^{14}We have also considered a model in which the CEA equation contains an intercept,
h(CEA_{t}) = _{h} + 𝜃_{CEA}CEA_{t}. In that model _{h} is estimated to be insigniﬁcant and close to 0. But, as we
discuss below, even our reduced model is close to being linear; adding a constant to a nearly linear model only
confuses matters. Theoretical considerations suggest that if one of the two linear coeﬃcients should be
excluded, it is probably the one for the CEA equation, so we made that choice. Our substantive conclusions are
robust to this choice.