Skewness and Time-Varying Second Moments in a Nonlinear Production Network: Theory and Evidence
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This paper studies asymmetry in economic activity over the business cycle. It develops a tractable multisector model of the economy in which complementarity across inputs causes aggregate activity to be left skewed with countercyclical volatility. We then examine implications of the model regarding
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美国国家经济研究局创建时间：
2021-11-01
