Georgarakos, Dimitris; Kim, Kwang Hwan; Coibion, Olivier; … - 2025
eliminate business cycles. These direct estimates are much higher than traditional measures following Lucas (2003): on average …, households would be prepared to sacrifice around 5-6% of their lifetime consumption to eliminate business cycle fluctuations. A … 5% of their consumption. Willingness to pay to eliminate business cycles and inflation is generally higher for those …