RBC Models and the Hours-Wages Puzzle: Puzzle Solved!
Author
Abstract
Suggested Citation
DOI: 10.17451/eko/41/2015/108
Download full text from publisher
Other versions of this item:
- Aleksandar Vasilev, 2015. "RBC Models and the Hours-Wages Puzzle: Puzzle Solved!," Ekonomia journal, Faculty of Economic Sciences, University of Warsaw, vol. 41.
- Vasilev, Aleksandar, 2015. "RBC Models and the Hours-Wages Puzzle: Puzzle Solved!," EconStor Preprints 142466, ZBW - Leibniz Information Centre for Economics.
References listed on IDEAS
- Benhabib, Jess & Rogerson, Richard & Wright, Randall, 1991.
"Homework in Macroeconomics: Household Production and Aggregate Fluctuations,"
Journal of Political Economy, University of Chicago Press, vol. 99(6), pages 1166-1187, December.
- Jess Benhabib & Richard Rogerson & Randall Wright, 1991. "Homework in macroeconomics: household production and aggregate fluctuations," Staff Report 135, Federal Reserve Bank of Minneapolis.
- Aleksandar Vasilev, 2017.
"Us Health And Aggregate Fluctuations,"
Bulletin of Economic Research, Wiley Blackwell, vol. 69(2), pages 147-163, April.
- Vasilev, Aleksandar, 2016. "US Health and Aggregate Fluctuations," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 69(2), pages 147-163.
- Aleksandar Vasilev, 2015. "US Health and Aggregate Fluctuations," Bulgarian Economic Papers bep-2015-01, Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria // Center for Economic Theories and Policies at Sofia University St Kliment Ohridski, revised Feb 2015.
- Vasilev, Aleksandar, 2016. "US Health and Aggregate Fluctuations," EconStor Preprints 144584, ZBW - Leibniz Information Centre for Economics.
- Christiano, Lawrence J & Eichenbaum, Martin, 1992.
"Current Real-Business-Cycle Theories and Aggregate Labor-Market Fluctuations,"
American Economic Review, American Economic Association, vol. 82(3), pages 430-450, June.
- Lawrence J. Christiano & Martin S. Eichenbaum, 1990. "Current real business cycle theories and aggregate labor market fluctuations," Working Paper Series, Macroeconomic Issues 90, Federal Reserve Bank of Chicago.
- Lawrence J. Christiano & Martin S. Eichenbaum, 1990. "Current real business cycle theories and aggregate labor market fluctuations," Discussion Paper / Institute for Empirical Macroeconomics 24, Federal Reserve Bank of Minneapolis.
- Alice Albonico & Sarantis Kalyvitis & Evi Pappa, 2012. "Revisiting the “Productivity-Hours Puzzle” in the RBC Paradigm: The Role of Investment Adjustment Costs," Quaderni di Dipartimento 164, University of Pavia, Department of Economics and Quantitative Methods.
- Bornukova, Kateryna, 2009.
"Real Business Cycles in The Model with Two-Person Household and Home Production,"
MPRA Paper
25113, University Library of Munich, Germany.
- Kateryna Bornukova, 2011. "Real Business Cycles in The Model with Two-Person Household and Home Production," BEROC Working Paper Series 12, Belarusian Economic Research and Outreach Center (BEROC), revised May 2011.
- Hansen, Gary D., 1985.
"Indivisible labor and the business cycle,"
Journal of Monetary Economics, Elsevier, vol. 16(3), pages 309-327, November.
- Gary Hansen, 2010. "Indivisible Labor and the Business Cycle," Levine's Working Paper Archive 233, David K. Levine.
- Rogerson, Richard, 1988.
"Indivisible labor, lotteries and equilibrium,"
Journal of Monetary Economics, Elsevier, vol. 21(1), pages 3-16, January.
- Richard Rogerson, 2010. "Indivisible Labor, Lotteries and Equilibrium," Levine's Working Paper Archive 250, David K. Levine.
- Vasilev, Aleksandar, 2016.
"Aggregation with a mix of indivisible and continuous labor supply decisions: the case of home production,"
EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 43(12), pages 1507-1512.
