhenyuan},
  year={2024},
  institution={University of Wisconsin}
}

@article{delon2011minimum,
  title={Minimum-weight perfect matching for non-intrinsic distances on the line},
  author={Delon, Julie and Salomon, Julien and Sobolevski, Andrei},
  journal={arXiv preprint arXiv:1102.1558},
  year={2011}
}

@article{sargent1973stability,
  title={The stability of models of money and growth with perfect foresight},
  author={Sargent, Thomas J and Wallace, Neil},
  journal={Econometrica: Journal of the Econometric Society},
  pages={1043--1048},
  year={1973},
  publisher={JSTOR}
}


@book{Shannon_1949,
author = {Claude E. Shannon and Warren Weaver},
title = {The Mathematical Theory of Communication},
year = {1949},
publisher = {University of Illinois Press},
address = {Urbana} 
}

@Article{Backus_Chernov_Zin,
  author={David Backus and Mikhail Chernov and Stanley Zin},
  title={{Sources of Entropy in Representative Agent Models}},
  journal={Journal of Finance},
  year=2014,
  volume={69},
  number={1},
  pages={51-99},
  month={February},
  keywords={},
  doi={},
  abstract={ type=\"main\"> We propose two data-based performance measures for asset pricing models and apply them to models with recursive utility and habits. Excess returns on risky securities are reflected in the pricing kernel's dispersion and riskless bond yields are reflected in its dynamics. We measure dispersion with entropy and dynamics with horizon dependence, the difference between entropy over several periods and one. We compare their magnitudes to estimates derived from asset returns. This exercise reveals tension between a model's ability to generate one-period entropy, which should be large, and horizon dependence, which should be small.},
  url={https://ideas.repec.org/a/bla/jfinan/v69y2014i1p51-99.html}
}


@article{Hopenhayn_Nicolini_97,
  author = {Hopenhayn, Hugo A and Nicolini, Juan Pablo},
  title = {{Optimal Unemployment Insurance}},
  journal = {Journal of Political Economy},
  year = {1997},
  volume = {105},
  number = {2},
  pages = {412-438},
  month = {April},
  keywords = {},
  doi = {10.1086/262078},
  abstract = {This paper considers the design of an optimal unemployment insurance system. The problem is modeled as a repeated principal-agent problem involving a risk-averse agent--the unemployed worker--and a risk-neutral principal, which cannot montor the agent's search effort. The optimal long-term contract involves a replacement ratio that decreases throughout the unemployment spell and a wage tax after reemployment that, under some mild regularity conditions, increases with the lenght of the unemployment spell. Some numerical results suggest that the gains from switching to this optimal unemployment insurance scheme could be quite large. The performance of this optimal contract is also compared to alternative liquidity provision mechanisms. Copyright 1997 by the University of Chicago.},
  url = {https://ideas.repec.org/a/ucp/jpolec/v105y1997i2p412-38.html}
}

@article{Shavell_Weiss_79,
  author = {Shavell, Steven and Laurence Weiss},
  year = {1979},
  journal = {Journal of political Economy},
  volume = {87},
  number = {6},
  title = {The optimal payment of unemployment insurance benefits over time},
  pages = {1347-1362}
}

@book{Bucklew_2004,
  title = {An Introduction  to Rare Event Simulation},
  author = {James A. Bucklew},
  address = {New York},
  publisher = {Springer Verlag},
  year = {2004}
}

@book{Knight:1921,
 	author = {Knight, Frank H.},
 	date-added = {2020-08-20 10:29:34 -0500},
 	date-modified = {2020-08-20 11:10:35 -0500},
 	keywords = {climate,modeling},
 	publisher = {Houghton Mifflin},
 	title = {{Risk, Uncertainty, and Profit}},
 	year = {1921}
}

@article{MaccheroniMarinacciRustichini:2006b,
 	author = {Maccheroni, Fabio and Marinacci, Massimo and Rustichini, Aldo},
 	date-added = {2021-05-19 08:04:27 -0500},
 	date-modified = {2021-05-19 08:04:27 -0500},
 	journal = {Econometrica},
 	keywords = {*file-import-17-01-11},
 	number = {6},
 	pages = {1147--1498},
 	title = {{Ambiguity Aversion, Robustness, and the Variational Representation of Preferences}},
 	volume = {74},
 	year = {2006}
}

