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We outline in turn criticisms made by econometricians of the methods used in empirical business-cycle research and then criticisms made by business-cycle researchers of some methods used by econometricians. The aim is to clarify and in some cases correct these criticisms. Overall there is no...
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I introduce risk-averse preferences, labor-leisure choice, capital, individual productivity shocks, and market … supply. Third, the borrowing constraint or uninsured individual productivity shocks do not significantly affect the cyclical …
Persistent link: https://www.econbiz.de/10012706178
This paper examines the behavior of remittances over the business cycle and their potential to act as a stabilizer during periods of high business cycle volatility. Four main findings are reported. First, in theory, the cyclical behavior of remittances depends on the motives to remit. Second,...
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We present an analytically tractable general equilibrium business cycle model that features micro-level investment lumpiness. We prove an exact irrelevance proposition which provides sufficient conditions on preferences, technology, and the fixed cost distribution such that any positive upper...
Persistent link: https://www.econbiz.de/10013160440
The author introduces risk-averse preferences, labor-leisure choice, capital, individual productivity shocks, and … supply. Third, the borrowing constraint or uninsured individual productivity shocks do not significantly affect the cyclical …
Persistent link: https://www.econbiz.de/10013139259
This paper examines the effects of expansionary technology shocks (shocks that increase labor productivity and factor … inputs) as opposed to contractionary technology shocks (shocks that increase labor productivity, but decrease factor inputs … productivity and production inputs. In addition, these shocks trigger different reactions of certain variables, which can help …
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