- Vasilev, Aleksandar, 2016. "Aggregation with a mix of indivisible and continuous labor supply decisions: the case of home production," EconStor Preprints 142234, ZBW - Leibniz Information Centre for Economics.
- McGrattan, Ellen R & Rogerson, Richard & Wright, Randall, 1997.
"An Equilibrium Model of the Business Cycle with Household Production and Fiscal Policy,"
International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(2), pages 267-290, May.
- Ellen R. McGrattan & Richard Rogerson & Randall Wright, 1995. "An equilibrium model of the business cycle with household production and fiscal policy," Staff Report 191, Federal Reserve Bank of Minneapolis.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Aleksandar VASILEV, 2017.
"Aggregation With Sequential Indivisible And Continuous Labor Supply Decisions And An Informal Sector,"
Theoretical and Practical Research in the Economic Fields, ASERS Publishing, vol. 8(2), pages 144-148.
- Vasilev, Aleksandar, 2017. "Aggregation with sequential indivisible and continuous labor supply decisions and an informal sector," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 8(2), pages 144-148.
- Vasilev, Aleksandar, 2017. "Aggregation with sequential indivisible and continuous labor supply decisions and an informal sector," EconStor Preprints 168335, ZBW - Leibniz Information Centre for Economics.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Richard Rogerson & Lodewijk P. Visschers & Randall Wright, 2009.
"Labor market fluctuations in the small and in the large,"
International Journal of Economic Theory, The International Society for Economic Theory, vol. 5(1), pages 125-137, March.
- Richard Rogerson & Lodewijk P. Visschers & Randall Wright, 2008. "Labor Market Fluctuations in the Small and in the Large," NBER Working Papers 13872, National Bureau of Economic Research, Inc.
- A. Johri & M-A. Letendre, 2001. "Labour Market Dynamics in RBC Models," Department of Economics Working Papers 2001-03, McMaster University.
- Lawrence Christiano & Mathias Trabandt & Karl Walentin, 2021.
"Involuntary Unemployment and the Business Cycle,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 39, pages 26-54, January.
- Christiano, Lawrence J. & Trabrandt, Mathias & Walentin, Karl, 2010. "Involuntary unemployment and the business cycle," Working Paper Series 1202, European Central Bank.
- Mathias Trabandt & Karl Walentin & Lawrence Christiano, 2016. "Involuntary Unemployment and the Business Cycle," 2016 Meeting Papers 194, Society for Economic Dynamics.
- Lawrence J. Christiano & Mathias Trabandt & Karl Walentin, 2010. "Involuntary unemployment and the business cycle," FRB Atlanta CQER Working Paper 2010-03, Federal Reserve Bank of Atlanta.
- Christiano, Lawrence J. & Trabrandt, Mathias & Walentin, Karl, 2010. "Involuntary Unemployment and the Business Cycle," Working Paper Series 238, Sveriges Riksbank (Central Bank of Sweden), revised 01 Jun 2012.
- Lawrence J. Christiano & Mathias Trabandt & Karl Walentin, 2010. "Involuntary Unemployment and the Business Cycle," NBER Working Papers 15801, National Bureau of Economic Research, Inc.
- Mathias Trabandt & Karl Walentin & Lawrence J. Christiano, 2010. "Involuntary Unemployment and the Business Cycle," 2010 Meeting Papers 129, Society for Economic Dynamics.
- Stephen Millard & Andrew Scott & Marianne Sensier, 1999. "Business cycles and the labour market can theory fit the facts?," Bank of England working papers 93, Bank of England.
- Maliar, Lilia & Maliar, Serguei, 2000.
"Differential Responses of Labor Supply across Productivity Groups,"
Journal of Macroeconomics, Elsevier, vol. 22(1), pages 85-108, January.
- Lilia Maliar & Serguei Maliar, 1999. "- Differential Responses Of Labor Supply Across Productivity Groups," Working Papers. Serie AD 1999-22, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Christiano, Lawrence J. & Trabandt, Mathias & Walentin, Karl, 2010.
"DSGE Models for Monetary Policy Analysis,"
Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 7, pages 285-367,
Elsevier.