@article{GilboaSchmeidler:1989,
 	author = {Gilboa, Itzhak and Schmeidler, David},
 	date-added = {2020-08-10 09:11:02 -0500},
 	date-modified = {2020-08-10 09:11:02 -0500},
 	journal = {Journal of Mathematical Economics},
 	keywords = {climate,modeling},
 	mendeley-groups = {nsfbib},
 	month = {apr},
 	number = {2},
 	pages = {141--153},
 	title = {{Maxmin Expected Utility with Non-Unique Prior}},
 	volume = {18},
 	year = {1989}
}

@article{AHS_2003,
  author={Evan W. Anderson and Lars Peter Hansen and Thomas J. Sargent},
  title={{A Quartet of Semigroups for Model Specification, Robustness, Prices of Risk, and Model Detection}},
  journal={Journal of the European Economic Association},
  year=2003,
  volume={1},
  number={1},
  pages={68-123},
  month={March},
  keywords={},
  doi={},
  abstract={ A representative agent fears that his model, a continuous time Markov process with jump and diffusion components, is misspecified and therefore uses robust control theory to make decisions. Under the decision maker's approximating model, cautious behavior puts adjustments for model misspecification into market prices for risk factors. We use a statistical theory of detection to quantify how much model misspecification the decision maker should fear, given his historical data record. A semigroup is a collection of objects connected by something like the law of iterated expectations. The law of iterated expectations defines the semigroup for a Markov process, while similar laws define other semigroups. Related semigroups describe (1) an approximating model; (2) a model misspecification adjustment to the continuation value in the decision maker's Bellman equation; (3) asset prices; and (4) the behavior of the model detection statistics that we use to calibrate how much robustness the decision maker prefers. Semigroups 2, 3, and 4 establish a tight link between the market price of uncertainty and a bound on the error in statistically discriminating between an approximating and a worst case model. (JEL: C00, D51, D81, E1, G12) Copyright (c) 2003 The European Economic Association.},
  url={https://ideas.repec.org/a/tpr/jeurec/v1y2003i1p68-123.html}
}

@article{BHS_2009,
  author={Barillas, Francisco and Hansen, Lars Peter and Sargent, Thomas J.},
  title={{Doubts or variability?}},
  journal={Journal of Economic Theory},
  year=2009,
  volume={144},
  number={6},
  pages={2388-2418},
  month={November},
  keywords={ Risk aversion Model misspecification Robustness Market price of risk Equity premium puzzle Risk-fre},
  doi={},
  abstract={Reinterpreting most of the market price of risk as a price of model uncertainty eradicates a link between asset prices and measures of the welfare costs of aggregate fluctuations that was proposed by Hansen, Sargent, and Tallarini [17], Tallarini [30], Alvarez and Jermann [1]. Prices of model uncertainty contain information about the benefits of removing model uncertainty, not the consumption fluctuations that Lucas [22] and [23] studied. A max-min expected utility theory lets us reinterpret Tallarini's risk-aversion parameter as measuring a representative consumer's doubts about the model specification. We use model detection instead of risk-aversion experiments to calibrate that parameter. Plausible values of detection error probabilities give prices of model uncertainty that approach the Hansen and Jagannathan [11] bounds. Fixed detection error probabilities give rise to virtually identical asset prices as well as virtually identical costs of model uncertainty for Tallarini's two models of consumption growth.},
  url={https://ideas.repec.org/a/eee/jetheo/v144y2009i6p2388-2418.html}
}

@article{HST_1999,
  author={Lars Peter Hansen and Thomas J. Sargent and Thomas D. Tallarini},
  title={{Robust Permanent Income and Pricing}},
  journal={Review of Economic Studies},
  year=1999,
  volume={66},
  number={4},
  pages={873-907},
  month={},
  keywords={},
  doi={},
  abstract={\"… I suppose there exists an extremely powerful, and, if I may so speak, malignant being, whose whole endeavours are directed toward deceiving me.\" Rene Descartes, Meditations, II.1},
  url={https://ideas.repec.org/a/oup/restud/v66y1999i4p873-907..html}
}

