Learning, Confidence, and Business Cycles
收藏NBER2016-12-01 更新2025-01-04 收录
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https://www.nber.org/papers/w22958
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资源简介：
We build a tractable heterogeneous-firm business cycle model where firms face Knightian uncertainty about their profitability and learn it through production. The cross-sectional mean of firm-level uncertainty is high in recessions because firms invest and hire less. The higher uncertainty reduces
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美国国家经济研究局创建时间：
2016-12-01
