⁶The literature on in heterogeneous-agents macroeconomic models includes, among many others, Carroll (1992), Aiyagari (1994), and Krusell and Smith (1998), with roots that go back to Schechtman and Escudero (1977) and Bewley (1977), with other important contributions by Clarida (1987), Zeldes (1989), and Chamberlain and Wilson (2000).