Shocks vs. Responsiveness: What Drives Time-Varying Dispersion?
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The dispersion of many economic variables is countercyclical. What drives this fact? Greater dispersion could arise from greater volatility of shocks or from agents responding more to shocks of constant size. Without data separately measuring exogenous shocks and endogenous responses, a theoretical
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美国国家经济研究局创建时间：
2017-02-01