@Article{Chamberlain_Rothschild,
  author={Chamberlain, Gary and Rothschild, Michael},
  title={{Arbitrage, Factor Structure, and Mean-Variance Analysis on Large Asset Markets}},
  journal={Econometrica},
  year=1983,
  volume={51},
  number={5},
  pages={1281-1304},
  month={September},
  keywords={},
  doi={},
  abstract={We examine the implications of arbitrage in a market with many assets. The absence of arbitrage opportunities implies that the linear functionals that give the mean and cost of a portfolio are continuous; hence there exist unique portfolios that represent these functionals. These portfolios span the mean-variance efficient set. We resolve the question of when a market with many assets permits so much diversification that risk-free investment opportunities are available. Ross 112, 141 showed that if there is a factor structure, then the mean returns are approximately linear functions of factor loadings. We define an approximate factor structure and show that this weaker restriction is sufficient for Ross' result. If the covariance matrix of the asset returns has only K unbounded eigenvalues, then there is an approximate factor structure and it is unique. The corresponding K eigenvectors converge and play the role of factor loadings. Hence only a principal component analysis is needed in empirical work.<br><small>(This abstract was borrowed from another version of this item.)</small>},
  url={https://ideas.repec.org/a/ecm/emetrp/v51y1983i5p1281-304.html}
}

@Article{Ross_78,
  author={Ross, Stephen A},
  title={{A Simple Approach to the Valuation of Risky Streams}},
  journal={The Journal of Business},
  year=1978,
  volume={51},
  number={3},
  pages={453-475},
  month={July},
  keywords={},
  abstract={No abstract is available for this item.},
  url={https://ideas.repec.org/a/ucp/jnlbus/v51y1978i3p453-75.html}
}

@Article{Ross_76,
  author={Ross, Stephen A.},
  title={{The arbitrage theory of capital asset pricing}},
  journal={Journal of Economic Theory},
  year=1976,
  volume={13},
  number={3},
  pages={341-360},
  month={December},
  keywords={},
  doi={},
  abstract={The purpose of this paper is to examine rigorously the arbitrage model of capital asset pricing developed in Ross [13, 14]. The arbitrage model was proposed as an alternative to the mean variance capital asset pricing model, introduced by Sharpe, Lintner, and Treynor, that has become the major analytic tool for explaining phenomena observed in capital markets for risky assets. The principal relation that emerges from the mean variance model holds that for any asset, i, its (ex ante) expected return$E_i = p + \lamdba b_i, \kern+100pt (1)$where ρ is the riskless rate of interest, is the expected excess return on the market, Em − ρ, and$ b_i - \,\sigma _{im}^2 /\sigma _m^2 , $is the beta coefficient on the market, where σm2 is the variance of the market portfolio and $ \sigma _{im}^2 $ is the covariance between the returns on the ith asset and the market portfolio. (If a riskless asset does not exist, ρ is the zero-beta return, i.e., the return on all portfolios uncorrelated with the market portfolio)…<br><small>(This abstract was borrowed from another version of this item.)</small>},
  url={https://ideas.repec.org/a/eee/jetheo/v13y1976i3p341-360.html}
}

@Article{Harrison_Kreps_JET_79,
  author={Harrison, J. Michael and Kreps, David M.},
  title={{Martingales and arbitrage in multiperiod securities markets}},
  journal={Journal of Economic Theory},
  year=1979,
  volume={20},
  number={3},
  pages={381-408},
  month={June},
  keywords={},
  doi={},
  abstract={No abstract is available for this item.},
  url={https://ideas.repec.org/a/eee/jetheo/v20y1979i3p381-408.html}
}
@Article{Kreps_81,
  author={Kreps, David M.},
  title={{Arbitrage and equilibrium in economies with infinitely many commodities}},
  journal={Journal of Mathematical Economics},
  year=1981,
  volume={8},
  number={1},
  pages={15-35},
  month={March},
  keywords={},
  doi={},
  abstract={No abstract is available for this item.},
  url={https://ideas.repec.org/a/eee/mateco/v8y1981i1p15-35.html}
}

@book{Cochrane_2005,
 author = {John H. Cochrane},
 title = {Asset Pricing: revised edition},
 publisher = {Princeton University Press},
 address = {Princeton, New Jersey},
 year = {2005},
 }

