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Yongsung Chang

Not to be confused with: Yoosoon Chang

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Yongsung Chang & Jay Hong & Marios Karabarbounis, 2013. "Life Cycle Uncertainty and Portfolio Choice Puzzles," 2013 Meeting Papers 595, Society for Economic Dynamics.

    Mentioned in:

    1. Life Cycle Uncertainty and Portfolio Choice Puzzles
      by Christian Zimmermann in NEP-DGE blog on 2013-12-24 05:57:07
  2. Yongsung Chang & Sun-Bin Kim & Frank Schorfheide, 2011. "Labor-Market Heterogeneity, Aggregation, and the Policy-(In)variance of DSGE Model Parameters," RCER Working Papers 566, University of Rochester - Center for Economic Research (RCER).

    Mentioned in:

    1. Labor-Market Heterogeneity, Aggregation, and the Policy-(In)variance of DSGE Model Parameters
      by Christian Zimmermann in NEP-DGE blog on 2011-10-03 18:18:34
  3. Yongsung Chang & Sun-Bin Kim & Kyooho Kwon & Richard Rogerson, 2019. "Cross-Sectional and Aggregate Labor Supply," ISER Discussion Paper 1063, Institute of Social and Economic Research, Osaka University.

    Mentioned in:

    1. Cross-Sectional and Aggregate Labor Supply
      by Christian Zimmermann in NEP-DGE blog on 2019-10-30 14:29:53
  4. Yongsung Chang & Sun-Bin Kim & Frank Schorfheide, 2010. "Labor-Market Heterogeneity, Aggregation, and the Lucas Critique," RCER Working Papers 556, University of Rochester - Center for Economic Research (RCER).

    Mentioned in:

    1. Labor-Market Heterogeneity, Aggregation, and the Lucas Critique
      by Christian Zimmermann in NEP-DGE blog on 2010-10-08 08:16:08
  5. Sungbae An & Yongsung Chang & Sun-Bin Kim, 2008. "Can a Representative-Agent Model Represent a Heterogeneous-Agent Economy?," RCER Working Papers 542, University of Rochester - Center for Economic Research (RCER).

    Mentioned in:

    1. Heterogeneity is crucial for business cycle models
      by Economic Logician in Economic Logic on 2009-01-27 16:22:00
  6. Mark Bils & Yongsung Chang & Sun-Bin Kim, 2019. "How Sticky Wages In Existing Jobs Can Affect Hiring," Working Paper Series no118, Institute of Economic Research, Seoul National University.

    Mentioned in:

    1. How Sticky Wages In Existing Jobs Can Affect Hiring
      by Christian Zimmermann in NEP-DGE blog on 2019-11-27 18:53:46

Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. Yongsung Chang & Jay H. Hong, 2006. "Do Technological Improvements in the Manufacturing Sector Raise or Lower Employment?," American Economic Review, American Economic Association, vol. 96(1), pages 352-368, March.

    Mentioned in:

    1. Do Technological Improvements in the Manufacturing Sector Raise or Lower Employment? (AER 2006) in ReplicationWiki ()
  2. Mark Bils & Yongsung Chang & Sun-Bin Kim, 2011. "Worker Heterogeneity and Endogenous Separations in a Matching Model of Unemployment Fluctuations," American Economic Journal: Macroeconomics, American Economic Association, vol. 3(1), pages 128-154, January.

    Mentioned in:

    1. Worker Heterogeneity and Endogenous Separations in a Matching Model of Unemployment Fluctuations (AEJ:MA 2011) in ReplicationWiki ()
  3. Sungbae An & Yongsung Chang & Sun-Bin Kim, 2009. "Can a Representative-Agent Model Represent a Heterogeneous-Agent Economy," American Economic Journal: Macroeconomics, American Economic Association, vol. 1(2), pages 29-54, July.

    Mentioned in:

    1. Can a Representative-Agent Model Represent a Heterogeneous-Agent Economy (AEJ:MA 2009) in ReplicationWiki ()
  4. Yongsung Chang & Joao F. Gomes & Frank Schorfheide, 2002. "Learning-by-Doing as a Propagation Mechanism," American Economic Review, American Economic Association, vol. 92(5), pages 1498-1520, December.

    Mentioned in:

    1. Learning-by-Doing as a Propagation Mechanism (AER 2002) in ReplicationWiki ()

Working papers

  1. Yongsung Chang & Jay Hong & Marios Karabarbounis & Yicheng Wang & Tao Zhang, 2021. "Online Appendix to "Income Volatility and Portfolio Choices"," Online Appendices 20-409, Review of Economic Dynamics.

    Cited by:

    1. Felici, Marco & Fuerst, Franz, 2023. "The heterogeneous relationship of owner-occupied and investment property with household portfolio choice," Journal of Housing Economics, Elsevier, vol. 62(C).
    2. Marios Karabarbounis, 2020. "A Life-Cycle Model with Individual Volatility Dynamics," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 4, pages 159-171.
    3. Sylvain Catherine & Paolo Sodini & Yapei Zhang, 2024. "Countercyclical Income Risk and Portfolio Choices: Evidence from Sweden," Journal of Finance, American Finance Association, vol. 79(3), pages 1755-1788, June.
    4. Huang, Bin & Wang, Bin & Chen, Zixuan, 2024. "Individual investment adaptations to COVID-19 lockdowns," The North American Journal of Economics and Finance, Elsevier, vol. 70(C).
    5. Xiaoli, Gan & xiaoyi, Zhang & Xiaoyang, Ma & Khalid, Fahad, 2023. "Impact of financial environment on household risk financial asset selection: A micro perspective," International Review of Economics & Finance, Elsevier, vol. 85(C), pages 137-145.
    6. Park, Jin Seok & Suh, Donghyun, 2019. "Uncertainty and household portfolio choice : Evidence from South Korea," Economics Letters, Elsevier, vol. 180(C), pages 21-24.
    7. Botosaru, Irene, 2023. "Time-varying unobserved heterogeneity in earnings shocks," Journal of Econometrics, Elsevier, vol. 235(2), pages 1378-1393.
    8. Guo, Wei, 2024. "Income volatility and household commercial insurance allocation," Finance Research Letters, Elsevier, vol. 66(C).

  2. Yongsung Chang & Jay H. Hong & Marios Karabarbounis & Yicheng Wang, 2020. "Income Volatility and Portfolio Choices," Working Paper 20-01, Federal Reserve Bank of Richmond.

    Cited by:

    1. Felici, Marco & Fuerst, Franz, 2023. "The heterogeneous relationship of owner-occupied and investment property with household portfolio choice," Journal of Housing Economics, Elsevier, vol. 62(C).
    2. Marios Karabarbounis, 2020. "A Life-Cycle Model with Individual Volatility Dynamics," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 4, pages 159-171.
    3. Sylvain Catherine & Paolo Sodini & Yapei Zhang, 2024. "Countercyclical Income Risk and Portfolio Choices: Evidence from Sweden," Journal of Finance, American Finance Association, vol. 79(3), pages 1755-1788, June.
    4. Huang, Bin & Wang, Bin & Chen, Zixuan, 2024. "Individual investment adaptations to COVID-19 lockdowns," The North American Journal of Economics and Finance, Elsevier, vol. 70(C).
    5. Xiaoli, Gan & xiaoyi, Zhang & Xiaoyang, Ma & Khalid, Fahad, 2023. "Impact of financial environment on household risk financial asset selection: A micro perspective," International Review of Economics & Finance, Elsevier, vol. 85(C), pages 137-145.
    6. Park, Jin Seok & Suh, Donghyun, 2019. "Uncertainty and household portfolio choice : Evidence from South Korea," Economics Letters, Elsevier, vol. 180(C), pages 21-24.
    7. Botosaru, Irene, 2023. "Time-varying unobserved heterogeneity in earnings shocks," Journal of Econometrics, Elsevier, vol. 235(2), pages 1378-1393.
    8. Guo, Wei, 2024. "Income volatility and household commercial insurance allocation," Finance Research Letters, Elsevier, vol. 66(C).

  3. Yongsung Chang & Sun-Bin Kim & Kyooho Kwon & Richard Rogerson, 2019. "Cross-Sectional and Aggregate Labor Supply," ISER Discussion Paper 1063, Institute of Social and Economic Research, Osaka University.

    Cited by:

    1. Stéphane Auray & David L. Fuller & Guillaume Vandenbroucke, 2019. "Comparative Advantage and Moonlighting," Working Papers 2019-016, Federal Reserve Bank of St. Louis, revised Aug 2021.

  4. Yongsung Chang & Sun-Bin Kim & Kyooho Kwon & Richard Rogerson, 2018. "Individual and Aggregate Labor Supply in Heterogeneous Agent Economies with Intensive and Extensive Margins," NBER Working Papers 24985, National Bureau of Economic Research, Inc.

    Cited by:

    1. Ali Elminejad & Tomas Havranek & Roman Horvath & Zuzana Irsova, 2023. "Online Appendix to "Intertemporal Substitution in Labor Supply: A Meta-Analysis"," Online Appendices 23-196, Review of Economic Dynamics.
    2. Minsu Chang & Xiaohong Chen & Frank Schorfheide, 2021. "Heterogeneity and Aggregate Fluctuations," Cowles Foundation Discussion Papers 2289, Cowles Foundation for Research in Economics, Yale University.
    3. Maliar, Lilia & Maliar, Serguei, 2022. "Deep learning classification: Modeling discrete labor choice," Journal of Economic Dynamics and Control, Elsevier, vol. 135(C).
    4. Finkelstein Shapiro, Alan & Mandelman, Federico S., 2021. "Digital adoption, automation, and labor markets in developing countries," Journal of Development Economics, Elsevier, vol. 151(C).
    5. Shuhei Takahashi, 2015. "Time-Varying Wage Risk, Incomplete Markets, and Business Cycles," KIER Working Papers 912, Kyoto University, Institute of Economic Research.
    6. Federico S. Mandelman & Alan Finkelstein Shapiro, 2019. "Digital Adoption, Automation, and Labor Markets in Developing and Emerging Economies," FRB Atlanta Working Paper 2019-22, Federal Reserve Bank of Atlanta.
    7. Froemel, M. & Gottlieb, C., 2016. "The Earned Income Tax Credit: Targeting the Poor but Crowding Out Wealth," Cambridge Working Papers in Economics 1651, Faculty of Economics, University of Cambridge.

  5. Yongsung Chang & Yena Park, 2017. "Optimal Taxation with Private Insurance," 2017 Meeting Papers 1321, Society for Economic Dynamics.

    Cited by:

    1. Stefanie Stantcheva, 2020. "Dynamic Taxation," NBER Working Papers 26704, National Bureau of Economic Research, Inc.
    2. Ferey, Antoine, 2022. "Redistribution and Unemployment Insurance," Rationality and Competition Discussion Paper Series 345, CRC TRR 190 Rationality and Competition.
    3. Ferey, Antoine & Haufler, Andreas & Perroni, Carlo, 2022. "Incentives, Globalization, and Redistribution," Rationality and Competition Discussion Paper Series 335, CRC TRR 190 Rationality and Competition.
    4. Pawel Doligalski & Abdoulaye Ndiaye & Nicolas Werquin, 2020. "Redistribution with Performance Pay," CESifo Working Paper Series 8267, CESifo.
    5. Bo Hyun Chang & Youngsung Chang & Sun-Bin Kim, 2017. "Pareto Weights in Practice: A Quantitative Analysis Across 32 OECD Countries," LIS Working papers 662, LIS Cross-National Data Center in Luxembourg.
    6. Yang, C.C. & Zhao, Xueya & Zhu, Shenghao, 2023. "Tax progressivity and the Pareto tail of income distributions," Economics Letters, Elsevier, vol. 231(C).
    7. Eunseong Ma, 2019. "The Heterogeneous Responses of Consumption between Poor and Rich to Government Spending Shocks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(7), pages 1999-2028, October.
    8. Bo Hyun Chang & Yongsung Chang & Sun-Bin Kim, 2018. "Pareto Weights in Practice: A Quantitative Analysis of 32 OECD Countries," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 28, pages 181-204, April.

  6. Bo Hyun Chang & Yongsung Chang & Sun-Bin Kim, 2016. "Pareto Weights in Practice: A Quantitative Analysis Across 32 OECD Countries," Working papers 2016rwp-92, Yonsei University, Yonsei Economics Research Institute.

    Cited by:

    1. Jeon, Kiyoung & Kabukcuoglu, Zeynep, 2018. "Income inequality and sovereign default," Journal of Economic Dynamics and Control, Elsevier, vol. 95(C), pages 211-232.
    2. Antràs, Pol & de Gortari, Alonso & Itskhoki, Oleg, 2017. "Globalization, inequality and welfare," Journal of International Economics, Elsevier, vol. 108(C), pages 387-412.
    3. Heer, Burkhard & Scharrer, Christian, 2018. "The age-specific burdens of short-run fluctuations in government spending," Journal of Economic Dynamics and Control, Elsevier, vol. 90(C), pages 45-75.
    4. Bo Hyun Chang & Yongsung Chang & Sun-Bin Kim, 2016. "Ex-ante Heterogeneity and Equilibrium Redistribution(Preliminary)," Working papers 2016rwp-93, Yonsei University, Yonsei Economics Research Institute.

  7. Yongsung Chang & Sun-Bin Kim & Bo Hyun Chang, 2015. "Pareto Weights in Practice: Income Inequality and Tax Reform," 2015 Meeting Papers 224, Society for Economic Dynamics.

    Cited by:

    1. Pablo D'Erasmo & Enrique G. Mendoza, 2019. "History Remembered: Optimal Sovereign Default on Domestic and External Debt," Working Papers 19-31, Federal Reserve Bank of Philadelphia.
    2. Punzi, Maria Teresa & Rabitsch, Katrin, 2017. "Effectiveness of macroprudential policies under borrower heterogeneity," Department of Economics Working Paper Series 253, WU Vienna University of Economics and Business.

  8. Yongsung Chang & Jay H. Hong & Marios Karabarbounis, 2014. "Labor-Market Uncertainty and Portfolio Choice Puzzles," Working Paper 14-13, Federal Reserve Bank of Richmond.

