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Noisy Business Cycles

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NBER2009-05-01 更新2025-01-04 收录
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https://www.nber.org/papers/w14982
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This paper investigates a real-business-cycle economy that features dispersed information about the underlying aggregate productivity shocks, taste shocks, and, potentially, shocks to monopoly power. We show how the dispersion of information can (i) contribute to significant inertia in the response
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2009-05-01
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