Francis, Neville (contributor); … - 2003 - [Elektronische Ressource], rev
thought of
as the unexplainable component of the business cycle that is manifested as a change in
the overall productive … to examine the response of labor hours to these
shocks. Contrary to standard real business cycle (RBC) theory, recent … hours and
productivity across the business cycle; specifically, hours fall, at least in the short-run,
when hit with a …