Gomes, Fábio Augusto Reis; Nascimento, Leandro … - Associação dos Centros de Pós-Graduação em … - 2004
How large are welfare costs associated with economic aggregate fluctuations is a topic of great concern among economists at least since Robert Lucas' well-known and thought-provoking exercise in the late 1980s. Our analysis assesses the magnitude of such costs for nine countries in South America...