    Cited by:

    1. Yongsung Chang & Jay Hong & Marios Karabarbounis & Yicheng Wang & Tao Zhang, 2021. "Online Appendix to "Income Volatility and Portfolio Choices"," Online Appendices 20-409, Review of Economic Dynamics.
    2. Fabio C. Bagliano & Carolina Fugazza & Giovanna Nicodano, 2020. "Life-Cycle Welfare Losses from Rules-of-Thumb Asset Allocation," Carlo Alberto Notebooks 616, Collegio Carlo Alberto.
    3. Hubar, Sylwia & Koulovatianos, Christos & Li, Jian, 2020. "The role of labor-income risk in household risk-taking?," CFS Working Paper Series 640, Center for Financial Studies (CFS).
    4. Bagliano, Fabio C. & Fugazza, Carolina & Nicodano, Giovanna, 2024. "Life-cycle risk-taking with personal disaster risk," International Review of Economics & Finance, Elsevier, vol. 89(PB), pages 378-396.
    5. Ellora Derenoncourt & Chi Hyun Kim & Moritz Kuhn & Moritz Schularick, 2024. "Unemployment risk, portfolio choice, and the racial wealth gap," CRC TR 224 Discussion Paper Series crctr224_2024_508, University of Bonn and University of Mannheim, Germany.
    6. Yongsung Chang & Jay. H. Hong & Marios Karabarbounis & Yicheng Wang, 2020. "Income Volatility and Portfolio Choices," Working Paper Series no131, Institute of Economic Research, Seoul National University.
    7. Du, You, 2023. "Health investment and medical risk: New explanations of the portfolio puzzle," Economic Modelling, Elsevier, vol. 127(C).
    8. Fong, Joelle H. & Koh, Benedict SK. & Mitchell, Olivia S. & Rohwedder, Susann, 2019. "Financial literacy and suboptimal financial decisions at older ages," CFS Working Paper Series 630, Center for Financial Studies (CFS).
    9. Fong, Joelle H. & Koh, Benedict S.K. & Mitchell, Olivia S. & Rohwedder, Susann, 2021. "Financial literacy and financial decision-making at older ages," Pacific-Basin Finance Journal, Elsevier, vol. 65(C).
    10. Mann, Katja & Davenport, Margaret, 2016. "Demography, Capital Flows and Asset Allocation over the Life-cycle," VfS Annual Conference 2016 (Augsburg): Demographic Change 145948, Verein für Socialpolitik / German Economic Association.
    11. Jung, Daesun & Kim, Young Sik, 2020. "Income volatility, household leverage, and consumption in Korea," Japan and the World Economy, Elsevier, vol. 53(C).
    12. Guodong Chen & Minjoon Lee & Tong-yob Nam, 2018. "Forced Retirement Risk and Portfolio Choice," Carleton Economic Papers 18-06, Carleton University, Department of Economics.
    13. Gao, Xiang & Sun, Li, 2021. "Modeling retirees’ investment behaviors in the presence of health expenditure risk and financial crisis risk," Economic Modelling, Elsevier, vol. 94(C), pages 442-454.
    14. Ivo Bakota, 2020. "Capital Income Taxation with Portfolio Choice," CERGE-EI Working Papers wp668, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    15. Mark Huggett & Greg Kaplan, 2015. "How Large is the Stock Component of Human Capital?," NBER Working Papers 21238, National Bureau of Economic Research, Inc.
    16. Park, Jin Seok & Suh, Donghyun, 2019. "Uncertainty and household portfolio choice : Evidence from South Korea," Economics Letters, Elsevier, vol. 180(C), pages 21-24.
    17. You Du & Weige Huang, 2023. "Portfolio Allocation with Medical Expenditure Risk-A Life Cycle Model and Machine Learning Analysis," Journal of Regional Economics, Anser Press, vol. 2(1), pages 53-68, October.
    18. Ellora Derenoncourt & Chi Hyun Kim & Moritz Kuhn & Moritz Schularick, 2024. "Unemployment Risk, Portfolio Choice, and the Racial Wealth Gap," Opportunity and Inclusive Growth Institute Working Papers 086, Federal Reserve Bank of Minneapolis.
    19. Bagliano, Fabio C. & Fugazza, Carolina & Nicodano, Giovanna, 2019. "Life-cycle portfolios, unemployment and human capital loss," Journal of Macroeconomics, Elsevier, vol. 60(C), pages 325-340.
    20. Minsu Chang, 2023. "Online Appendix to "Changing Marital Transitions and Homeownership Among Young Households"," Online Appendices 21-30, Review of Economic Dynamics.
    21. Kartik Athreya & Felicia Ionescu & Urvi Neelakantan, 2023. "Stock Market Participation: The Role of Human Capital," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 47, pages 1-18, January.
    22. Ellora Derenoncourt & Chi Hyun Kim & Moritz Kuhn & Moritz Schularick, 2023. "Unemployment Risk, Portfolio Choice, and the Racial Wealth Gap," ECONtribute Discussion Papers Series 265, University of Bonn and University of Cologne, Germany.
    23. Christos I. Giannikos & Efstathia D. Korkou, 2023. "Gender and Risk-Taking in the Building of U.S. Retirement Wealth," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 51(4), pages 259-274, December.
    24. Ellora Derenoncourt & Chi Hyun Kim & Moritz Kuhn & Moritz Schularick, 2023. "Unemployment Risk, Portfolio Choice, and the Racial Wealth Gap," Working Papers 332, Princeton University, Department of Economics, Center for Economic Policy Studies..
    25. Gálvez, Julio & Paz-Pardo, Gonzalo, 2023. "Richer earnings dynamics, consumption and portfolio choice over the life cycle," Working Paper Series 2810, European Central Bank.
    26. Cai, Xiqian & Cheng, Zhengquan & Li, Dongxu, 2024. "Balancing against geopolitical risk: Household investment portfolios during the U.S.-China trade war," Finance Research Letters, Elsevier, vol. 66(C).
    27. Wang, Yuanping & Wang, Dongfang & Hou, Chunxiao, 2022. "Information acquisition and asset allocation with unknown income growth," Economics Letters, Elsevier, vol. 213(C).
    28. Christos I. Giannikos & Efstathia Korkou, 2022. "Gender Differences in Risk-Taking Investment Strategies in Defined Contribution Plans," JRFM, MDPI, vol. 15(5), pages 1-18, May.

  9. Yongsung Chang & Sun-Bin Kim & Kyooho Kwon & Richard Rogerson, 2014. "Individual and Aggregate Labor Supply in a Heterogeneous Agent Economy with Intensive and Extensive Margins," RCER Working Papers 583, University of Rochester - Center for Economic Research (RCER).

    Cited by:

    1. Tomoyuki Nakajima & Shuhei Takahashi, 2016. "Consumption Taxes and Divisibility of Labor under Incomplete Markets," UTokyo Price Project Working Paper Series 065, University of Tokyo, Graduate School of Economics.
    2. Sungki Hong, 2017. "Customer Capital, Markup Cyclicality, and Amplification," Working Papers 2017-33, Federal Reserve Bank of St. Louis.
    3. Sungki Hong, 2019. "Customer Capital, Markup Cyclicality, and Amplification," 2019 Meeting Papers 959, Society for Economic Dynamics.
    4. Mark Bils & Peter J. Klenow & Benjamin A. Malin, 2014. "Resurrecting the Role of the Product Market Wedge in Recessions," NBER Working Papers 20555, National Bureau of Economic Research, Inc.
    5. David Coble, 2015. "The Labor Wedge: New Facts Based on US Microdata," Working Papers Central Bank of Chile 751, Central Bank of Chile.
    6. Temel Taskin, 2013. "Intensive margin and extensive margin adjustments of labor market: Turkey versus United States," Economics Bulletin, AccessEcon, vol. 33(3), pages 2307-2319.
    7. Tomoyuki Nakajima & Shuhei Takahashi, 2017. "The Effectiveness of Consumption Taxes and Transfers as Insurance against Idiosyncratic Risk," UTokyo Price Project Working Paper Series 074, University of Tokyo, Graduate School of Economics.
    8. Sungki Hong, 2017. "Markup Cyclicality: A Tale of Two Models," Working Papers 2017-34, Federal Reserve Bank of St. Louis.
    9. Daniel Borowczyk-Martins & Etienne Lalé, 2019. "Employment Adjustment and Part-Time Work: Lessons from the United States and the United Kingdom," American Economic Journal: Macroeconomics, American Economic Association, vol. 11(1), pages 389-435, January.
    10. Yum, Minchul, 2018. "On the distribution of wealth and employment," Working Papers 18-03, University of Mannheim, Department of Economics.
    11. Abdoulaye Ndiaye, 2017. "Flexible Retirement and Optimal Taxation," Working Paper Series WP-2018-18, Federal Reserve Bank of Chicago.

  10. Mark Bils & Yongsung Chang & Sun-Bin Kim, 2014. "How Sticky Wages in Existing Jobs Can Affect Hiring," NBER Working Papers 19821, National Bureau of Economic Research, Inc.

    Cited by:

    1. Michael Redmond & Willem Van Zandweghe, 2016. "The Lasting Damage from the Financial Crisis to U.S. Productivity," Economic Review, Federal Reserve Bank of Kansas City, issue Q I, pages 39-64.
    2. Marco Fongoni, 2018. "Workers' reciprocity and the (ir)relevance of wage cyclicality for the volatility of job creation," Working Papers 1809, University of Strathclyde Business School, Department of Economics.
    3. Bauer, Anja & Lochner, Benjamin, 2017. "History dependence in wages and cyclical selection: Evidence from Germany," FAU Discussion Papers in Economics 23/2017, Friedrich-Alexander University Erlangen-Nuremberg, Institute for Economics.
    4. Jeffrey Clemens & Lisa B. Kahn & Jonathan Meer, 2018. "The Minimum Wage, Fringe Benefits, and Worker Welfare," NBER Working Papers 24635, National Bureau of Economic Research, Inc.
    5. Mikael Carlsson & Andreas Westermark, 2022. "Endogenous Separations, Wage Rigidities, and Unemployment Volatility," American Economic Journal: Macroeconomics, American Economic Association, vol. 14(1), pages 332-354, January.
    6. Joris Tielens, 2019. "Pipeline Pressures and Sectoral Inflation Dynamics," 2019 Meeting Papers 856, Society for Economic Dynamics.
    7. Fernando Martins & Pedro Portugal, 2014. "Wage adjustments during a severe economic downturn," Economic Bulletin and Financial Stability Report Articles and Banco de Portugal Economic Studies, Banco de Portugal, Economics and Research Department.
    8. Jonathon Hazell & Bledi Taska, 2020. "Downward Rigidity in the Wage for New Hires," Discussion Papers 2028, Centre for Macroeconomics (CFM).
    9. Snell, Andy & Stüber, Heiko & Thomas, Jonathan P., 2018. "Downward Real Wage Rigidity and Equal Treatment Wage Contracts: Theory and Evidence," IZA Discussion Papers 11504, Institute of Labor Economics (IZA).
    10. Bordo, Michael & Erceg, Christopher & Levin, Andrew & Michaels, Ryan, 2017. "Policy credibility and alternative approaches to disinflation," Research in Economics, Elsevier, vol. 71(3), pages 422-440.
    11. Jung, Euiyoung, 2023. "Wage rigidity and destabilizing spirals," Journal of Macroeconomics, Elsevier, vol. 77(C).
    12. Lenno Uuskula, 2015. "Firm turnover and inflation dynamics," Bank of Estonia Working Papers wp2015-01, Bank of Estonia, revised 03 Feb 2015.
    13. Lewis, Vivien & Villa, Stefania, 2023. "Labor productivity, effort and the Euro Area business cycle," CEPR Discussion Papers 18389, C.E.P.R. Discussion Papers.
    14. Fernando Martins & Paulo Guimarães & Pedro Portugal, 2017. "Upward Nominal Wage Rigidity," Working Papers w201702, Banco de Portugal, Economics and Research Department.
    15. Yicheng Wang, 2015. "Can Wage Dynamics in Long-term Employment Relationships Help Mitigate Financial Shocks?," 2015 Meeting Papers 1189, Society for Economic Dynamics.

  11. Yongsung Chang & Jay Hong & Marios Karabarbounis, 2013. "Life Cycle Uncertainty and Portfolio Choice Puzzles," 2013 Meeting Papers 595, Society for Economic Dynamics.

    Cited by:

    1. Kartik B. Athreya & Felicia Ionescu & Urvi Neelakantan, 2015. "Stock Market Investment: The Role of Human Capital," Working Paper 15-7, Federal Reserve Bank of Richmond.

  12. Sun-Bin Kim & Richard Rogerson & Yongsung Chang, 2012. "Hours and Employment in the Cross-Section and Over the Cycle," 2012 Meeting Papers 82, Society for Economic Dynamics.

    Cited by:

    1. François Langot & Alessandra Pizzo, 2015. "Accounting for Labor GAPS," Working Papers Central Bank of Chile 757, Central Bank of Chile.

  13. Yongsung Chang & Andreas Hornstein, 2011. "Transition dynamics in the neoclassical growth model : the case of South Korea," Working Paper 11-04, Federal Reserve Bank of Richmond.

    Cited by:

    1. Chun Chang & Kaiji Chen & Daniel F. Waggoner & Tao Zha, 2015. "Trends and Cycles in China's Macroeconomy," NBER Working Papers 21244, National Bureau of Economic Research, Inc.
    2. Herrendorf, Berthold & Rogerson, Richard & Valentinyi, Ákos, 2014. "Growth and Structural Transformation," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 2, chapter 6, pages 855-941, Elsevier.
    3. Wenbiao Cai & B. Ravikumar & Raymond G. Riezman, 2015. "The Quantitative Importance Of Openness In Development," Economic Inquiry, Western Economic Association International, vol. 53(4), pages 1839-1849, October.
    4. Michelle Connolly & Kei-Mu Yi, 2015. "How Much of South Korea's Growth Miracle Can Be Explained by Trade Policy?," American Economic Journal: Macroeconomics, American Economic Association, vol. 7(4), pages 188-221, October.
    5. Guo, Kaiming & Hang, Jing & Yan, Se, 2021. "Servicification of investment and structural transformation: The case of China," China Economic Review, Elsevier, vol. 67(C).
    6. Todd Schoellman & Bart Hobijn, 2017. "Structural Transformation by Cohort," 2017 Meeting Papers 1417, Society for Economic Dynamics.
    7. Manuel Garcia-Santana & Josep Pijoan-Mas & Lucciano Villacorta, 2018. "Investment and Saving along the Development Path," 2018 Meeting Papers 870, Society for Economic Dynamics.

