Edge, Rochelle M. (contributor); Laubach, Thomas (contributor) - 2004 - [Elektronische Ressource]
business cycle model a highly persistent reduction
in the productivity growth rate yielded the \perverse" response of a rise in …-sector neoclassical growth model with endogenous labor supply. In this
section, we describe a standard real business cycle model and the … line in Figure 1 shows the annual growth rate of labor
productivity (output per hour) in the nonfarm business sector for …