Galí, Jordi (contributor); Vallés, Javier (contributor); … - 2003
shocks on consumption cannot be
easily reconciled with existing optimizing business cycle models. We extend the standard … also found in Fatas and Mihov (2001) when measured as compensation per
hour in the non-farm business sector.
Finally, the … are consistent with the exiting evidence and/or which conventionally assumed
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in the business cycle literature. Thus …