  14. Yongsung Chang & Sun-Bin Kim & Kyooho Kwon & Richard Rogerson, 2011. "Interpreting Labor Supply Regressions in a Model of Full and Part-Time Work," RCER Working Papers 560, University of Rochester - Center for Economic Research (RCER).

    Cited by:

    1. Ali Elminejad & Tomas Havranek & Roman Horvath & Zuzana Irsova, 2023. "Online Appendix to "Intertemporal Substitution in Labor Supply: A Meta-Analysis"," Online Appendices 23-196, Review of Economic Dynamics.
    2. Michele Cantarella & Chiara Strozzi, 2021. "Workers in the crowd: the labor market impact of the online platform economy [An evaluation of instrumental variable strategies for estimating the effects of catholic schooling]," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 30(6), pages 1429-1458.
    3. Attanasio, Orazio & Low, Hamish & Sánchez-Marcos, Virginia & Levell, Peter, 2015. "Aggregating Elasticities: Intensive and Extensive Margins of Female Labour Supply," CEPR Discussion Papers 10732, C.E.P.R. Discussion Papers.
    4. Sun-Bin Kim & Richard Rogerson & Yongsung Chang, 2012. "Hours and Employment in the Cross-Section and Over the Cycle," 2012 Meeting Papers 82, Society for Economic Dynamics.
    5. Day Manoli & Andrea Weber, 2014. "Nonparametric Evidence on the Effects of Financial Incentives on Retirement Decisions," CESifo Working Paper Series 4619, CESifo.
    6. Yonsung Chang & Sun-Bin Kim & Kyooho Kwon, 2012. "Individual and Aggregate Labor Supply in a Heterogeneous Agent Economy with Intensive and Extensive Margins," Working papers 2012rwp-48, Yonsei University, Yonsei Economics Research Institute.
    7. Griffy, Benjamin & Gomis-Porqueras, Pedro, 2020. "Part and Full-Time Employment over the Business Cycle," MPRA Paper 105095, University Library of Munich, Germany.
    8. John K. Dagsvik & Zhiyang Jia & Tom Kornstad & Thor O. Thoresen, 2014. "Theoretical And Practical Arguments For Modeling Labor Supply As A Choice Among Latent Jobs," Journal of Economic Surveys, Wiley Blackwell, vol. 28(1), pages 134-151, February.
    9. Yunisvita & Sari Lestari Zainal Ridho & Anna Yulianita, 2017. "Full-time Work Determinants in Rural Urban Fringe," International Journal of Economics and Financial Issues, Econjournals, vol. 7(4), pages 225-228.
    10. Moore, Rachel & Pecoraro, Brandon, 2021. "Quantitative Analysis of a Wealth Tax in the United States: Exclusions, Evasion, and Expenditures," MPRA Paper 109120, University Library of Munich, Germany.
    11. Daniel Borowczyk-Martins & Etienne Lalé, 2019. "Employment Adjustment and Part-Time Work: Lessons from the United States and the United Kingdom," American Economic Journal: Macroeconomics, American Economic Association, vol. 11(1), pages 389-435, January.
    12. Leila Bengali & Robert G. Valletta & Catherine van der List, 2015. "Cyclical and market determinants of involuntary part-time employment," Working Paper Series 2015-19, Federal Reserve Bank of San Francisco.
    13. Moore, Rachel & Pecoraro, Brandon, 2023. "Quantitative analysis of a wealth tax for the United States: Exclusions and expenditures," Journal of Macroeconomics, Elsevier, vol. 78(C).
    14. Kang, Hyunju & Park, Jaevin & Suh, Hyunduk, 2020. "The rise of part-time employment in the great recession: Its causes and macroeconomic effects," Journal of Macroeconomics, Elsevier, vol. 66(C).
    15. Moore, Rachel & Pecoraro, Brandon, 2020. "Macroeconomic implications of modeling the Internal Revenue Code in a heterogeneous-agent framework," Economic Modelling, Elsevier, vol. 87(C), pages 72-91.
    16. Michael Keane & Richard Rogerson, 2015. "Reconciling Micro and Macro Labor Supply Elasticities: A Structural Perspective," Annual Review of Economics, Annual Reviews, vol. 7(1), pages 89-117, August.
    17. Maria Casanova, 2012. "Wage and Earnings Profiles at Older Ages," Working Papers 2012-001, Human Capital and Economic Opportunity Working Group.
    18. Orazio Attanasio, 2012. "Comment on "Does Indivisible Labor Explain the Difference between Micro and Macro Elasticities? A Meta-Analysis of Extensive Margin Elasticities"," NBER Chapters, in: NBER Macroeconomics Annual 2012, Volume 27, pages 57-77, National Bureau of Economic Research, Inc.
    19. Orazio Attanasio, 2013. "Comment," NBER Macroeconomics Annual, University of Chicago Press, vol. 27(1), pages 57-77.
    20. Wang, Hai & Yang, Hai, 2019. "Ridesourcing systems: A framework and review," Transportation Research Part B: Methodological, Elsevier, vol. 129(C), pages 122-155.
    21. Rachel Moore & Brandon Pecoraro, 2021. "A Tale of Two Bases: Progressive Taxation of Capital and Labor Income," Public Finance Review, , vol. 49(3), pages 335-391, May.
    22. Maria Casanova, 2012. "Wage and Earnings Profiles at Older Ages," 2012 Meeting Papers 1166, Society for Economic Dynamics.
    23. Orazio Attanasio & Peter Levell & Hamish Low & Virginia Sánchez‐Marcos, 2018. "Aggregating Elasticities: Intensive and Extensive Margins of Women's Labor Supply," Econometrica, Econometric Society, vol. 86(6), pages 2049-2082, November.
    24. Michael Keane & Richard Rogerson, 2012. "Micro and Macro Labor Supply Elasticities: A Reassessment of Conventional Wisdom," Journal of Economic Literature, American Economic Association, vol. 50(2), pages 464-476, June.

  15. Yongsung Chang & Sun-Bin Kim & Frank Schorfheide, 2011. "Labor-Market Heterogeneity, Aggregation, and the Policy-(In)variance of DSGE Model Parameters," RCER Working Papers 566, University of Rochester - Center for Economic Research (RCER).

    Cited by:

    1. F. Canova & F. Ferroni & C. Matthes, 2015. "Approximating time varying structural models with time invariant structures," Working papers 578, Banque de France.
    2. Barrios Cobos, Salvador & Dolls, Mathias & Maftei, Anamaria & Peichl, Andreas & Riscado, Sara & Varga, Janos & Wittneben, Christian, 2017. "Dynamic scoring of tax reforms in the European Union," ZEW Discussion Papers 17-017, ZEW - Leibniz Centre for European Economic Research.
    3. Samuel Hurtado, 2013. "DSGE Models and the Lucas critique," Working Papers 1310, Banco de España.
    4. Jang-Ok Cho & Thomas Cooley & Hyung Seok Kim, 2015. "Business Cycle Uncertainty and Economic Welfare," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 18(2), pages 185-200, April.
    5. Dolls, Mathias & Wittneben, Christian, 2017. "Dynamic Scoring of Tax Reforms in the EU," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168261, Verein für Socialpolitik / German Economic Association.
    6. Frank Schorfheide, 2012. "EconomicDynamics Interviews Frank Schorfheide on DSGE Model Estimation," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 13(2), April.
    7. Marcin Bielecki & Michał Brzoza-Brzezina & Marcin Kolasa & Krzysztof Makarski, 2017. "Could the boom-bust in the eurozone periphery have been prevented?," NBP Working Papers 263, Narodowy Bank Polski.
    8. Moore, Rachel & Pecoraro, Brandon, 2020. "Macroeconomic implications of modeling the Internal Revenue Code in a heterogeneous-agent framework," Economic Modelling, Elsevier, vol. 87(C), pages 72-91.
    9. Makoto Nakajima, 2013. "Monetary Policy with Heterogeneous Agents," 2013 Meeting Papers 356, Society for Economic Dynamics.
    10. Saito, Yuta, 2014. "Are Deep Parameters Policy-Invariant?," MPRA Paper 66236, University Library of Munich, Germany.
    11. Dmitry I. Malakhov & Nikolay P. Pilnik & Igor G. Pospelov, 2015. "Stability of Distribution of Relative Sizes of Banks as an Argument for the Use of the Representative Agent Concept," HSE Working papers WP BRP 116/EC/2015, National Research University Higher School of Economics.
    12. Yagihashi, Takeshi, 2018. "How costly is a misspecified credit channel DSGE model in monetary policymaking?," Economic Modelling, Elsevier, vol. 68(C), pages 484-505.
    13. Macnamara Patrick, 2016. "Understanding entry and exit: a business cycle accounting approach," The B.E. Journal of Macroeconomics, De Gruyter, vol. 16(1), pages 47-91, January.

  16. Sunoong Hwang & Yongsung Chang, 2011. "Asymmetric Phase Shifts in U.S. Industrial Production Cycles," 2011 Meeting Papers 31, Society for Economic Dynamics.

    Cited by:

    1. Koh, Dongya & Santaeulà lia-Llopis, Raül, 2022. "Countercyclical Elasticity of Substitution," CEPR Discussion Papers 17246, C.E.P.R. Discussion Papers.
    2. Sumru Altug & Fabio Canova, 2012. "Do Institutions and Culture Matter for Business Cycles?," Working Papers 627, Barcelona School of Economics.
    3. Hyun, Junghwan, 2018. "The dynamics of credit reallocation: South Korea's post-crisis experience," Japan and the World Economy, Elsevier, vol. 48(C), pages 57-70.
    4. Ritabrata Bose & Ashima Goyal, 2020. "Disaggregated Indian industrial cycles: A Spectral analysis," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2020-033, Indira Gandhi Institute of Development Research, Mumbai, India.
    5. Palenzuela, Diego Rodriguez & Saiz, Lorena & Stoevsky, Grigor & Tóth, Máté & Warmedinger, Thomas & Grigoraș, Veaceslav, 2024. "The euro area business cycle and its drivers," Occasional Paper Series 354, European Central Bank.
    6. Guisinger, Amy Y. & Owyang, Michael T. & Soques, Daniel, 2024. "Industrial Connectedness and Business Cycle Comovements," Econometrics and Statistics, Elsevier, vol. 29(C), pages 132-149.
    7. Gregor Bäurle & Elizabeth Steiner & Gabriel Züllig, 2021. "Forecasting the production side of GDP," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 40(3), pages 458-480, April.
    8. Steven Cassou & Jesús Vázquez, 2014. "Employment comovements at the sectoral level over the business cycle," Empirical Economics, Springer, vol. 46(4), pages 1301-1323, June.

  17. Yongsung Chang & Sun-Bin Kim, 2010. "The Price of Egalitarianism," RCER Working Papers 558, University of Rochester - Center for Economic Research (RCER).

    Cited by:

    1. Kartik B. Athreya & Jessica Sackett Romero, 2015. "Land of Opportunity: Economic Mobility in the United States," Economic Quarterly, Federal Reserve Bank of Richmond, issue 2Q, pages 169-191.

  18. Chang, Yongsung & Schorfheide, Frank, 2010. "Labor-Market Heterogeneity, Aggregation, and the Lucas Critique," CEPR Discussion Papers 8039, C.E.P.R. Discussion Papers.

    Cited by:

    1. Francesco Sergi, 2018. "DSGE Models and the Lucas Critique. A Historical Appraisal," Working Papers 20181806, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
    2. Hashem M. Pesaran & Ron P. Smith, 2011. "Beyond the DSGE Straitjacket," CESifo Working Paper Series 3447, CESifo.
    3. Fernando J. Pérez Forero, 2017. "Measuring the Stance of Monetary Policy in a Time-Varying," Working Papers 102, Peruvian Economic Association.
    4. Christian Bayer & Volker Tjaden, 2016. "Large Open Economies and Fixed Costs of Capital Adjustment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 21, pages 125-146, July.
    5. Fabio Canova & Matthias Paustian, 2007. "Business cycle measurement with some theory," Economics Working Papers 1203, Department of Economics and Business, Universitat Pompeu Fabra, revised Jul 2011.
    6. Francisco J. Buera & Benjamin Moll, 2012. "Aggregate Implications of a Credit Crunch," NBER Working Papers 17775, National Bureau of Economic Research, Inc.

  19. Sun-Bin Kim & Frank Schorfheide & Yongsung Chang, 2010. "Financial Frictions, Aggregation, and the Lucas Critique," 2010 Meeting Papers 31, Society for Economic Dynamics.

    Cited by:

    1. Chang, Chia-ling & Chen, Shu-heng, 2011. "Interactions in DSGE models: The Boltzmann-Gibbs machine and social networks approach," Economics Discussion Papers 2011-25, Kiel Institute for the World Economy (IfW Kiel).
    2. Fabio Canova & Matthias Paustian, 2007. "Business cycle measurement with some theory," Economics Working Papers 1203, Department of Economics and Business, Universitat Pompeu Fabra, revised Jul 2011.
    3. Chen, Shu-heng & Chang, Chia-ling, 2012. "Interactions in the New Keynesian DSGE models: The Boltzmann-Gibbs machine and social networks approach," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 6, pages 1-32.

  20. Mark Bils & Yongsung Chang & Sun-Bin Kim, 2009. "Comparative Advantage and Unemployment," NBER Working Papers 15030, National Bureau of Economic Research, Inc.

