What Prevents a Real Business Cycle Model from Matching the U.S. Data? : Decomposing the Labor Wedge /
I carry out a business cycle accounting exercise (Chari, Kehoe and McGrattan, 2007) on the U.S. data measured in wage units (Farmer (2010)) for the entire postwar period. In contrast to a conventional approach, this approach preserves common medium-term business cycle fluctuations in GDP, its compon...
| Κύριος συγγραφέας: | |
|---|---|
| Μορφή: | Επιστημονικό περιοδικό |
| Γλώσσα: | English |
| Έκδοση: |
Washington, D.C. :
International Monetary Fund,
2017.
|
| Σειρά: | IMF Working Papers; Working Paper ;
No. 2017/201 |
| Διαθέσιμο Online: | Full text available on IMF |