Welfare Costs of Idiosyncratic and Aggregate Consumption Shocks
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I estimate welfare benefits of eliminating idiosyncratic consumption shocks unrelated to the business cycle as 47.3% of household utility and benefits of eliminating idiosyncratic shocks related to the business cycle as 3.4% of utility. Estimates of the former substantially exceed earlier ones
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美国国家经济研究局创建时间：
2021-07-01
