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Figure A1 (continuation). Prior and posterior distributions

Persistence Inv Tech Shock(H)

Persistence Preference shock (F)

Persistence Inv Technology shock(F)

15

10

5

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10

5

10 8 6 4 2

0

0

0

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Persistence Border Enforcement Shock

150

100

50

0 0.4

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0.9

1

Note: Benchmark Model. Results based on 500,000 draws of the Metropolis algorithm. Gray line: prior. Black line: posterior. Vertical dashed line: posterior mode (from the numerical optimization of the posterior kernel).

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