Is Theory Really Ahead of Measurement? Current Real Business Cycle Theories and Aggregate Labor Market Fluctuations
收藏NBER1988-09-01 更新2025-01-04 收录
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https://www.nber.org/papers/w2700
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In the l93Os, Dunlop and Tarshis observed that the correlation between hours and wages is close to zero. This classic observation has become a litmus test by which macroeconomic models are judged. Existing real business cycle models fail this test dramatically. Based on this result, we argue that
提供机构：
美国国家经济研究局
创建时间：
1988-09-01