    Cited by:

    1. Chassamboulli, Andri, 2013. "Labor-market volatility in a matching model with worker heterogeneity and endogenous separations," Labour Economics, Elsevier, vol. 24(C), pages 217-229.
    2. Isabel Cairó & Shigeru Fujita & Camilo Morales-Jimenez, 2020. "The Cyclicality of Labor Force Participation Flows: The Role of Labor Supply Elasticities and Wage Rigidity," Working Papers 20-23, Federal Reserve Bank of Philadelphia.
    3. Lalé, Etienne, 2018. "Loss of skill and labor market fluctuations," Labour Economics, Elsevier, vol. 50(C), pages 20-31.
    4. Toshihiko Mukoyama, 2019. "Heterogeneous Jobs and the Aggregate Labour Market," The Japanese Economic Review, Japanese Economic Association, vol. 70(1), pages 30-50, March.
    5. Jean Flemming, 2018. "Costly Commuting and the Job Ladder," 2018 Meeting Papers 100, Society for Economic Dynamics.
    6. Isabel Cairo & Shigeru Fujita & Camilo Morales-Jimenez, 2022. "The Cyclicality of Labor Force Participation Flows: The Role of Labor," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 43, pages 197-216, January.
    7. Federico Di Pace & Matthias S. Hertweck, 2012. "Labour Market Frictions, Monetary Policy and Durable Goods," Working Paper Series of the Department of Economics, University of Konstanz 2012-09, Department of Economics, University of Konstanz.
    8. Jose Mustre-del-Rio, 2011. "The aggregate implications of individual labor supply heterogeneity," Research Working Paper RWP 11-09, Federal Reserve Bank of Kansas City.
    9. Ronald Bachmann & Mathias Sinning, 2016. "Decomposing the Ins and Outs of Cyclical Unemployment," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 78(6), pages 853-876, December.
    10. Jose I. Silva & Manuel Toledo, 2010. "Investment-Specific Shocks and Cyclical Fluctuations in a Frictional Labor Market," 2010 Meeting Papers 852, Society for Economic Dynamics.
    11. Miescu, Mirela & Rossi, Raffaele, 2021. "COVID-19-induced shocks and uncertainty," European Economic Review, Elsevier, vol. 139(C).
    12. Schoefer, Benjamin & Mui, Preston, 2019. "Reservation Raises: The Aggregate Labor Supply Curve at the Extensive Margin," CEPR Discussion Papers 14209, C.E.P.R. Discussion Papers.
    13. Simon Jäger & Benjamin Schoefer & Josef Zweimüller, 2023. "Marginal Jobs and Job Surplus: A Test of the Efficiency of Separations," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 90(3), pages 1265-1303.
    14. Gabriel Chodorow-Reich & Loukas Karabarbounis, "undated". "The Cyclicality of the Opportunity Cost of Employment," Working Paper 126541, Harvard University OpenScholar.
    15. Étienne Lalé, 2022. "Search and Multiple Jobholding," CIRANO Working Papers 2022s-28, CIRANO.
    16. Giuseppe Moscarini & Fabien Postel-Vinay, 2014. "Wage Posting and Business Cycles: a Quantitative Exploration," SciencePo Working papers Main hal-03460143, HAL.
    17. Andreas Mueller, 2014. "Separations, Sorting and Cyclical Unemployment," 2014 Meeting Papers 404, Society for Economic Dynamics.
    18. Chetty, Nadarajan & Guren, Adam & Manoli, Day & Weber, Andrea, 2013. "Does Indivisible Labor Explain the Difference between Micro and Macro Elasticities? A Meta-Analysis of Extensive Margin Elasticities," Scholarly Articles 27304826, Harvard University Department of Economics.
    19. Shao, Enchuan & Silos, Pedro, 2017. "Wealth inequality and employment fluctuations," Economic Modelling, Elsevier, vol. 67(C), pages 125-135.
    20. Ravenna, Federico & Walsh, Carl, 2020. "Worker heterogeneity, selection, and employment dynamics in the face of aggregate demand and pandemic shocks," CEPR Discussion Papers 15043, C.E.P.R. Discussion Papers.
    21. Sum Lo Simon Ming, 2023. "Desired work-leisure balance in a partial equilibrium job search model with multiple job holding," IZA Journal of Labor Economics, Sciendo & Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 12(1), pages 1-43, December.
    22. Andrés Erosa & Luisa Fuster & Gueorgui Kambourov, 2016. "Towards a Micro-Founded Theory of Aggregate Labour Supply," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 83(3), pages 1001-1039.
    23. Alexandre Mas & Amanda Pallais, 2017. "Labor Supply and the Value of Non-Work Time: Experimental Estimates from the Field," NBER Working Papers 23906, National Bureau of Economic Research, Inc.
    24. Lei Fang & Anne Hannusch & Pedro Silos, 2020. "Bundling Time and Goods: Implications for Hours Dispersion," FRB Atlanta Working Paper 2020-1, Federal Reserve Bank of Atlanta.
    25. Barrela, Rodrigo & Costa, Eduardo & Portugal, Pedro, 2024. "On the Asymmetrical Sensitivity of the Distribution of Real Wages to Business Cycle Fluctuations," IZA Discussion Papers 16911, Institute of Labor Economics (IZA).
    26. Fang, Lei & Zhu, Guozhong, 2017. "Time allocation and home production technology," Journal of Economic Dynamics and Control, Elsevier, vol. 78(C), pages 88-101.
    27. Brendan Epstein, 2012. "Heterogeneous workers, optimal job seeking, and aggregate labor market dynamics," International Finance Discussion Papers 1053, Board of Governors of the Federal Reserve System (U.S.).
    28. Federico Ravenna & Carl E. Walsh, 2012. "Screening and Labor Market Flows in a Model with Heterogeneous Workers," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44(s2), pages 31-71, December.
    29. Jose Mustre-del-Rio, 2014. "Online Appendix to "Wealth and Labor Supply Heterogeneity"," Online Appendices 12-158, Review of Economic Dynamics.
    30. Jongsuk Han, 2013. "Cyclical Employment and Learning Ability," 2013 Meeting Papers 1022, Society for Economic Dynamics.
    31. Gomme, Paul & Lkhagvasuren, Damba, 2015. "Worker search effort as an amplification mechanism," Journal of Monetary Economics, Elsevier, vol. 75(C), pages 106-122.
    32. Branger, Nicole & Larsen, Linda Sandris & Munk, Claus, 2019. "Hedging recessions," Journal of Economic Dynamics and Control, Elsevier, vol. 107(C), pages 1-1.
    33. Michael Dotsey & Wenli Li & Fang Yang, 2014. "Consumption And Time Use Over The Life Cycle," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 55(3), pages 665-692, August.
    34. Wenli Li & Fang Yang & Michael Dotsey, 2010. "Consumption and Home Production over the Life Cycle," 2010 Meeting Papers 423, Society for Economic Dynamics.
    35. Hie Joo Ahn & Ling Shao, 2017. "Precautionary On-the-Job Search over the Business Cycle," Finance and Economics Discussion Series 2017-025, Board of Governors of the Federal Reserve System (U.S.).
    36. Federico Ravenna & Carl E. Walsh, 2022. "Worker Heterogeneity, Selection, and Unemployment Dynamics in a Pandemic," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(S1), pages 113-155, February.
    37. Sengul, Gonul, 2017. "Learning about match quality: Information flows and labor market outcomes," Labour Economics, Elsevier, vol. 46(C), pages 118-130.
    38. Makoto Nakajima, 2012. "Business Cycles In The Equilibrium Model Of Labor Market Search And Self‐Insurance," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 53(2), pages 399-432, May.

  21. Yongsung Chang & Sun-Bin Kim & Mark Bils, 2009. "Comparative Advantage and Aggregate Unemployment," 2009 Meeting Papers 11, Society for Economic Dynamics.

    Cited by:

    1. Federico Ravenna & Carl E. Walsh, 2012. "Screening and Labor Market Flows in a Model with Heterogeneous Workers," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44(s2), pages 31-71, December.
    2. Makoto Nakajima, 2012. "Business Cycles In The Equilibrium Model Of Labor Market Search And Self‐Insurance," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 53(2), pages 399-432, May.

  22. Mr. Jaewoo Lee & Yongsung Chang & Sun-Bin Kim, 2009. "Accounting for Global Dispersion of Current Accounts," IMF Working Papers 2009/276, International Monetary Fund.

    Cited by:

    1. Luca Fornaro, 2018. "International Debt Deleveraging," Journal of the European Economic Association, European Economic Association, vol. 16(5), pages 1394-1432.
    2. Kim, Soyoung & Lee, Jaewoo, 2015. "Imbalances over the Pacific," Journal of Macroeconomics, Elsevier, vol. 45(C), pages 173-185.
    3. Peeters, Marga, 2010. "The changing pattern in international trade and capital flows of the Gulf cooperation council countries in comparison with other oil-exporting countries," MPRA Paper 23539, University Library of Munich, Germany.
    4. Michael Sposi, 2019. "Demographics and the Evolution of Global Imbalances," Departmental Working Papers 1906, Southern Methodist University, Department of Economics.
    5. Michael Siemer & Adrien Verdelhan & Francois Gourio, 2015. "Uncertainty and International Capital Flows," 2015 Meeting Papers 880, Society for Economic Dynamics.
    6. Marga Peeters, 2010. "The changing pattern of international trade and capital flows of the GCC countries," European Economy - Economic Papers 2008 - 2015 415, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    7. Ricardo Reyes-Heroles, 2017. "The Role of Trade Costs in the Surge of Trade Imbalances," 2017 Meeting Papers 212, Society for Economic Dynamics.
    8. Christopher Andrew Hartwell, 2014. "Capital Controls and the Determinants of Entrepreneurship," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 64(6), pages 434-456, December.
    9. Mr. Damiano Sandri, 2011. "Precautionary Savings and Global Imbalances in World General Equilibrium," IMF Working Papers 2011/122, International Monetary Fund.
    10. Fogli, Alessandra & Perri, Fabrizio, 2015. "Macroeconomic volatility and external imbalances," Journal of Monetary Economics, Elsevier, vol. 69(C), pages 1-15.
    11. Gete, Pedro & Melkadze, Givi, 2018. "Aggregate volatility and international dynamics. The role of credit supply," Journal of International Economics, Elsevier, vol. 111(C), pages 143-158.
    12. Ito, Hiro & McCauley, Robert N., 2019. "A key currency view of global imbalances," Journal of International Money and Finance, Elsevier, vol. 94(C), pages 97-115.
    13. Haiping Zhang, 2023. "Trade‐induced sectoral upgrading and upstream financial flows," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 56(3), pages 859-896, August.
    14. Atish R Ghosh & Mahvash S Qureshi & Charalambos G Tsangarides, 2019. "Friedman Redux: External Adjustment and Exchange Rate Flexibility," The Economic Journal, Royal Economic Society, vol. 129(617), pages 408-438.
    15. Mr. Jörg Decressin & Mr. Emil Stavrev, 2009. "Current Accounts in a Currency Union," IMF Working Papers 2009/127, International Monetary Fund.

  23. Mark Bils & Yongsung Chang & Sun-Bin Kim, 2008. "Heterogeneity and Cyclical Unemployment," Discussion Paper Series 0805, Institute of Economic Research, Korea University.

    Cited by:

    1. Kai Liu, 2010. "Wage Risk, On-the-job Search and Partial Insurance," 2010 Meeting Papers 1136, Society for Economic Dynamics.
    2. Per Krusell & Toshihiko Mukoyama & Aysegul Sahin, 2009. "Labor-Market Matching with Precautionary Savings and Aggregate Fluctuations," NBER Working Papers 15282, National Bureau of Economic Research, Inc.
    3. Mark Bils & Yongsung Chang & Sun-Bin Kim, 2009. "Comparative Advantage and Unemployment," NBER Working Papers 15030, National Bureau of Economic Research, Inc.
    4. Christian Bayer & Klaus Wälde, 2010. "Matching and Saving in Continuous Time: Theory," Working Papers 1004, Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz, revised 13 Jan 2010.

  24. Sungbae An & Yongsung Chang & Sun-Bin Kim, 2008. "Can a Representative-Agent Model Represent a Heterogeneous-Agent Economy?," Microeconomics Working Papers 22056, East Asian Bureau of Economic Research.

    Cited by:

    1. Dinlersoz, Emin & Hyatt, Henry R. & Janicki, Hubert P., 2016. "Who Works for Whom? Worker Sorting in a Model of Entrepreneurship with Heterogeneous Labor Markets," IZA Discussion Papers 9693, Institute of Labor Economics (IZA).
    2. Emin Dinlersoz & Henry Hyatt & Hubert Janicki, 2019. "Online Appendix to "Who Works for Whom? Worker Sorting in a Model of Entrepreneurship with Heterogeneous Labor Markets"," Online Appendices 18-290, Review of Economic Dynamics.
    3. Matthew O. Jackson & Leeat Yariv, 2020. "The Non-Existence of Representative Agents," Working Papers 2020-74, Princeton University. Economics Department..
    4. Chen, Huayi & Ma, Tieju, 2021. "Technology adoption and carbon emissions with dynamic trading among heterogeneous agents," Energy Economics, Elsevier, vol. 99(C).
    5. Jeong, Jaehun & Shim, Myungkyu, 2022. "On the welfare cost of business cycles: The role of labor-market heterogeneity," Journal of Macroeconomics, Elsevier, vol. 73(C).
    6. Sun-Bin Kim & Richard Rogerson & Yongsung Chang, 2012. "Hours and Employment in the Cross-Section and Over the Cycle," 2012 Meeting Papers 82, Society for Economic Dynamics.
    7. Yonsung Chang & Sun-Bin Kim & Kyooho Kwon, 2012. "Individual and Aggregate Labor Supply in a Heterogeneous Agent Economy with Intensive and Extensive Margins," Working papers 2012rwp-48, Yonsei University, Yonsei Economics Research Institute.
    8. Bechlioulis, Alexandros P. & Brissimis, Sophocles N., 2021. "Identifying key aspects of household behavior in a representative agent framework," Economic Modelling, Elsevier, vol. 97(C), pages 105-117.
    9. Chen, Huayi & Zhou, P., 2019. "Modeling systematic technology adoption: Can one calibrated representative agent represent heterogeneous agents?," Omega, Elsevier, vol. 89(C), pages 257-270.
    10. Sun-Bin Kim & Frank Schorfheide & Yongsung Chang, 2010. "Financial Frictions, Aggregation, and the Lucas Critique," 2010 Meeting Papers 31, Society for Economic Dynamics.
    11. Richard Rogerson, 2011. "Individual and Aggregate Labor Supply with Coordinated Working Times," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43, pages 7-37, August.
    12. Michael Keane & Richard Rogerson, 2015. "Reconciling Micro and Macro Labor Supply Elasticities: A Structural Perspective," Annual Review of Economics, Annual Reviews, vol. 7(1), pages 89-117, August.
    13. Gallen, Trevor S., 2021. "Predicting and decomposing why representative agent and heterogeneous agent models sometimes diverge," Economic Modelling, Elsevier, vol. 101(C).
    14. Jorge Alonso-Ortiz & Richard Rogerson, 2010. "Taxes, transfers, and employment in an incomplete markets model," FRB Atlanta CQER Working Paper 2010-07, Federal Reserve Bank of Atlanta.
    15. Yongsung Chang & Sun-Bin Kim & Frank Schorfheide, 2010. "Labor-Market Heterogeneity, Aggregation, and the Lucas Critique," NBER Working Papers 16401, National Bureau of Economic Research, Inc.
    16. Janicki, Hubert P., 2014. "The role of asset testing in public health insurance reform," Journal of Economic Dynamics and Control, Elsevier, vol. 44(C), pages 169-195.