- Lawrence J. Christiano & Mathias Trabandt & Karl Walentin, 2010. "DSGE models for monetary policy analysis," FRB Atlanta CQER Working Paper 2010-02, Federal Reserve Bank of Atlanta.
- Lawrence J. Christiano & Mathias Trabandt & Karl Walentin, 2010. "DSGE Models for Monetary Policy Analysis," NBER Working Papers 16074, National Bureau of Economic Research, Inc.
- Fisher, Jonas D. M., 1997.
"Relative prices, complementarities and comovement among components of aggregate expenditures,"
Journal of Monetary Economics, Elsevier, vol. 39(3), pages 449-474, August.
- Jonas D.M. Fisher, 1994. "Relative Prices, Complementarities and Co-movement Among Components of Aggregate Expenditures," University of Western Ontario, Departmental Research Report Series 9405, University of Western Ontario, Department of Economics.
- Perli, Roberto, 1998.
"Indeterminacy, home production, and the business cycle: A calibrated analysis,"
Journal of Monetary Economics, Elsevier, vol. 41(1), pages 105-125, February.
- Roberto Perli, "undated". "Indeterminacy, Home Production, and the Business Cycle: a Calibrated Analysis," CARESS Working Papres 97-4, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
- Roberto Perli, 1995. "Indeterminacy, Home Production, and the Business Cycle: a Calibrated Analysis," Home Pages _042, University of Pennsylvania.
- Morten O. Ravn & Saverio Simonelli, 2007.
"Labor Market Dynamics and the Business Cycle: Structural Evidence for the United States,"
Scandinavian Journal of Economics, Wiley Blackwell, vol. 109(4), pages 743-777, December.
- Ravn, Morten & Simonelli, Saverio, 2007. "Labour Market Dynamics and the Business Cycle: Structural Evidence for the United States," CEPR Discussion Papers 6409, C.E.P.R. Discussion Papers.
- Morten O. Ravn & Saverio Simonelli, 2007. "Labor Market Dynamics and the Business Cycle: Structural Evidence for the United States," CSEF Working Papers 182, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- Lawrence J. Christiano & Michele Boldrin & Jonas D. M. Fisher, 2001.
"Habit Persistence, Asset Returns, and the Business Cycle,"
American Economic Review, American Economic Association, vol. 91(1), pages 149-166, March.
- Michele Boldrin & Lawrence J. Christiano & Jonas D. M. Fisher, 1999. "Habit persistence, asset returns and the business cycles," Working Paper Series WP-99-14, Federal Reserve Bank of Chicago.
- Michele Boldrin & Lawrence J. Christiano & Jonas D. M. Fisher, 2000. "Habit persistence, asset returns and the business cycle," Staff Report 280, Federal Reserve Bank of Minneapolis.
- Ilaski Barañano, 2001. "Endogenous growth and economic fluctuations," Investigaciones Economicas, Fundación SEPI, vol. 25(3), pages 515-541, September.
- Lawrence J. Christiano & Jonas D. M. Fisher, 1995.
"Tobin's Q and asset returns: implications for business cycle analysis,"
Staff Report
200, Federal Reserve Bank of Minneapolis.
- Lawrence J. Christiano & Jonas D. M. Fisher, 1995. "Tobin's Q and asset returns: implications for business cycle analysis," Working Paper Series, Macroeconomic Issues 95-14, Federal Reserve Bank of Chicago.
- Fisher, J.D.M. & Christiano, L.J., 1995. "Tobin's q and Asset Returns: Implications for Business Cyle Analysis," University of Western Ontario, Departmental Research Report Series 9515, University of Western Ontario, Department of Economics.
- Lawrence J. Christiano & Jonas Fisher, 1995. "Tobin's q and Asset Returns: Implications for Business Cycle Analysis," NBER Working Papers 5292, National Bureau of Economic Research, Inc.
- Lawrence J. Christiano, 2011. "Comment on "Unemployment in an Estimated New Keynesian Model"," NBER Chapters, in: NBER Macroeconomics Annual 2011, Volume 26, pages 361-380, National Bureau of Economic Research, Inc.
- Paul Gomme & B. Ravikumar & Peter Rupert, 2011.
"The Return to Capital and the Business Cycle,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 14(2), pages 262-278, April.
