The American Economic Review, Volume 97American Economic Association., 2007 |
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... countercyclical along the optimal path , i.e. , Ro > R1 . 10 All propositions relate to interior solutions where R & D is always positive . An earlier version of this paper dealt with corner cases . One can typically guarantee an ...
... countercyclical along the optimal path , i.e. , Ro > R1 . 10 All propositions relate to interior solutions where R & D is always positive . An earlier version of this paper dealt with corner cases . One can typically guarantee an ...
Página 1150
... countercyclical , i.e. , Ro ( k ) > R1 ( k ) for all limiting values of k . This suggests the procyclical bias in R & D must be large at empirically plausible parameter values , enough to turn R & D procyclical all by itself in an ...
... countercyclical , i.e. , Ro ( k ) > R1 ( k ) for all limiting values of k . This suggests the procyclical bias in R & D must be large at empirically plausible parameter values , enough to turn R & D procyclical all by itself in an ...
Página 1183
... countercyclical inventory - to - sales ratio . This happens because the trade - off between inventory accumulation and intermediate goods use slows the rise in the aggregate stock fol- lowing a rise in productivity . While the largest ...
... countercyclical inventory - to - sales ratio . This happens because the trade - off between inventory accumulation and intermediate goods use slows the rise in the aggregate stock fol- lowing a rise in productivity . While the largest ...
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EDMUND S PHELPS | 541 |
O 2 0 2007 | 713 |
ALMA COHEN AND LIRAN EINAV | 745 |
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agents aggregate American Economic Review analysis assets assume assumption average behavior benchmark Beveridge curve business cycles candidates capital changes choice coefficient cointegration consumer consumption contracts correlation cost of business countercyclical deductible degree distributions distribution durables effect empirical equation equilibrium estimated exchange expected Figure firms function given growth HIP model households implies impulse responses income increase individuals inflation inventory investment investment rate Journal of Economics labor market loss aversion marginal likelihood matching Matthew Rabin ment Michael Woodford monetary policy nodes nomic observed optimal output pairs paper parameters patients percent policy shock post.com preferences procyclical production Proposition random regime relative response risk aversion sample Section sector Shapley value side payments simulations sticky prices stochastic Table theory tion tradable unemployment utility variables variance volatility vouchers wage workers Yangzi Delta