To duplicate the results in the paper, do the following.

1.  Unzip MC.ZIP, US.ZIP, FP.ZIP.  Put all these files in the same folder. 
    Do all of the following in Command Prompt in the folder you have chosen.

2.  For Table 6, experiment 1), type FP>OUT1<INMC1.  The output will be in OUT1,
    which should be the same as the supplied ZOUT1.  

3.  For Table 6, experiment 2), type FP>OUT2<INMC2.  The output will be in OUT2,
    which should be the same as the supplied ZOUT2.  

4.  For Table 6, experiment 3), type FP>OUT3<INMC3.  The output will be in OUT3,
    which should be the same as the supplied ZOUT3.  

5.  For Table 6, experiment 4), type FP>OUT4<INMC4.  The output will be in OUT4,
    which should be the same as the supplied ZOUT4.  

6.  For the first experiment in Table 7 (AA1 and AA2 changed), type 
    FP>OUT5<INMC5.  The output will be in OUT5, which should be the same 
    as the supplied ZOUT5.

7.  For the second experiment in Table 7 (AA1, AA2, and EBP changed), type 
    FP>OUT6<INMC6.  The output will be in OUT6, which should be the same 
    as the supplied ZOUT6.

8.  For the standard errors for experiment 1) in Table 6, type 
    FP>OUT7<INMC7.  The output will be in OUT7, which should be the same 
    as the supplied ZOUT7.  Warning: the job took about 6 hours on a 
    fairly fast computer.  

9.  For the estimates in Tables 2-5 and for the other estimates reported in
    the paper, type FP>OUTU1<INUS1.  The output will be 
    in OUTU1, which should be the same as the supplied ZOUTU1.  

10. For the size of the wealth effect and the estimated shocks, 
    type FP>OUTU2<INUS2.  The output will be 
    in OUTU2, which should be the same as the supplied ZOUTU2.  

     If you know how to use the FP program, you can run other experiments and 
do other estimation.  The FP manual is suppled as FP.PDF.  


