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and $\{Z_t\}$ is IID and standard normal.

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While we already considered continuous wage distributions briefly in Exercise {ref}`mm_ex2` of the {doc}`first job search lecture <mccall_model>`, the change was relatively trivial in that case.

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While we already considered continuous wage distributions briefly in {doc}`mccall_model`, the change was relatively trivial in that case.

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The reason is that we were able to reduce the problem to solving for a single scalar value (the continuation value).

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Read the original on github.com ↗