  25. Mark Bils & Yongsung Chang & Sun-Bin Kim, 2007. "Comparative Advantage in Cyclical Unemployment," Discussion Paper Series 0713, Institute of Economic Research, Korea University.

    Cited by:

    1. Chassamboulli, Andri, 2013. "Labor-market volatility in a matching model with worker heterogeneity and endogenous separations," Labour Economics, Elsevier, vol. 24(C), pages 217-229.
    2. Leena Rudanko, 2008. "Aggregate and Idiosyncratic Risk in a Frictional Labor Market," Boston University - Department of Economics - Working Papers Series wp2008-009, Boston University - Department of Economics.
    3. Ronald Bachmann & Mathias Sinning, 2016. "Decomposing the Ins and Outs of Cyclical Unemployment," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 78(6), pages 853-876, December.
    4. Per Krusell & Toshihiko Mukoyama & Aysegul Sahin, 2009. "Labor-Market Matching with Precautionary Savings and Aggregate Fluctuations," NBER Working Papers 15282, National Bureau of Economic Research, Inc.
    5. Moon, Weh-Sol, 2011. "Endogenous labor force participation and firing costs," Labour Economics, Elsevier, vol. 18(5), pages 607-623, October.
    6. Christian Bayer & Klaus Wälde, 2010. "Matching and Saving in Continuous Time: Theory," Working Papers 1004, Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz, revised 13 Jan 2010.
    7. Jeremy Lawson & Crystal Ossolinski, 2010. "Employment Composition: A Study of Australian Employment Growth, 2002–2006," RBA Research Discussion Papers rdp2010-04, Reserve Bank of Australia.
    8. Mark Bils & Yongsung Chang & Sun-Bin Kim, 2008. "Heterogeneity and Cyclical Unemployment," Discussion Paper Series 0805, Institute of Economic Research, Korea University.
    9. Mark Bils & Yongsung Chang & Sun-Bin Kim, 2011. "Worker Heterogeneity and Endogenous Separations in a Matching Model of Unemployment Fluctuations," American Economic Journal: Macroeconomics, American Economic Association, vol. 3(1), pages 128-154, January.

  26. Yongsung Chang & Andreas Hornstein, 2006. "Home production," Working Paper 06-04, Federal Reserve Bank of Richmond.

    Cited by:

    1. Ken Yamada, 2010. "Intertemporal Substitution in the Time Allocation of Married Women," Working Papers 27-2010, Singapore Management University, School of Economics.
    2. Mazen A. Eldeeb & Benjamin Akih-Kumgeh, 2018. "Recent Trends in the Production, Combustion and Modeling of Furan-Based Fuels," Energies, MDPI, vol. 11(3), pages 1-47, February.
    3. Fang Yang & Michael Dotsey & Wenli Li, 2014. "Home Production and Social Security Reform," Departmental Working Papers 2014-02, Department of Economics, Louisiana State University.
    4. Bulent Guler & Temel Taskin, 2013. "Does Unemployment Insurance Crowd out Home Production?," Working Papers 1323, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    5. Frank Schorfheide, 2008. "Comment on "How Structural Are Structural Parameters?"," NBER Chapters, in: NBER Macroeconomics Annual 2007, Volume 22, pages 149-163, National Bureau of Economic Research, Inc.
    6. Taskin, Temel, 2011. "Unemployment insurance and home production," MPRA Paper 34878, University Library of Munich, Germany.
    7. Michael Dotsey & Wenli Li & Fang Yang, 2014. "Consumption And Time Use Over The Life Cycle," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 55(3), pages 665-692, August.

  27. Yongsung Chang & Andreas Hornstein & Pierre-Daniel G. Sarte, 2006. "Understanding how employment responds to productivity shocks in a model with inventories," Working Paper 06-06, Federal Reserve Bank of Richmond.

    Cited by:

    1. Kryvtsov, Oleksiy & Midrigan, Virgiliu, 2010. "Inventories and real rigidities in New Keynesian business cycle models," Journal of the Japanese and International Economies, Elsevier, vol. 24(2), pages 259-281, June.
    2. Matteo Iacoviello & Fabio Schiantarelli & Scott Schuh, 2010. "Input and output inventories in general equilibrium," International Finance Discussion Papers 1004, Board of Governors of the Federal Reserve System (U.S.).
    3. Dai Tiantian & Liu Xiangbo & Sun Wei, 2020. "The effects of monetary policy on input inventories," The B.E. Journal of Macroeconomics, De Gruyter, vol. 20(1), pages 1-34, January.
    4. Oleksiy Kryvtsov & Virgiliu Midrigan, 2009. "Inventories, Markups, and Real Rigidities in Menu Cost Models," NBER Working Papers 14651, National Bureau of Economic Research, Inc.
    5. Thanh Nguyen & Arsenio Staer & Jing Yang, 2024. "Productivity Shocks of Dominant Companies and Local Housing Markets," International Real Estate Review, Global Social Science Institute, vol. 27(2), pages 203-247.
    6. Kim, Sangho & Lim, Hyunjoon & Park, Donghyun, 2010. "Productivity and Employment in a Developing Country: Some Evidence from Korea," World Development, Elsevier, vol. 38(4), pages 514-522, April.
    7. Ahmad Jafari Samimi & Yosof Essazadeh Roshan, 2012. "The Impact of ICT Shocks on Business Cycle Some Evidence from Iran," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 17(1), pages 123-145, winter.

  28. Yongsung Chang & Jay H. Hong, 2005. "Do technological improvements in the manufacturing sector raise or lower employment?," Working Papers 05-5, Federal Reserve Bank of Philadelphia.

    Cited by:

    1. Guglielmo Maria Caporale & Davide Ciferri & Alessandro Girardi, 2008. "Fiscal Shocks and Real Exchange Rate Dynamics: Some Evidence for Latin America," CESifo Working Paper Series 2228, CESifo.
    2. Patrick Fève & Alain Guay, 2010. "Identification of Technology Shocks in Structural Vars," Economic Journal, Royal Economic Society, vol. 120(549), pages 1284-1318, December.
    3. Christopher J. Nekarda & Valerie A. Ramey, 2011. "Industry Evidence on the Effects of Government Spending," American Economic Journal: Macroeconomics, American Economic Association, vol. 3(1), pages 36-59, January.
    4. Kindberg-Hanlon,Gene, 2021. "The Technology-Employment Trade-Off : Automation, Industry, and Income Effects," Policy Research Working Paper Series 9529, The World Bank.
    5. Justiniano, Alejandro & Primiceri, Giorgio E. & Tambalotti, Andrea, 2010. "Investment shocks and business cycles," Journal of Monetary Economics, Elsevier, vol. 57(2), pages 132-145, March.
    6. Benjamin Born & Johannes Pfeifer, 2017. "Uncertainty-driven Business Cycles: Assessing the Markup Channel," CESifo Working Paper Series 6303, CESifo.
    7. Olivier Cardi & Romain Restout, 2023. "Why Hours Worked Decline Less after Technology Shocks?Â," Working Papers 396800288, Lancaster University Management School, Economics Department.
    8. Sergey Lychagin & Joris Pinkse & Margaret E. Slade & John Van Reenen, 2010. "Spillovers in Space: Does Geography Matter?," CEP Discussion Papers dp0991, Centre for Economic Performance, LSE.
    9. Luisito Bertinelli & Olivier Cardi & Romain Restout, 2021. "Labor Market Effects of Technology Shocks Biased toward the Traded Sector," Working Papers 342990229, Lancaster University Management School, Economics Department.
    10. Aleksei Netsunajev, 2013. "Reaction to technology shocks in Markov-switching structural VARs: identification via heteroskedasticity," Bank of Estonia Working Papers wp2012-6, Bank of Estonia, revised 03 Jan 2013.
    11. Rui CASTRO & Gian Luca CLEMENTI & Yoonsoo LEE, 2014. "Cross–Sectoral Variation in The Volatility of Plant–Level Idiosyncratic Shocks," Cahiers de recherche 15r-2010, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    12. Marta Aloi & Huw Dixon & Anthony Savagar, 2021. "Labor Responses, Regulation, and Business Churn," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(1), pages 119-156, February.
    13. Canova, Fabio & Hamidi Sahneh, Mehdi, 2016. "Are small scale VARs useful for business cycle analysis? Revisiting Non-Fundamentalness," CEPR Discussion Papers 11041, C.E.P.R. Discussion Papers.
    14. KWON Hyeog Ug & Jun-Hyung KO, 2013. "Do Technology Shocks Lower Hours Worked? Evidence from the Japan Industrial Productivity Database," Discussion papers 13018, Research Institute of Economy, Trade and Industry (RIETI).
    15. Nucci, Francesco & Marchetti, Domenico J., 2006. "Pricing Behaviour and the Response of Hours to Productivity Shocks," CEPR Discussion Papers 5504, C.E.P.R. Discussion Papers.
    16. Holly, S. & Petrella, I., 2008. "Factor demand linkages and the business cycle: Interpreting aggregate fluctuations as sectoral fluctuations," Cambridge Working Papers in Economics 0827, Faculty of Economics, University of Cambridge.
    17. Hashmat Khan & Christopher R. Knittel & Konstantinos Metaxoglou & Maya Papineau, 2016. "Carbon Emissions and Business Cycles," NBER Working Papers 22294, National Bureau of Economic Research, Inc.
    18. Eugenia Nazrullaeva, 2008. "Measurement of technological progress in Russia (in Russian)," Quantile, Quantile, issue 5, pages 59-82, September.
    19. Khosravi, Mahdi & Mehrabi Boshrabadi , Hossein & Ahmadyan, Azam & Jalaei, Seyyed Abdolmajid, 2016. "How Do Agricultural Subsectors Respond to Productivity Shocks? Evidence from a Bayesian DSGE Model in Iran," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 11(3), pages 305-330, July.
    20. Régis Barnichon, 2007. "Productivity, Aggregate Demand and Unemployment Fluctuations," CEP Discussion Papers dp0819, Centre for Economic Performance, LSE.
    21. G. Peersman & R. Straub, 2005. "Technology Shocks and Robust Sign Restrictions in a Euro Area SVAR," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 05/288, Ghent University, Faculty of Economics and Business Administration.
    22. Karamé, Frédéric & Patureau, Lise & Sopraseuth, Thepthida, 2008. "Limited participation and exchange rate dynamics: Does theory meet the data?," Journal of Economic Dynamics and Control, Elsevier, vol. 32(4), pages 1041-1087, April.
    23. Cristiano Cantore & Filippo Ferroni & Miguel A. León-Ledesma, 2012. "The dynamics of hours worked and technology," Working Papers 1238, Banco de España.
    24. Ríos-Rull, José-Víctor & Santaeulàlia-Llopis, Raül, 2010. "Redistributive shocks and productivity shocks," Journal of Monetary Economics, Elsevier, vol. 57(8), pages 931-948, November.
    25. Sean Holly & Ivan Petrella, 2012. "Factor Demand Linkages, Technology Shocks, and the Business Cycle," The Review of Economics and Statistics, MIT Press, vol. 94(4), pages 948-963, November.
    26. Roberto M Samaniego, 2004. "Does Employment Protection Inhibit Technical Diffusion?," Computing in Economics and Finance 2004 51, Society for Computational Economics.
    27. Chang, Yongsung & Hornstein, Andreas & Sarte, Pierre-Daniel, 2009. "On the employment effects of productivity shocks: The role of inventories, demand elasticity, and sticky prices," Journal of Monetary Economics, Elsevier, vol. 56(3), pages 328-343, April.
    28. Mumtaz Ahmad & John Fernald & Hashmat Khan, 2019. "Returns to Scale in U.S. Production, Redux," Carleton Economic Papers 19-07, Carleton University, Department of Economics.
    29. Daniela Hauser, 2014. "Technology Shocks, Labour Mobility and Aggregate Fluctuations," Staff Working Papers 14-4, Bank of Canada.
    30. Martial Dupaigne & Patrick Feve & Julien Matheron, 2007. "Technology Shocks, Non-stationary Hours and DSVAR," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 10(2), pages 238-255, April.
    31. Mitra, Aruni, 2021. "The Productivity Puzzle and the Decline of Unions," MPRA Paper 110102, University Library of Munich, Germany.
    32. Kim, Sangho & Lim, Hyunjoon & Park, Donghyun, 2010. "Productivity and Employment in a Developing Country: Some Evidence from Korea," World Development, Elsevier, vol. 38(4), pages 514-522, April.
    33. Wei, Xiaoyun & Han, Liyan, 2020. "Targeted reduction in reserve requirement ratio and optimal monetary policy in China," International Review of Economics & Finance, Elsevier, vol. 69(C), pages 209-230.
    34. CASTRO, Rui & CLEMENTI, Gian Luca & LEE, Yoonsoo, 2010. "Cross-Sectoral Variation in Firm-Level Idiosyncratic Risk," Cahiers de recherche 15-2010, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    35. Lorenza Rossi, 2016. "Productivity Shocks and Uncertainty Shocks in a Model with Endogenous Firms Exit and Inefficient Banks," DEM Working Papers Series 128, University of Pavia, Department of Economics and Management.
    36. Francesco Busato & Alessandro Girardi & Amadeo Argentiero, 2005. "Technology and non-technology shocks in a two-sector economy," Economics Working Papers 2005-11, Department of Economics and Business Economics, Aarhus University.
    37. Mollick, André Varella & Cabral, René, 2009. "Productivity effects on Mexican manufacturing employment," The North American Journal of Economics and Finance, Elsevier, vol. 20(1), pages 66-81, March.
    38. Christopher J. Nekarda & Valerie A. Ramey, 2020. "The Cyclical Behavior of the Price‐Cost Markup," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(S2), pages 319-353, December.
    39. Raquel Fonseca Benito & Lise Patureau & Thepthida Sopraseuth, 2008. "Divergence in Labor Market Institutions and International Business Cycles," Working Papers WR-562, RAND Corporation.
    40. Efdal Ulas Misirli, 2018. "Productivity Risk and Industry Momentum," Financial Management, Financial Management Association International, vol. 47(3), pages 739-774, September.
    41. Kim, Daisoon, 2021. "Economies of scale and international business cycles," Journal of International Economics, Elsevier, vol. 131(C).
    42. Hikaru Saijo, 2019. "Technology Shocks and Hours Revisited: Evidence from Household Data," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 31, pages 347-362, January.
    43. Yongsung Chang & Andreas Hornstein & Pierre-Daniel G. Sarte, 2006. "Understanding how employment responds to productivity shocks in a model with inventories," Working Paper 06-06, Federal Reserve Bank of Richmond.
    44. Park, Kangwoo, 2012. "Employment responses to aggregate and sectoral technology shocks," Journal of Macroeconomics, Elsevier, vol. 34(3), pages 801-821.
    45. Taeyoung Doh, 2009. "Yield curve in an estimated nonlinear macro model," Research Working Paper RWP 09-04, Federal Reserve Bank of Kansas City.
    46. Kim Jung-Wook & Chun Hyunbae, 2011. "Technology Shocks and Employment: Evidence from U.S. Firm-Level Data," The B.E. Journal of Macroeconomics, De Gruyter, vol. 11(1), pages 1-23, September.
    47. Lorenza Rossi, 2018. "The Overshooting of Firms Destruction, Banks and Productivity Shocks," DEM Working Papers Series 147, University of Pavia, Department of Economics and Management.
    48. Rujin, Svetlana, 2024. "Labor market institutions and technology-induced labor adjustment along the extensive and intensive margins," Journal of Macroeconomics, Elsevier, vol. 79(C).
    49. Hashmat Khan & John Tsoukalas, 2011. "Effects of Productivity Shocks on Employment: UK Evidence (revised 25 February 2013)," Carleton Economic Papers 11-05, Carleton University, Department of Economics, revised 25 Feb 2013.
    50. Sangyup Choi & Myungkyu Shim, 2018. "Labor Market Dynamics in Developing Economies: the Role of Subsistence Consumption," Working papers 2018rwp-127, Yonsei University, Yonsei Economics Research Institute.
    51. Ahmad Jafari Samimi & Yosof Essazadeh Roshan, 2012. "The Impact of ICT Shocks on Business Cycle Some Evidence from Iran," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 17(1), pages 123-145, winter.
    52. Shim, Myungkyu & Yang, Hee-Seung, 2016. "New stylized facts on occupational employment and their implications: Evidence from consistent employment data," Economic Modelling, Elsevier, vol. 59(C), pages 402-415.
    53. Yongsung Chang & Andreas Hornstein & Pierre-Daniel G. Sarte, 2004. "Productivity, employment, and inventories," Working Paper 04-09, Federal Reserve Bank of Richmond.
    54. Ko, Jun-Hyung & Kwon, Hyeog Ug, 2015. "Do technology shocks lower hours worked? – Evidence from Japanese industry level data," Journal of Macroeconomics, Elsevier, vol. 44(C), pages 138-157.
    55. Hussain, Syed Muhammad, 2015. "The contractionary effects of tax shocks on productivity: An empirical and theoretical analysis," Journal of Macroeconomics, Elsevier, vol. 43(C), pages 93-107.
    56. Faria, Joao Ricardo & Mollick, Andre Varella, 2010. "Tobin's q and U.S. inflation," Journal of Economics and Business, Elsevier, vol. 62(5), pages 401-418, September.
    57. Gospodinov, Nikolay & Maynard, Alex & Pesavento, Elena, 2011. "Sensitivity of Impulse Responses to Small Low-Frequency Comovements: Reconciling the Evidence on the Effects of Technology Shocks," Journal of Business & Economic Statistics, American Statistical Association, vol. 29(4), pages 455-467.
    58. Claudio, João C. & von Schweinitz, Gregor, 2020. "On the international dissemination of technology news shocks," IWH Discussion Papers 25/2020, Halle Institute for Economic Research (IWH).
    59. Andre Varella Mollick & Rene Cabral Torres, 2007. "Productivity Effects on Mexican Manufacturing Employment before and after NAFTA," CID Working Papers 152, Center for International Development at Harvard University.
    60. Barnichon, Regis, 2010. "Productivity and unemployment over the business cycle," Journal of Monetary Economics, Elsevier, vol. 57(8), pages 1013-1025, November.
    61. Krzysztof Bartosik, 2010. "Wpływ wydajności pracy na zatrudnienie w polskim przemyśle przetwórczym," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 7-8, pages 1-19.
    62. Stéphane Lhuissier, 2015. "The Regime-switching volatility of Euro Area Business Cycles," Working Papers 2015-22, CEPII research center.
    63. Khan Hashmat & Tsoukalas John, 2013. "Effects of productivity shocks on hours worked: UK evidence," The B.E. Journal of Macroeconomics, De Gruyter, vol. 13(1), pages 549-579, September.
    64. Acconcia, Antonio & Simonelli, Saverio, 2008. "Interpreting aggregate fluctuations looking at sectors," Journal of Economic Dynamics and Control, Elsevier, vol. 32(9), pages 3009-3031, September.
    65. Rujin, Svetlana, 2019. "What are the effects of technology shocks on international labor markets?," Ruhr Economic Papers 806, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    66. Yi Wen & Pengfei Wang, 2008. "A Defense of RBC:Understanding the Puzzling Effects of Technology Shocks," 2008 Meeting Papers 7, Society for Economic Dynamics.
    67. Ko, Jun-Hyung & Murase, Koichi, 2013. "Great Moderation in the Japanese economy," Japan and the World Economy, Elsevier, vol. 27(C), pages 10-24.