@Article{Hansen_Jagannathan_1991,
  author={Hansen, Lars Peter and Jagannathan, Ravi},
  title={{Implications of Security Market Data for Models of Dynamic Economies}},
  journal={Journal of Political Economy},
  year=1991,
  volume={99},
  number={2},
  pages={225-262},
  month={April},
  keywords={},
  doi={10.1086/261749},
  abstract={ The authors show how to use security market data to restrict the admissible region for means and standard deviations of intertemporal marginal rates of substitution of consumers. Their approach (1) is nonparametric and applies to a rich class of models of dynamic economics; (2) characterizes the duality between the mean-standard deviation frontier for intertemporal marginal rates of substitution and the familiar mean-standard deviation frontier for asset returns; and (3) exploits the restriction that intertemporal marginal rates of substitution are positive random variables. The region provides a convenient summary of the sense in which asset market data are anomalous from the vantage point of intertemporal asset pricing theory. Copyright 1991 by University of Chicago Press.},
  url={https://ideas.repec.org/a/ucp/jpolec/v99y1991i2p225-62.html}
}

@Article{lucas75,
  author ={Robert E. Lucas, Jr.},
  title ={An Equilibrium Model of the Business Cycle},
  journal ={Journal of Political Economy},
  volume ={83},
  pages ={1113-1144},
  year =1975
}

@Article{Pearlman_Sargent2005,
  author={Joseph G. Pearlman and Thomas J. Sargent},
  title={{Knowing the Forecasts of Others}},
  journal={Review of Economic Dynamics},
  year=2005,
  volume={8},
  number={2},
  pages={480-497},
  month={April},
  keywords={Forecasting the forecasts of others; higher order beliefs; pooling equilibrium; recursive methods; K},
  doi={10.1016/j.red.2004.10.011},
  abstract={We apply recursive methods to obtain a finite dimensional and recursive representation of an equilibrium of one of Townsend's models of 'forecasting the forecasts of others'. The equilibrium has the property that decision makers make common forecasts of the hidden state variable whose presence motivates them to pay attention to prices in other markets. Thus, the model has too few sources of randomness to put decision makers into a situation where they should form 'higher order beliefs' (i.e., beliefs about others' beliefs). In Townsend's model, they know the beliefs of others because they share them. We attain our finite-dimensional recursive representation by applying methods of Pearlman, Currie, and Levine (1986). (Copyright: Elsevier)},
  url={https://ideas.repec.org/a/red/issued/v8y2005i2p480-497.html}
}

 
@Article{PCL,
  author ={Joseph Pearlman and David Currie and Paul Levine},
  title ={{Rational Expectations Models with Private Information}},
  journal ={Economic Modelling},
  volume =3,
  number=2,
  pages ={90--105},
  year =1986
}


@Article{kasa,
  author ={Kenneth Kasa},
  title ={Forecasting the Forecasts of Others in the Frequency Domain},
  journal ={Review of Economic Dynamics},
  volume ={3},
  pages ={726--756},
  year =2000
}


@Article{townsend,
  author  ={Robert M. Townsend},
  title ={Forecasting the Forecasts of Others},
  journal ={Journal of Political Economy},
  volume ={91},
  pages ={546--588},
  year =1983
}

@Article{sargent91_equilibrium,
  author ={Thomas J. Sargent},
  title ={Equilibrium with Signal Extraction from Endogenous Variables},
  journal ={Journal of Economic Dynamics and Control},
  volume ={15},
  pages ={245--273},
  year =1991
}

@Inproceedings{singleton87,
  author ={Kenneth J. Singleton},
  title ={Asset Prices in a Time-Series Model with Disparately Informed
  Competitive Traders},
  editor ={William A. Barnett and Kenneth J. Singleton},
  booktitle ={New Apprroaches to Monetary Economics},
  publisher ={Cambridge University Press},
  year = 1987
}


@Article{ams,
  author= {Franklin Allen and Stephen Morris and Hyun Song Shin},
  title= {Beauty Contests, Bubbles, and Iterated Expectations in Asset
      Markets},
  journal ={mimeo},
  year=2002
}

@techreport{BCG_2018,
  author      = {Bisin, Alberto and Gian Luca Clementi and Piero Gottardi},
  title       = {Capital and Hedging Demand with Incomplete Markets},
  institution = {NYU and EUI},
  year        = {2018}
}

@article{Modigliani_Miller_1958,
  author          = {Franco Modigliani and Merton H. Miller},
  title           = {Corporation Finance and the Theory of Investment},
  journal         = {American Economic Review},
  volume          = {XLVIII},
  number          = {3},
  year            = {1958},
  pages           = {261-297}
}

