¹The Econ-ARK toolkit with which the model was solved can construct the Jacobians necessary to connect a steady-state version of the model to the SSJ Toolkit, permitting a full-fledged NK block. However, we have chosen a partial equilibrium framework in our in our primary analysis because such a framework allows for a non-linear multiplier. Furthermore, the HANK and SAM model incorporates many other confounding and confusing elements that do more to obscure than to illuminate our points.