A Tractable Income Process for Business Cycle Analysis
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We estimate an income process that is consistent with key facts on individual income risk and its variation over the business cycle. In particular, the estimated process generates income fluctuations that display (i) flat and acyclical variance, (ii) volatile and procyclical skewness, (iii) very
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美国国家经济研究局创建时间：
2023-02-01
