original link is dead (which could be the result of its sudden popularity on HN -- their entire server is quite slow for other content as well)... archive.org

original link is dead (which could be the result of its sudden popularity on HN -- their entire server is quite slow for other content as well)... archive.org has a mirror copy of this document, https://web.archive.org/web/20180105120132/https://www.frbsf.org/economic-research/files/wp2017-25.pdf https://web.archive.org/web/20180105120132/https://www.frbsf...