@article{definetti,
  Author = {Bruno de Finetti},
  Date-Added = {2014-12-26 17:45:57 +0000},
  Date-Modified = {2014-12-26 17:45:57 +0000},
  Journal = {Annales de l'Institute Henri Poincare'},
  Note = {English translation in Kyburg and Smokler (eds.), {\it Studies in Subjective Probability}, Wiley, New York, 1964},
  Pages = {1 - 68},
  Title = {La Prevision: Ses Lois Logiques, Ses Sources Subjectives},
  Volume = {7},
  Year = {1937}
}

@book{Holt_Modigliani_Muth_Simon,
  title = {Planning Production, Inventories, and Work Force},
  author = {Charles Holt and Franco  Modigliani and John F. Muth and Herbert Simon},
  publisher = {Prentice-Hall International Series in Management},
  address = {New Jersey},
  year = {1960}
}

@Article{Leeper_Walker_Yang,
  author={Eric M. Leeper and Todd B. Walker and Shu‐Chun Susan Yang},
  title={Fiscal Foresight and Information Flows},
  journal={Econometrica},
  year=2013,
  volume={81},
  number={3},
  pages={1115-1145},
  month={May},
}

@article{stachurski2008continuous,
  title={Continuous state dynamic programming via nonexpansive approximation},
  author={Stachurski, John},
  journal={Computational Economics},
  volume={31},
  number={2},
  pages={141--160},
  year={2008},
  publisher={Springer}
}

@incollection{gordon1995stable,
  title={Stable function approximation in dynamic programming},
  author={Gordon, Geoffrey J},
  booktitle={Machine Learning Proceedings 1995},
  pages={261--268},
  year={1995},
  publisher={Elsevier}
}

@article{caplin1985variability,
  title={The variability of aggregate demand with (S, s) inventory
  policies},
  author={Caplin, Andrew S},
  journal={Econometrica},
  pages={1395--1409},
  year={1985},
  publisher={JSTOR}
}

@techreport{kondo2018us,
  title={On the US Firm and Establishment Size Distributions},
  author={Kondo, Illenin and Lewis, Logan T and Stella, Andrea},
  year={2018},
  institution={SSRN}
}

@article{schluter2019size,
  title={Size distributions reconsidered},
  author={Schluter, Christian and Trede, Mark},
  journal={Econometric Reviews},
  volume={38},
  number={6},
  pages={695--710},
  year={2019},
  publisher={Taylor \& Francis}
}

@article{fujiwara2004pareto,
  title={Do Pareto--Zipf and Gibrat laws hold true? An analysis with
  European firms},
  author={Fujiwara, Yoshi and Di Guilmi, Corrado and Aoyama, Hideaki and
  Gallegati, Mauro and Souma, Wataru},
  journal={Physica A: Statistical Mechanics and its Applications},
  volume={335},
  number={1-2},
  pages={197--216},
  year={2004},
  publisher={Elsevier}
}

@article{dunne1989growth,
  title={The growth and failure of US manufacturing plants},
  author={Dunne, Timothy and Roberts, Mark J and Samuelson, Larry},
  journal={The Quarterly Journal of Economics},
  volume={104},
  number={4},
  pages={671--698},
  year={1989},
  publisher={MIT Press}
}

@article{hall1987relationship,
  title={The Relationship Between Firm Size and Firm Growth in the US
  Manufacturing Sector},
  author={Hall, Bronwyn H},
  journal={The Journal of Industrial Economics},
  pages={583--606},
  year={1987},
  publisher={JSTOR}
}

@article{evans1987relationship,
  title={The relationship between firm growth, size, and age: Estimates for 100 manufacturing industries},
  author={Evans, David S},
  journal={The Journal of Industrial Economics},
  pages={567--581},
  year={1987},
  publisher={JSTOR}
}

@phdthesis{gibrat1931inegalites,
  title={Les in{\'e}galit{\'e}s {\'e}conomiques: Applications d'une loi
          nouvelle, la loi de l'effet proportionnel},
  author={Gibrat, Robert},
  year={1931},
  school={Recueil Sirey}
}

@book{buraczewski2016stochastic,
  title={Stochastic models with power-law tails},
  author={Buraczewski, Dariusz and Damek, Ewa and Mikosch, Thomas and others},
  year={2016},
  publisher={Springer}
}

