The American Economic Review, Volume 97American Economic Association., 2007 |
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... higher . For a given level of TFP in the investment sector , a higher marginal product of capital requires a lower capital - labor ratio and therefore a lower nominal investment rate . The tax rate on capital income does not affect ...
... higher . For a given level of TFP in the investment sector , a higher marginal product of capital requires a lower capital - labor ratio and therefore a lower nominal investment rate . The tax rate on capital income does not affect ...
Página 800
... higher school quality coefficient in the utility function ( a ) implies higher educa- tional spending and lower housing prices , and a higher coefficient on consumption ( B ) implies higher household consumption and lower hous- ing ...
... higher school quality coefficient in the utility function ( a ) implies higher educa- tional spending and lower housing prices , and a higher coefficient on consumption ( B ) implies higher household consumption and lower hous- ing ...
Página 927
... higher invest- ment level rather than x < xe . This makes the choice of a more advanced technology more profitable . A higher N , in turn , increases the profitability of further investments in x and x . Better contracting institutions ...
... higher invest- ment level rather than x < xe . This makes the choice of a more advanced technology more profitable . A higher N , in turn , increases the profitability of further investments in x and x . Better contracting institutions ...
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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