  29. Chang, Yongsung & Schorfheide, Frank & Doh, Taeyoung, 2005. "Non-stationary Hours in a DSGE Model," CEPR Discussion Papers 5232, C.E.P.R. Discussion Papers.

    Cited by:

    1. Patrick F?ve & Julien Matheron & Jean-Guillaume Sahuc, 2013. "A Pitfall with Estimated DSGE-Based Government Spending Multipliers," American Economic Journal: Macroeconomics, American Economic Association, vol. 5(4), pages 141-178, October.
    2. Wieland, Volker & Wolters, Maik, 2013. "Forecasting and Policy Making," Handbook of Economic Forecasting, in: G. Elliott & C. Granger & A. Timmermann (ed.), Handbook of Economic Forecasting, edition 1, volume 2, chapter 0, pages 239-325, Elsevier.
    3. Mumtaz, Haroon & Zanetti, Francesco, 2015. "Factor adjustment costs: A structural investigation," Journal of Economic Dynamics and Control, Elsevier, vol. 51(C), pages 341-355.
    4. Patrick Fève & Alain Guay, 2010. "Identification of Technology Shocks in Structural Vars," Economic Journal, Royal Economic Society, vol. 120(549), pages 1284-1318, December.
    5. Takuji Fueki & Ichiro Fukunaga & Hibiki Ichiue & Toyoichiro Shirota, 2010. "Measuring Potential Growth with an Estimated DSGE Model of Japan's Economy," Bank of Japan Working Paper Series 10-E-13, Bank of Japan.
    6. Ivashchenko, S., 2020. "Long-term growth sources for sectors of Russian economy," Journal of the New Economic Association, New Economic Association, vol. 48(4), pages 86-112.
    7. Fabio Canova & Tobias Menz, 2009. "Does money matter in shaping domestic business cycles? An international investigation (with appendices)," Economics Working Papers 1242, Department of Economics and Business, Universitat Pompeu Fabra, revised Nov 2010.
    8. Fève, Patrick & Matheron, Julien & Sahuc, Jean-Guillaume, 2009. "Désinflation et chômage dans la zone euro: une analyse à l'aide d'un modèle VAR structurel," TSE Working Papers 09-014, Toulouse School of Economics (TSE).
    9. Massimo Franchi & Paolo Paruolo, 2015. "Minimality of State Space Solutions of DSGE Models and Existence Conditions for Their VAR Representation," Computational Economics, Springer;Society for Computational Economics, vol. 46(4), pages 613-626, December.
    10. Fabio Canova & Tobias Menz, 2010. "Japan's Lost Decade: Does Money Have a Role?," NBER Chapters, in: Sticky Prices and Inflation Dynamics (NBER-TCER-CEPR), pages 178-195, National Bureau of Economic Research, Inc.
    11. Lombardi, Marco J. & Sgherri, Silvia, 2007. "(Un)naturally low? Sequential Monte Carlo tracking of the US natural interest rate," Working Paper Series 794, European Central Bank.
    12. S. Boragan Aruoba & Luigi Bocola & Frank Schorfheide, 2013. "Assessing DSGE model nonlinearities," Working Papers 13-47, Federal Reserve Bank of Philadelphia.
    13. K. Kanjamapornkul & Richard Pinv{c}'ak & Erik Bartov{s}, 2016. "The study of Thai stock market across the 2008 financial crisis," Papers 1606.02871, arXiv.org.
    14. Shu-Chun S. Yang & Nora Traum, 2011. "When Does Government Debt Crowd Out Investment?," 2011 Meeting Papers 479, Society for Economic Dynamics.
    15. Fève, Patrick & Matheron, Julien & Sahuc, Jean-Guillaume, 2009. "Une estimation de la cible implicite d’inflation dans la zone euro," TSE Working Papers 09-137, Toulouse School of Economics (TSE).
    16. Cantore, C. & Ferroni, F. & León-Ledesma, M A., 2011. "Interpreting the Hours-Technology time-varying relationship," Working papers 351, Banque de France.
    17. Votinov, A., 2022. "The effects of additional non-stationary processes on the properties of DSGE-models," Journal of the New Economic Association, New Economic Association, vol. 55(3), pages 28-43.
    18. Taeyoung Doh, 2012. "What Does the Yield Curve Tell Us about the Federal Reserve’s Implicit Inflation Target?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44(2‐3), pages 469-486, March.
    19. Rots, Eyno, 2017. "Imperfect information and the house price in a general-equilibrium model," Journal of Economic Dynamics and Control, Elsevier, vol. 83(C), pages 215-231.
    20. Amélie Charles & Olivier Darné & Fabien Tripier, 2011. "Are Unit Root Tests Useful in the Debate over the (Non) Stationarity of Hours Worked?," Post-Print hal-00797521, HAL.
    21. Stefania Albanesi, 2019. "Changing Business Cycles: The Role of Women's Employment," Working Paper 6608, Department of Economics, University of Pittsburgh.
    22. Fève, Patrick & Moura, Alban & Pierrard, Olivier, 2017. "Financial Regulation and Shadow Banking: A Small-Scale DSGE Perspective," TSE Working Papers 17-829, Toulouse School of Economics (TSE), revised Aug 2018.
    23. Fabio Canova, 2012. "Bridging DSGE models and the raw data," Working Papers 635, Barcelona School of Economics.
    24. Holly, S. & Petrella, I., 2008. "Factor demand linkages and the business cycle: Interpreting aggregate fluctuations as sectoral fluctuations," Cambridge Working Papers in Economics 0827, Faculty of Economics, University of Cambridge.
    25. Fernández-Villaverde, J. & Rubio-Ramírez, J.F. & Schorfheide, F., 2016. "Solution and Estimation Methods for DSGE Models," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 527-724, Elsevier.
    26. Michal Andrle & Tibor Hledik & Ondra Kamenik & Jan Vlcek, 2009. "Implementing the New Structural Model of the Czech National Bank," Working Papers 2009/2, Czech National Bank.
    27. Alban Moura & Olivier Pierrard, 2024. "Bayesian Evaluation of DSGE Models with Housing and Collateral Effects," Annals of Economics and Statistics, GENES, issue 155, pages 91-124.
    28. Maik Wolters, 2017. "How the Baby Boomers' Retirement Wave Distorts Model-Based Output Gap Estimates," Jena Economics Research Papers 2017-008, Friedrich-Schiller-University Jena.
    29. Fabio Canova & Filippo Ferroni, 2011. "Multiple filtering devices for the estimation of cyclical DSGE models," Quantitative Economics, Econometric Society, vol. 2(1), pages 73-98, March.
    30. Cristiano Cantore & Filippo Ferroni & Miguel A. León-Ledesma, 2012. "The dynamics of hours worked and technology," Working Papers 1238, Banco de España.
    31. Fève, Patrick & Matheron, Julien & Sahuc, Jean-Guillaume, 2012. "A Pitfall with DSGE-Based, Estimated, Government Spending Multipliers," IDEI Working Papers 708, Institut d'Économie Industrielle (IDEI), Toulouse.
    32. Nora Traum & Shu-Chun Susan Yang, 2010. "Does Government Debt Crowd Out Investment? A Bayesian DSGE Approach: Working Paper 2010-02," Working Papers 21397, Congressional Budget Office.
    33. Peter N. Ireland, 2009. "On the Welfare Cost of Inflation and the Recent Behavior of Money Demand," American Economic Review, American Economic Association, vol. 99(3), pages 1040-1052, June.
    34. Federico S. Mandelman & Francesco Zanetti, 2008. "Estimating general equilibrium models: an application with labour market frictions," Technical Books, Centre for Central Banking Studies, Bank of England, edition 1, number 1, April.
    35. Hideaki Hirata, 2014. "Preference Shocks, International Frictions, and International Business Cycles," Working Paper 164446, Harvard University OpenScholar.
    36. Chaudourne, Jeremy & Fève, Patrick & Guay, Alain, 2014. "Understanding the effect of technology shocks in SVARs with long-run restrictions," Journal of Economic Dynamics and Control, Elsevier, vol. 41(C), pages 154-172.
    37. Peter N. Ireland, 2013. "Stochastic Growth In The United States And Euro Area," Journal of the European Economic Association, European Economic Association, vol. 11(1), pages 1-24, February.
    38. Martial Dupaigne & Patrick Feve & Julien Matheron, 2007. "Technology Shocks, Non-stationary Hours and DSVAR," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 10(2), pages 238-255, April.
    39. Zarazúa Juárez, Carlos Alberto, 2023. "Understanding the natural rate of interest for a small open economy," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 4(3).
    40. Canova, Fabio & Ferroni, Filippo, 2012. "The dynamics of US inflation: Can monetary policy explain the changes?," Journal of Econometrics, Elsevier, vol. 167(1), pages 47-60.
    41. Stefano Neri & Andrea Gerali, 2017. "Natural rates across the Atlantic," Temi di discussione (Economic working papers) 1140, Bank of Italy, Economic Research and International Relations Area.
    42. Francesco Turino, 2009. "Non-price Competition, Real Rigidities and Inflation Dynamics," Working Papers. Serie AD 2009-17, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    43. Haykaz Igityan & Hovhannes Manukyan, 2020. "Fitting Armenian Data to the Simple DSGE Model with Permanent Productivity Growth," Working Papers 14, Central Bank of Armenia.
    44. Alessandro Cantelmo & Nikos Fatouros & Giovanni Melina & Chris Papageorgiou, 2024. "Monetary Policy Under Natural Disaster Shocks," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 65(3), pages 1441-1497, August.
    45. Milan Vyskrabka & Stanislav Tvrz & Martin Zeleznik, 2019. "PreMISE: DSGE Model of the Slovak Economy Integrated in a Monetary Union," Working and Discussion Papers WP 8/2019, Research Department, National Bank of Slovakia.
    46. Zanetti, Francesco, 2008. "Labor and investment frictions in a real business cycle model," Journal of Economic Dynamics and Control, Elsevier, vol. 32(10), pages 3294-3314, October.
    47. Peter N. Ireland & Scott Schuh, 2006. "Productivity and U.S. macroeconomic performance: interpreting the past and predicting the future with a two-sector real business cycle model," Working Papers 06-10, Federal Reserve Bank of Boston.
    48. Gianluca Moretti & Giulio Nicoletti, 2010. "Estimating DSGE models with unknown data persistence," Temi di discussione (Economic working papers) 750, Bank of Italy, Economic Research and International Relations Area.
    49. Franchi, Massimo, 2018. "Testing for cointegration in I(1) state space systems via a finite order approximation," Economics Letters, Elsevier, vol. 165(C), pages 73-76.
    50. Taeyoung Doh, 2009. "Yield curve in an estimated nonlinear macro model," Research Working Paper RWP 09-04, Federal Reserve Bank of Kansas City.
    51. Kim, Bae-Geun, 2010. "Identifying a permanent markup shock and its implications for macroeconomic dynamics," Journal of Economic Dynamics and Control, Elsevier, vol. 34(8), pages 1471-1491, August.
    52. Leonardo Melosi, 2009. "A Likelihood Analysis of Models with Information Frictions," PIER Working Paper Archive 09-009, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    53. Mandelman, Federico S & Zanetti, Francesco, 2010. "Technology shocks, employment and labour market frictions," Bank of England working papers 390, Bank of England.
    54. Fabio Canova & Tobias Menz, 2011. "Does Money Matter in Shaping Domestic Business Cycles? An International Investigation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(4), pages 577-607, June.
    55. Charalampidis, Nikolaos, 2020. "On unemployment cycles in the Euro Area, 1999–2018," European Economic Review, Elsevier, vol. 121(C).
    56. Haykaz Igityan, 2019. "Asymmetric Effects of Monetary Policy in Different Phases of Armenia's Business Cycle," Working Papers 11, Central Bank of Armenia.
    57. Amin, Sakib & Jamasb, Tooraj & Llorca, Manuel & Marsiliani, Laura & Renström, Thomas I. & Sarkar, Agnirup, 2021. "Captive power, market access and macroeconomic performance: Reforming the Bangladesh electricity sector," Energy Economics, Elsevier, vol. 102(C).
    58. Benedetto Molinari & Francesco Turino, 2018. "Advertising and Aggregate Consumption: A Bayesian DSGE Assessment," Economic Journal, Royal Economic Society, vol. 128(613), pages 2106-2130, August.
    59. Luigi Bocola & Nils M. Gornemann, 2013. "Risk, economic growth and the value of U.S. corporations," Working Papers 13-10, Federal Reserve Bank of Philadelphia.
    60. Andreasen Martin M, 2010. "Sufficient Conditions for Finite Objective Functions in DSGE Models with Deterministic and Stochastic Trends," The B.E. Journal of Macroeconomics, De Gruyter, vol. 10(1), pages 1-41, June.
    61. Fuentes-Albero, Cristina, 2007. "Technology Shocks, Statistical Models, and The Great Moderation," MPRA Paper 3589, University Library of Munich, Germany.
    62. Joao Madeira, 2013. "Assessing the empirical relevance of Walrasian labor frictions to business cycle fluctuations," Discussion Papers 1304, University of Exeter, Department of Economics.
    63. Sanha Noh & Ingul Baek, 2022. "What are the Driving Forces of the Economic Downturn in Korea during COVID-19? (Covid-19 Special Issue)," Korean Economic Review, Korean Economic Association, vol. 38, pages 285-322.
    64. Jean-Philippe Cayen & Marc-André Gosselin & Sharon Kozicki, 2009. "Estimating DSGE-Model-Consistent Trends for Use in Forecasting," Staff Working Papers 09-35, Bank of Canada.
    65. Varang Wiriyawit, 2014. "Trend Mis-specifications and Estimated Policy Implications in DSGE Models," ANU Working Papers in Economics and Econometrics 2014-615, Australian National University, College of Business and Economics, School of Economics.
    66. Sergey M. Ivashchenko, 2019. "DSGE Models: Problem of Trends," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 81-95, April.

