models, emphasizing two discrepancies between theory and data that we refer to as anomalies. The first is the consumption/output/productivity … analogous consumption and productivity correlations. In theoretical economies we find, for a wide range of parameter values …, that the consumption correlation exceeds the productivity and output correlations. The second anomaly concerns relative …

models, emphasizing two discrepancies between theory and data that we refer to as anomalies. The first is the consumption/output/productivity … analogous consumption and productivity correlations. In theoretical economies we find, for a wide range of parameter values …, that the consumption correlation exceeds the productivity and output correlations. The second anomaly concerns relative …

data. We show that a productivity simulation is capable of explaining initial real appreciation with subsequent …