Variable Effort, Business Cycles, and Economic Welfare
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DOI: 10.1016/j.econlet.2020.109544
Abstract: Abstract Recent literature has shown that productivity-driven business cycles are beneficial to consumers in the context of market clearing real business cycle model. In this paper, we argue that this notion of welfare-improving business cycles… read more here.
Keywords: business cycles; variable effort; business; effort business ... See more keywords