Economic Fluctuations in a Labor Market with Heterogeneous Agents
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چکیده
منابع مشابه
Discussion of “ Business Cycle and the Life Cycle ”
It has been well known for at least the past two decades that the standard neo-classical growth model, notwithstanding its surprising success in explaining many aggregate phenomena, performs poorly when it comes to explaining business cycle fluctuations in the labor market. The work of Gomme, Rogerson, Rupert, and Wright (henceforth GRRW) builds on the premise that the understanding of labor ma...
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