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Asymmetric Information and Employment Fluctuations

Bruegemann, Bjoern; Moscarini, Giuseppe - Society for Economic Dynamics - SED - 2006

Shimer (2005) showed that a standard search and matching model of the labor market fails to generate fluctuations of … unemployment and vacancies of the magnitude observed in US data in response to shocks to average labor productivity of plausible … response of unemployment and vacancies to a shock to average labor productivity. In light of these properties, cast in terms of …

Persistent link: https://www.econbiz.de/10005069277

Monetary Policy, Taxes, and the Business Cycle

Pakko, Michael R.; Gavin, William T.; Kydland, Finn E. - Society for Economic Dynamics - SED - 2005

Persistent link: https://www.econbiz.de/10005051394

The Granular Origins of Aggregate Fluctuations

Gabaix, Xavier - Society for Economic Dynamics - SED - 2005

Persistent link: https://www.econbiz.de/10005051395

Welfare Costs, Long Run Consumption Risk, and a Production Economy.

Croce, Mariano M. - Society for Economic Dynamics - SED - 2006

The main goal of this paper is to measure the welfare costs of business cycles in a production economy in which the representative agent has low risk aversion and - at the same time - the equity premium and the co-movements of aggregate quantities and market returns are comparable to what...

Persistent link: https://www.econbiz.de/10005069327

Business Cycles under Generalized Disappointment Aversion

Campanale, Claudio; Castro, Rui; Clementi, Gian Luca - Society for Economic Dynamics - SED - 2006

Standard business cycle models with state-additive preferences, while broadly consistent with the behavior of real macroeconomic aggregates, are unable to generate asymmetries between expansions and recessions, and are also inconsistent with the behavior of asset prices. In this paper we exploit...

Persistent link: https://www.econbiz.de/10005069351