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Is Labor Supply Important for Business Cycles?

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NBER2012-01-01 更新2025-01-04 收录
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https://www.nber.org/papers/w17779
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We build a general equilibrium model that features uninsurable idiosyncratic shocks, search frictions and an operative labor supply choice along the extensive margin. The model is calibrated to match the average levels of gross flows across the three labor market states: employment, unemployment,
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2012-01-01
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