- Paul Gomme & B. Ravikumar & Peter Rupert, 2006. "The Return to Capital and the Business Cycle," 2006 Meeting Papers 801, Society for Economic Dynamics.
- Paul Gomme & B. Ravikumar & Peter Rupert, 2006. "The return to capital and the business cycle," Working Papers (Old Series) 0603, Federal Reserve Bank of Cleveland.
- Gomme, Paul & Ravikumar, B & Rupert, Peter, 2007. "The Return to Capital and the Business Cycle," University of California at Santa Barbara, Economics Working Paper Series qt8d5824r7, Department of Economics, UC Santa Barbara.
- Paul Gomme & B. Ravikumar & Peter Rupert, 2008. "The Return to Capital and the Business Cycle," Working Papers 08002, Concordia University, Department of Economics, revised 23 Sep 2010.
- Paul Gomme & B. Ravikumar & Peter Rupert, 2010. "Code and data files for "The Return to Capital and the Business Cycle"," Computer Codes 08-123, Review of Economic Dynamics.
- Riccardo Fiorito & Giulio Zanella, "undated".
"Labor Supply Elasticities: Can Micro be Misleading for Macro?,"
Working Papers
4, Department of the Treasury, Ministry of the Economy and of Finance.
- University of Siena & Riccardo Fiorito, 2008. "Labor Supply Elasticities: Can Micro Be Misleading for Macro?," 2008 Meeting Papers 902, Society for Economic Dynamics.
- Riccardo Fiorito & Giulio Zanella, 2008. "Labor Supply Elasticities: Can Micro Be Misleading for Macro?," Department of Economics University of Siena 547, Department of Economics, University of Siena.
- Finn E. Kydland & Edward C. Prescott, 1996.
"The Computational Experiment: An Econometric Tool,"
Journal of Economic Perspectives, American Economic Association, vol. 10(1), pages 69-85, Winter.
- Finn E. Kydland & Edward C. Prescott, 1994. "The computational experiment: an econometric tool," Staff Report 178, Federal Reserve Bank of Minneapolis.
- Finn E. Kydland & Edward C. Prescott, 1994. "The computational experiment: an econometric tool," Working Papers (Old Series) 9420, Federal Reserve Bank of Cleveland.
- Shuhei Takahashi, 2020.
"Time-Varying Wage Risk, Incomplete Markets, and Business Cycles,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 195-213, July.
- Shuhei Takahashi, 2015. "Time-Varying Wage Risk, Incomplete Markets, and Business Cycles," KIER Working Papers 912, Kyoto University, Institute of Economic Research.
- Shuhei Takahashi, 2019. "Code and data files for "Time-Varying Wage Risk, Incomplete Markets, and Business Cycles"," Computer Codes 19-8, Review of Economic Dynamics.
- R. Jason Faberman, 2010.
"Revisiting the role of home production in life-cycle labor supply,"
Working Papers
10-3, Federal Reserve Bank of Philadelphia.
- R. Jason Faberman, 2015. "Revisiting the Role of Home Production in Life-Cycle Labor Supply," Working Paper Series WP-2015-2, Federal Reserve Bank of Chicago.
- Yongsung Chang & Sun-Bin Kim, 2006.
"From Individual To Aggregate Labor Supply: A Quantitative Analysis Based On A Heterogeneous Agent Macroeconomy ,"
International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 47(1), pages 1-27, February.
- Yongsung Chang & Sun-Bin Kim, 2003. "From Individual to Aggregate Labor Supply: A Quantitative Analysis Based on a Heterogeneous Agent Macroeconomy," Macroeconomics 0307003, University Library of Munich, Germany.
- Yongsung Chang & Sun-Bin Kim, 2003. "From individual to aggregate labor supply : a quantitative analysis based on a heterogeneous agent macroeconomy," Working Paper 03-05, Federal Reserve Bank of Richmond.
- Ellen R. McGrattan, 2006. "Real business cycles," Staff Report 370, Federal Reserve Bank of Minneapolis.
More about this item
Keywords
fiscal policy; home production; government spending shock; indivisible labor;All these keywords.
JEL classification:
- C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:espost:142147. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/zbwkide.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.