  30. Yongsung Chang & Sun-Bin Kim, 2004. "Heterogeneity and aggregation in the labor market : implications for aggregate preference shifts," Working Paper 03-17, Federal Reserve Bank of Richmond.

    Cited by:

    1. Richard Rogerson & Johanna Wallenius, 2007. "Micro and Macro Elasticities in a Life Cycle Model With Taxes," NBER Working Papers 13017, National Bureau of Economic Research, Inc.
    2. Takashi Kano & Hafedh Bouakez, 2005. "Learning-by-Doing or Habit Formation?," 2005 Meeting Papers 513, Society for Economic Dynamics.
    3. Richard Rogerson, 2006. "Understanding Differences in Hours Worked," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 9(3), pages 365-409, July.

  31. Yongsung Chang & Andreas Hornstein & Pierre-Daniel G. Sarte, 2004. "Productivity, employment, and inventories," Working Paper 04-09, Federal Reserve Bank of Richmond.

    Cited by:

    1. Yongseung Jung & Tack Yun, 2005. "Monetary policy shocks, inventory dynamics, and price-setting behavior," Working Paper Series 2006-02, Federal Reserve Bank of San Francisco.
    2. Nucci, Francesco & Marchetti, Domenico J., 2006. "Pricing Behaviour and the Response of Hours to Productivity Shocks," CEPR Discussion Papers 5504, C.E.P.R. Discussion Papers.
    3. Yongsung Chang & Jay H. Hong, 2006. "Do Technological Improvements in the Manufacturing Sector Raise or Lower Employment?," American Economic Review, American Economic Association, vol. 96(1), pages 352-368, March.

  32. Yongsung Chang & Jay H. Hong, 2003. "On the employment effect of technology : evidence from U.S. manufacturing for 1958-1996," Working Paper 03-06, Federal Reserve Bank of Richmond.

    Cited by:

    1. Chahnez Boudaya, 2006. "Stage-specific technology shocks and employment: Could we reconcile with the RBC models?," Post-Print halshs-00115791, HAL.
    2. Chahnez Boudaya, 2005. "The effects of technological innovations on employment: a new explanation," Cahiers de la Maison des Sciences Economiques v05013, Université Panthéon-Sorbonne (Paris 1).
    3. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2006. "Productivity, External Balance and Exchange Rates: Evidence on the Transmission Mechanism Among G7 Countries," NBER Working Papers 12483, National Bureau of Economic Research, Inc.
    4. Thomas Philippon & Francesco Franco, 2005. "Firms and Aggregate Dynamics," 2005 Meeting Papers 246, Society for Economic Dynamics.

  33. 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.

    Cited by:

