Before revision:  We apply the methodology to the model of long run risks in aggregate consumption (Bansal and Yaron, 2004), where the auxiliary model is generated using the Campbell and Shiller (1988) approximation.
After revision:  We apply the methodology to the model of long run risks in aggregate consumption (Bansal and Yaron, 2004), where the complete model is generated using the Campbell and Shiller (1988) approximation.