Consumption heterogeneity, employment dynamics and macroeconomic co-movement
نویسندگان
چکیده
منابع مشابه
Consumption heterogeneity, employment dynamics and macroeconomic co-movement ¬リニ
Real-business-cycle models rely on total factor productivity (TFP) shocks to explain the observed co-movement between consumption, investment and hours. However an emerging body of evidence identifies “investment shocks”as important drivers of business cycles. This paper shows that a neoclassical model consistent with observed heterogeneity in labor supply and consumption across employed and no...
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ژورنال
عنوان ژورنال: Journal of Monetary Economics
سال: 2015
ISSN: 0304-3932
DOI: 10.1016/j.jmoneco.2014.08.002