Trends in Hours, Balanced Growth, and the Role of Technology in the Business Cycle
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The present paper revisits a property embedded in most dynamic macroeconomic models: the stationarity of hours worked. First, I argue that, contrary to what is often believed, there are many reasons why hours could be nonstationary in those models, while preserving the property of balanced growth.
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美国国家经济研究局创建时间：
2005-02-01