@inproceedings{nishiyama2004estimation,
  title={Estimation and testing for rank size rule regression under pareto
  distribution},
  author={Nishiyama, Y and Osada, S and Morimune, K},
  booktitle={Proceedings of the International Environmental Modelling
  and Software Society iEMSs 2004 International Conference},
  year={2004},
  organization={Citeseer}
}

@article{ahn2018inequality,
  author    = {Ahn, SeHyoun and Kaplan, Greg and Moll, Benjamin and Winberry, Thomas and Wolf, Christian},
  title     = {When Inequality Matters for Macro and Macro Matters for Inequality},
  journal   = {NBER Macroeconomics Annual},
  year      = {2018},
  volume    = {32},
  number    = {1},
  pages     = {1--75},
  publisher = {University of Chicago Press},
}

@techreport{bhandari2018inequality,
  title={Inequality, Business Cycles, and Monetary-Fiscal Policy},
  author={Bhandari, Anmol and Evans, David and Golosov, Mikhail and Sargent, Thomas J},
  year={2018},
  institution={National Bureau of Economic Research}
}

@Article{glaeser2003injustice,
  author    = {Glaeser, Edward and Scheinkman, Jose and Shleifer, Andrei},
  title     = {The Injustice of Inequality},
  journal   = {Journal of Monetary Economics},
  year      = {2003},
  volume    = {50},
  number    = {1},
  pages     = {199--222},
  publisher = {Elsevier},
}

@article{acemoglu2002political,
  author    = {Acemoglu, Daron and Robinson, James A.},
  title     = {The Political Economy of the {K}uznets curve},
  journal   = {Review of Development Economics},
  year      = {2002},
  volume    = {6},
  number    = {2},
  pages     = {183--203},
  publisher = {Wiley Online Library},
}

@article{rozenfeld2011area,
  title={The area and population of cities: New insights from a different
  perspective on cities},
  author={Rozenfeld, Hern{\'a}n D and Rybski, Diego and Gabaix, Xavier and
  Makse, Hern{\'a}n A},
  journal={American Economic Review},
  volume={101},
  number={5},
  pages={2205--25},
  year={2011}
}

@book{rachev2003handbook,
  title={Handbook of heavy tailed distributions in finance: Handbooks in
  finance},
  author={Rachev, Svetlozar Todorov},
  volume={1},
  year={2003},
  publisher={Elsevier}
}

@article{mandelbrot1963variation,
  title={The variation of certain speculative prices},
  author={Mandelbrot, Benoit},
  journal={The Journal of Business},
  volume={36},
  number={4},
  pages={394--419},
  year={1963}
}

@article{gabaix2016power,
  title={Power laws in economics: An introduction},
  author={Gabaix, Xavier},
  journal={Journal of Economic Perspectives},
  volume={30},
  number={1},
  pages={185--206},
  year={2016}
}

@article{axtell2001zipf,
  title={Zipf distribution of US firm sizes},
  author={Axtell, Robert L},
  journal={science},
  volume={293},
  number={5536},
  pages={1818--1820},
  year={2001},
  publisher={American Association for the Advancement of
  Science}
}

@article{benhabib2018skewed,
  title={Skewed wealth distributions: Theory and empirics},
  author={Benhabib, Jess and Bisin, Alberto},
  journal={Journal of Economic Literature},
  volume={56},
  number={4},
  pages={1261--91},
  year={2018}
}

@article{pareto1896cours,
  title={Cours d’{\'e}conomie politique},
  author={Vilfredo, Pareto},
  journal={Rouge, Lausanne},
  volume={2},
  year={1896}
}

@article{attanasio2011risk,
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@article{bansal2004risks,
  title={Risks for the long run: A potential resolution of asset pricing puzzles},
  author={Bansal, Ravi and Yaron, Amir},
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  number={4},
  pages={1481--1509},
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@Article{Bansal_Yaron_2004,
  author={Ravi Bansal and Amir Yaron},
  title={{Risks for the Long Run: A Potential Resolution of Asset Pricing Puzzles}},
  journal={Journal of Finance},
  year=2004,
  volume={59},
  number={4},
  pages={1481-1509},
  month={08},
  keywords={},
  doi={},
  abstract={ We model consumption and dividend growth rates as containing (1) a small long-run predictable component, and (2) fluctuating economic uncertainty (consumption volatility). These dynamics, for which we provide empirical support, in conjunction with Epstein and Zin's (1989) preferences, can explain key asset markets phenomena. In our economy, financial markets dislike economic uncertainty and better long-run growth prospects raise equity prices. The model can justify the equity premium, the risk-free rate, and the volatility of the market return, risk-free rate, and the price-dividend ratio. As in the data, dividend yields predict returns and the volatility of returns is time-varying. Copyright 2004 by The American Finance Association.},
  url={https://ideas.repec.org/a/bla/jfinan/v59y2004i4p1481-1509.html}
}

