to elucidate the source of the bias. Our expression highlights the interdependence between coefficients of LPs at … different horizons. As a byproduct, we propose a way to bias-correct LPs. Using U.S. macroeconomic data and identified monetary … policy shocks, we demonstrate that the bias correction can be large …

and policy-makers face in large projects. Following the FOX process and building on behavioral decision theory, we review …