Years and Dollars: replication files
Damon Kirk and Steven Farrar, The Understanding Company, Detroit, Michigan. Version 2.1, October 2, 2026.

This package is licensed in two parts.

1. Code: every file in build/ is licensed under the MIT License below.
2. Text and data we created: README.md, the paper, and the extracts, tabulations, and model outputs in data/ are
   licensed under the Creative Commons Attribution 4.0 International License (CC BY 4.0),
   https://creativecommons.org/licenses/by/4.0/legalcode. You may share and adapt them for any purpose, provided
   you give appropriate credit, link to the license, and indicate if changes were made.

Files obtained from other producers (listed in README.md with their sources) keep their producers' terms. U.S.
federal statistical data are public. data/backcast/market-returns.csv reproduces Aswath Damodaran's public table of
historical returns; cite him as its source.

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MIT License

Copyright (c) 2026 Damon Kirk, Steven Farrar, and The Understanding Company

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