Trading Down and the Business Cycle
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https://www.nber.org/papers/w21539
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资源简介：
We document two facts. First, during the Great Recession, consumers traded down in the quality of the goods and services they consumed. Second, the production of low-quality goods is less labor intensive than that of high-quality goods. When households traded down, labor demand fell, increasing the
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美国国家经济研究局创建时间：
2015-09-01
