We prove the generality of the methodology proposed in Benigno and Woodford (2006). We show that, even in the presence of a distorted steady state, it is always possible and relatively simple to obtain a purely quadratic approximation to the welfare measure. We also show that, in order to do so,...

This paper proposes and applies a combined stated preference approach in order to estimate residential location choice behaviour in Oxfordshire, UK. The estimation results demonstrate the potentials for the combined estimation of two stated preference experiments. Our findings show that the...