We prove the generality of the methodology proposed in Benigno and Woodford (2006). We show that, even in the presence of a distorted steady state, it is always possible and relatively simple to obtain a purely quadratic approximation to the welfare measure. We also show that, in order to do so, the timeless perspective assumption is crucial. JEL classification: C61, C63

In this study Response Surface Methodology was used to optimize process conditions and to evaluate the effect of ultrasound on quality attributes (antioxidant activity, pH, total soluble solid, turbidity) and the inactivation of Escherichia coli bacteria in carrot juice. Independent variables in this study were temperature (25-50°C), time (20-40 min) and frequency (0-130 kHz). In this study the...