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Òscar Jordà (SF Fed)
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the input-output linkage amplification of shock: does it apply generally to any shocks, or anything specific to climate damage?
Ivan, could you remind us what you assume about the substitutability of consumption and amenities in utility and could you comment on how that affects your results for amenities?
Hi Toan, thank you for your question! the input-output linkages apply generally, amplifying any shock
Hi Simon, Just to follow up on your question: we effectively model amenities and consumption as multiplicatively separable, consistent with assumptions in the economic geography literature.