@article{hansen2008consumption,
  title={Consumption strikes back? Measuring long-run risk},
  author={Hansen, Lars Peter and Heaton, John C and Li, Nan},
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  number={2},
  pages={260--302},
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@Article{HHL_2008,
  author={Lars Peter Hansen and John C. Heaton and Nan Li},
  title={{Consumption Strikes Back? Measuring Long-Run Risk}},
  journal={Journal of Political Economy},
  year=2008,
  volume={116},
  number={2},
  pages={260-302},
  month={04},
  keywords={},
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  abstract={ We characterize and measure a long-term risk-return trade-off for the valuation of cash flows exposed to fluctuations in macroeconomic growth. This trade-off features risk prices of cash flows that are realized far into the future but continue to be reflected in asset values. We apply this analysis to claims on aggregate cash flows and to cash flows from value and growth portfolios by imputing values to the long-run dynamic responses of cash flows to macroeconomic shocks. We explore the sensitivity of our results to features of the economic valuation model and of the model cash flow dynamics. (c) 2008 by The University of Chicago. All rights reserved.},
  url={https://ideas.repec.org/a/ucp/jpolec/v116y2008i2p260-302.html}
}

@article{hansen2007beliefs,
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  author={Hansen, Lars Peter},
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@Article{Hansen_2007,
  author={Lars Peter Hansen},
  title={{Beliefs, Doubts and Learning: Valuing Macroeconomic Risk}},
  journal={American Economic Review},
  year=2007,
  volume={97},
  number={2},
  pages={1-30},
  month={May},
  keywords={},
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  abstract={No abstract is available for this item.},
  url={https://ideas.repec.org/a/aea/aecrev/v97y2007i2p1-30.html}
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  title={{Macroeconomic Priorities}},
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  url={https://www.aeaweb.org/articles?id=10.1257/000282803321455133}
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@techreport{giannoni2010optimal,
  title={Optimal target criteria for stabilization policy},
  author={Giannoni, Marc P and Woodford, Michael},
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  institution={National Bureau of Economic Research}
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  pages={124--137},
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  publisher={JSTOR}
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@article{pearlman1986rational,
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  title={The consistency of optimal policy in stochastic rational expectations models},
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@article{ryan2012costs,
  title={The costs of environmental regulation in a concentrated industry},
  author={Ryan, Stephen P},
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  number={3},
  pages={1019--1061},
  year={2012},
  publisher={Wiley Online Library}
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@article{doraszelski2010computable,
  title={Computable Markov-perfect industry dynamics},
  author={Doraszelski, Ulrich and Satterthwaite, Mark},
  journal={The RAND Journal of Economics},
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  number={2},
  pages={215--243},
  year={2010},
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@article{levhari1980great,
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@Article{BEGS1,
  author={Anmol Bhandari and David Evans and Mikhail Golosov and Thomas J. Sargent},
  title={{Fiscal Policy and Debt Management with Incomplete Markets}},
  journal={The Quarterly Journal of Economics},
  year=2017,
  volume={132},
  number={2},
  pages={617-663},
  month={}}

@article{van2011dynamic,
  title={Dynamic games in the economics of natural resources: a survey},
  author={Van Long, Ngo},
  journal={Dynamic Games and Applications},
  volume={1},
  number={1},
  pages={115--148},
  year={2011},
  publisher={Springer}
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@techreport{bhandari2013taxes,
  title={Taxes, debts, and redistributions with aggregate shocks},
  author={Bhandari, Anmol and Evans, David and Golosov, Mikhail and
      Sargent, Thomas J},
  year={2013},
  institution={National Bureau of Economic Research}
}

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@unpublished{Hans_Sarg_book,
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