McGrattan, Ellen R. (contributor); … - 2007 - rev.
. Fogli
and Perri (2006) estimate the impact of lower U.S. business cycle volatility on the U.S. trade bal-
ance due to lower … in i, Ni is the total population in i, Li is
the labor input in the business sector, ¯Lnb,i is the labor input in the … expenditures and ¯Xnb includes all non-
business investment expenditures of households, nonprofit institutions, and governments …