    1. Mankart, Jochen & Oikonomou, Rigas, 2015. "Household search and the aggregate labor market," Discussion Papers 26/2015, Deutsche Bundesbank.
    2. Alois Kneip & Monika Merz & Lidia Storjohann, 2020. "Aggregation and Labor Supply Elasticities [Do Reservation Wages Really Decline? Some International Evidence on the Determinants of Reservation Wages]," Journal of the European Economic Association, European Economic Association, vol. 18(5), pages 2315-2358.
    3. Ali Elminejad & Tomas Havranek & Roman Horvath & Zuzana Irsova, 2023. "Online Appendix to "Intertemporal Substitution in Labor Supply: A Meta-Analysis"," Online Appendices 23-196, Review of Economic Dynamics.
    4. Tomoyuki Nakajima & Shuhei Takahashi, 2016. "Consumption Taxes and Divisibility of Labor under Incomplete Markets," UTokyo Price Project Working Paper Series 065, University of Tokyo, Graduate School of Economics.
    5. Ríos-Rull, José-Víctor & Schorfheide, Frank & Fuentes-Albero, Cristina & Kryshko, Maxym & Santaeulàlia-Llopis, Raül, 2012. "Methods versus substance: Measuring the effects of technology shocks," Journal of Monetary Economics, Elsevier, vol. 59(8), pages 826-846.
    6. François Gourio & Pierre-Alexandre Noual, 2006. "The Marginal Worker and The Aggregate Elasticity of Labor Supply," Boston University - Department of Economics - Working Papers Series WP2006-009, Boston University - Department of Economics.
    7. Sungbae An & Yongsung Chang & Sun-Bin Kim, 2008. "Can a Representative-Agent Model Represent a Heterogeneous-Agent Economy?," Microeconomics Working Papers 22056, East Asian Bureau of Economic Research.
    8. Jeong, Jaehun & Shim, Myungkyu, 2022. "On the welfare cost of business cycles: The role of labor-market heterogeneity," Journal of Macroeconomics, Elsevier, vol. 73(C).
    9. Pedro Brinca & Miguel H. Ferreira & Francesco Franco & Hans A. Holter & Laurence Malafry, 2017. "Fiscal Consolidation Programs and Income Inequality," CEF.UP Working Papers 1703, Universidade do Porto, Faculdade de Economia do Porto.
    10. Remzi Kaygusuz, 2007. "Social Security and Two-Earner Households," 2007 Meeting Papers 677, Society for Economic Dynamics.
    11. Kathrin Ellieroth, 2019. "Spousal Insurance, Precautionary Labor Supply, and the Business Cycle - A Quantitative Analysis," 2019 Meeting Papers 1134, Society for Economic Dynamics.
    12. Chakraborty, Indraneel & Holter, Hans A. & Stepanchuk, Serhiy, 2015. "Marriage stability, taxation and aggregate labor supply in the U.S. vs. Europe," Journal of Monetary Economics, Elsevier, vol. 72(C), pages 1-20.
    13. Park, Hyeon, 2023. "Bounded rationality and optimal retirement age," Journal of Economic Dynamics and Control, Elsevier, vol. 154(C).
    14. Roman Horvath & Ali Elminejad & Tomas Havranek, 2020. "Publication and Identification Biases in Measuring the Intertemporal Substitution of Labor Supply," Working Papers IES 2020/32, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Sep 2020.
    15. Xu, Xiang & Li, David Daokui & Zhao, Mofei, 2018. "“Made in China” matters: Integration of the global labor market and the global labor share decline," China Economic Review, Elsevier, vol. 52(C), pages 16-29.
    16. Chang, Yongsung & Kim, Sun-Bin & Kwon, Kyooho & Rogerson, Richard, 2020. "Cross-sectional and aggregate labor supply," European Economic Review, Elsevier, vol. 126(C).
    17. Marco Del Negro & Frank Schorfheide, 2008. "Forming Priors for DSGE Models (and How it Affects the Assessment of Nominal Rigidities)," NBER Working Papers 13741, National Bureau of Economic Research, Inc.
    18. Minsu Chang & Xiaohong Chen & Frank Schorfheide, 2021. "Heterogeneity and Aggregate Fluctuations," Cowles Foundation Discussion Papers 2289, Cowles Foundation for Research in Economics, Yale University.
    19. Sangyup Choi & Kimoon Jeong & Jiseob Kim, 2024. "Asymmetric Mortgage Channel of Monetary Policy: Refinancing as a Call Option," Working papers 2024rwp-228, Yonsei University, Yonsei Economics Research Institute.
    20. Marco Del Negro & Frank Schorfheide, 2009. "Monetary Policy Analysis with Potentially Misspecified Models," American Economic Review, American Economic Association, vol. 99(4), pages 1415-1450, September.
    21. Henrekson, Magnus & Du Rietz, Gunnar & Waldenström, Daniel, 2012. "Swedish Inheritance and Gift Taxation (1885–2004)," Working Paper Series 936, Research Institute of Industrial Economics, revised 24 Nov 2014.
    22. Richard Rogerson & Johanna Wallenius, 2018. "Household Time Use Among Older Couples: Evidence and Implications for Labor Supply," 2018 Meeting Papers 90, Society for Economic Dynamics.
    23. Yidan Chen & Jiang Lin & David Roland-Holst & Xu Liu & Can Wang, 2023. "Declining Renewable Costs, Emissions Trading, and Economic Growth: China’s Power System at the Crossroads," Energies, MDPI, vol. 16(2), pages 1-14, January.
    24. Richard M. H. Suen, 2012. "Time Preference and the Distribution of Wealth and Income," Working papers 2012-01, University of Connecticut, Department of Economics.
    25. Fatih Guvenen, 2011. "Macroeconomics with hetereogeneity : a practical guide," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 97(3Q), pages 255-326.
    26. Keane, Michael P., 2022. "Recent research on labor supply: Implications for tax and transfer policy," Labour Economics, Elsevier, vol. 77(C).
    27. Elsby, Michael W.L. & Michaels, Ryan, 2019. "Fixed adjustment costs and aggregate fluctuations," Journal of Monetary Economics, Elsevier, vol. 101(C), pages 128-147.
    28. Nakajima, Tomoyuki & Takahashi, Shuhei, 2017. "The optimum quantity of debt for Japan," Journal of the Japanese and International Economies, Elsevier, vol. 46(C), pages 17-26.
    29. Maxym Kryshko & Frank Schorfheide & Keith Sill, 2008. "DSGE model-based forecasting of non-modelled variables," Working Papers 08-17, Federal Reserve Bank of Philadelphia.
    30. Étienne Lalé, 2018. "Labor-market Frictions, Incomplete Insurance and Severance Payments," CIRANO Working Papers 2018s-14, CIRANO.
    31. Shu-Chun Susan Yang, 2007. "Do Capital Income Tax Cuts Trickle Down?," IEAS Working Paper : academic research 07-A005, Institute of Economics, Academia Sinica, Taipei, Taiwan.
    32. Papp, Tamás K. & Reiter, Michael, 2020. "Estimating linearized heterogeneous agent models using panel data," Journal of Economic Dynamics and Control, Elsevier, vol. 115(C).
    33. Jose Mustre-del-Rio, 2011. "The aggregate implications of individual labor supply heterogeneity," Research Working Paper RWP 11-09, Federal Reserve Bank of Kansas City.
    34. Minsu Chang & Frank Schorfheide, 2024. "On the Effects of Monetary Policy Shocks on Income and Consumption Heterogeneity," PIER Working Paper Archive 24-003, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    35. Michael Keane & Timothy Neal, 2021. "2SLS Using Weak Instruments: Implications for Estimating the Frisch Labor Supply Elasticity," Discussion Papers 2021-07, School of Economics, The University of New South Wales.
    36. Yongsung Chang & Taeyoung Doh & Frank Schorfheide, 2007. "Non‐stationary Hours in a DSGE Model," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(6), pages 1357-1373, September.
    37. Alger, Ingela & Cox, Donald, 2012. "The Evolution of Altruistic Preferences: Mothers versus Fathers," IDEI Working Papers 758, Institut d'Économie Industrielle (IDEI), Toulouse, revised May 2013.
    38. Per Krusell & Toshihiko Mukoyama & Aysegul Sahin, 2009. "Labor-Market Matching with Precautionary Savings and Aggregate Fluctuations," NBER Working Papers 15282, National Bureau of Economic Research, Inc.
    39. Schoefer, Benjamin & Mui, Preston, 2019. "Reservation Raises: The Aggregate Labor Supply Curve at the Extensive Margin," CEPR Discussion Papers 14209, C.E.P.R. Discussion Papers.
    40. Moon, Weh-Sol, 2011. "The Business Cycle with Nominal Contracts and Search Frictions," MPRA Paper 57457, University Library of Munich, Germany, revised 21 Jul 2014.
    41. Andrés Erosa & Luisa Fuster & Gueorgui Kambourov, 2011. "Labor supply and government programs: A cross-country analysis," Working Papers 2011-08, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales, revised 19 Oct 2011.
    42. Yongsung Chang & Yena Park, 2017. "Optimal Taxation with Private Insurance," 2017 Meeting Papers 1321, Society for Economic Dynamics.
    43. Attanasio, Orazio & Low, Hamish & Sánchez-Marcos, Virginia & Levell, Peter, 2015. "Aggregating Elasticities: Intensive and Extensive Margins of Female Labour Supply," CEPR Discussion Papers 10732, C.E.P.R. Discussion Papers.
    44. 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.
    45. Kokonas, Nikolaos & Monteiro, Paulo Santos, 2021. "Aggregation in economies with search frictions," Journal of Mathematical Economics, Elsevier, vol. 96(C).
    46. Michael P. Keane & Timothy Neal, 2023. "Robust Inference for the Frisch Labor Supply Elasticity," Opportunity and Inclusive Growth Institute Working Papers 081, Federal Reserve Bank of Minneapolis.
    47. Kartik B. Athreya, 2008. "Credit access, labor supply, and consumer welfare," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 94(Win), pages 17-44.
    48. Youngsoo Jang & Minchul Yum, 2021. "Online Appendix to "Nonlinear Occupations and Female Labor Supply Over Time"," Online Appendices 20-443, Review of Economic Dynamics.
    49. Krusell, Per & Mukoyama, Toshihiko & Rogerson, Richard & Sahin, Aysegül, 2008. "Aggregate implications of indivisible labor, incomplete markets, and labor market frictions," Journal of Monetary Economics, Elsevier, vol. 55(5), pages 961-979, July.
    50. Cecilia Garc√Ça-Pe√Ëalosa & Stephen J. Turnovsky, 2011. "Taxation and Income Distribution Dynamics in a Neoclassical Growth Model," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(8), pages 1543-1577, December.
    51. Roberto M. Samaniego & Juliana Yu Sun, 2019. "Entrepreneurship, College, and Credit: The Golden Triangle," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(7), pages 1765-1813, October.
    52. Timo Boppart & Per Krusell & Jonna Olsson, 2023. "Labor supply when productivity keeps growing," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 50, pages 61-87, October.
    53. Lee, Chul-In, 2008. "On-the-job human capital investment and intertemporal substitution: New evidence on intertemporal substitution elasticity," Journal of Economic Dynamics and Control, Elsevier, vol. 32(10), pages 3350-3375, October.
    54. Nezih Guner & Remzi Kaygusuz & Gustavo Ventura, 2008. "Taxation, aggregates and the household," Working Papers 660, Federal Reserve Bank of Minneapolis.
    55. Marios Karabarbounis, 2012. "Heterogeneity in Labor Supply Elasticity and Optimal Taxation," 2012 Meeting Papers 655, Society for Economic Dynamics.
    56. Choonsung Park, 2020. "Consumption, Reservation Wages, and Aggregate Labor Supply," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 54-80, July.
    57. Eunseong Ma, 2023. "Monetary Policy And Inequality: How Does One Affect The Other?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 64(2), pages 691-725, May.
    58. Bo Hyun Chang & Yongsung Chang & Sun-Bin Kim, 2015. "Pareto Weights in Practice: Income Inequality and Tax reform," RCER Working Papers 590, University of Rochester - Center for Economic Research (RCER).
    59. Haefke, Christian & Reiter, Michael, 2012. "What Do Participation Fluctuations Tell Us About Labor Supply Elasticities?," VfS Annual Conference 2012 (Goettingen): New Approaches and Challenges for the Labor Market of the 21st Century 62055, Verein für Socialpolitik / German Economic Association.
    60. Kudlyak, Marianna & Faia, Ester & Shabalina, Ekaterina, 2021. "Dynamic Labor Reallocation with Heterogeneous Skills and Uninsured Idiosyncratic Risk," CEPR Discussion Papers 16008, C.E.P.R. Discussion Papers.
    61. Juan M. Contreras & Sven H. Sinclair, 2008. "The Labor Supply Response in Macroeconomic Models: Working Paper 2008-07," Working Papers 20141, Congressional Budget Office.
    62. Étienne Lalé, 2022. "Search and Multiple Jobholding," CIRANO Working Papers 2022s-28, CIRANO.
    63. De Paoli, Bianca & Scott, Alasdair & Weeken, Olaf, 2010. "Asset pricing implications of a New Keynesian model," Journal of Economic Dynamics and Control, Elsevier, vol. 34(10), pages 2056-2073, October.
    64. Lars Ljungqvist & Thomas J. Sargent, 2007. "Do Taxes Explain European Employment? Indivisible Labor, Human Capital, Lotteries, and Savings," NBER Chapters, in: NBER Macroeconomics Annual 2006, Volume 21, pages 181-246, National Bureau of Economic Research, Inc.
    65. Richard Rogerson & Johanna Wallenius, 2007. "Micro and Macro Elasticities in a Life Cycle Model With Taxes," NBER Working Papers 13017, National Bureau of Economic Research, Inc.
    66. Bo Hyun Chang & Youngsung Chang & Sun-Bin Kim, 2017. "Pareto Weights in Practice: A Quantitative Analysis Across 32 OECD Countries," LIS Working papers 662, LIS Cross-National Data Center in Luxembourg.
    67. Alexander Bick & Adam Blandin & Richard Rogerson, 2022. "Hours and Wages," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 137(3), pages 1901-1962.
    68. Alan M. Garber & Charles I. Jones & Paul M. Romer, 2006. "Insurance and Incentives for Medical Innovation," NBER Working Papers 12080, National Bureau of Economic Research, Inc.
    69. Michael P Keane & Timothy Neal, 2024. "Robust inference for the Frisch labor supply," IFS Working Papers W24/46, Institute for Fiscal Studies.
    70. Jorge Alonso-Ortiz, 2010. "Social Security and Retirement across the OECD," Working Papers 1007, Centro de Investigacion Economica, ITAM.
    71. Sun-Bin Kim & Richard Rogerson & Yongsung Chang, 2012. "Hours and Employment in the Cross-Section and Over the Cycle," 2012 Meeting Papers 82, Society for Economic Dynamics.
    72. Matthew Cocci & Marco Del Negro & Stefano Eusepi & Marc Giannoni & Raiden B. Hasegawa & M. Henry Linder & Argia M. Sbordone & Andrea Tambalotti, 2013. "The FRBNY DSGE model," Staff Reports 647, Federal Reserve Bank of New York.
    73. Sargent, Thomas & Ljungqvist, Lars, 2007. "Taxes, Benefits, and Careers: Complete Versus Incomplete Markets," CEPR Discussion Papers 6560, C.E.P.R. Discussion Papers.
    74. Minchul Yum, 2024. "Frisch elasticities in a model of indivisible labor supply with endogenous workweek length," Scandinavian Journal of Economics, Wiley Blackwell, vol. 126(1), pages 194-217, January.
    75. Edward C. Prescott & Johanna Wallenius, 2011. "Aggregate labor supply," Staff Report 457, Federal Reserve Bank of Minneapolis.
    76. Per Krusell & Toshihiko Mukoyama & Richard Rogerson & Aysegul Sahin, 2020. "Gross Worker Flows and Fluctuations in the Aggregate Labor Market," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 205-226, August.
    77. Moon, Weh-Sol, 2011. "Endogenous labor force participation and firing costs," Labour Economics, Elsevier, vol. 18(5), pages 607-623, October.
    78. Tutino, Antonella, 2008. "Processing savings and work decisions through Shannon's channels," MPRA Paper 16746, University Library of Munich, Germany, revised 26 Jul 2009.
    79. Tomoyuki Nakajima & Shuhei Takahashi, 2017. "The Effectiveness of Consumption Taxes and Transfers as Insurance against Idiosyncratic Risk," UTokyo Price Project Working Paper Series 074, University of Tokyo, Graduate School of Economics.
    80. Moon, Weh-Sol, 2011. "Business cycle with nominal contracts and search frictions," MPRA Paper 31716, University Library of Munich, Germany.
    81. David Domeij & Martin Floden, 2006. "The Labor-Supply Elasticity and Borrowing Constraints: Why Estimates are Biased," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 9(2), pages 242-262, April.
    82. Niels Arne Dam & Carlos Carvalho, 2009. "Estimating the Cross-sectional Distribution of Price Stickiness from Aggregate Data," 2009 Meeting Papers 702, Society for Economic Dynamics.
    83. Riccardo Fiorito & Giulio Zanella, 2012. "The Anatomy of the Aggregate Labor Supply Elasticity," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 15(2), pages 171-187, April.
    84. Chetty, Nadarajan & Guren, Adam & Manoli, Day & Weber, Andrea, 2013. "Does Indivisible Labor Explain the Difference between Micro and Macro Elasticities? A Meta-Analysis of Extensive Margin Elasticities," Scholarly Articles 27304826, Harvard University Department of Economics.
    85. Daehaeng Kim & Chul-In Lee, 2007. "On-the-Job Human Capital Accumulation in a Real Business Cycle Model: Implications for Intertemporal Substitution Elasticity and Labor Hoarding," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 10(3), pages 494-518, July.
    86. Yonsung Chang & Sun-Bin Kim & Kyooho Kwon, 2012. "Individual and Aggregate Labor Supply in a Heterogeneous Agent Economy with Intensive and Extensive Margins," Working papers 2012rwp-48, Yonsei University, Yonsei Economics Research Institute.
    87. Per Krusell & Toshihiko Mukoyama & Richard Rogerson & Aysegul Sahin, 2015. "Gross Worker Flows over the Business Cycle," Discussion Papers 1530, Centre for Macroeconomics (CFM).
    88. Lee, Jongkwan & Shim, Myungkyu & Yang, Hee-Seung, 2022. "The rise of low-skill service employment: The role of dual-earner households," Journal of Economic Behavior & Organization, Elsevier, vol. 202(C), pages 255-273.
    89. Kim, Minseung & Shim, Myungkyu, 2020. "Variable Effort, Business Cycles, and Economic Welfare," Economics Letters, Elsevier, vol. 196(C).
    90. Bechlioulis, Alexandros P. & Brissimis, Sophocles N., 2021. "Identifying key aspects of household behavior in a representative agent framework," Economic Modelling, Elsevier, vol. 97(C), pages 105-117.
    91. Dmitriev, Alexandre & Roberts, Ivan, 2012. "International business cycles with complete markets," Journal of Economic Dynamics and Control, Elsevier, vol. 36(6), pages 862-875.
    92. Yongsung Chang & Sun-Bin Kim, 2005. "On the aggregate labor supply," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 91(Win), pages 21-37.
    93. Bredemeier, Christian & Juessen, Falko, 2012. "Minimum Wages and Female Labor Supply in Germany," IZA Discussion Papers 6892, Institute of Labor Economics (IZA).
    94. Sun-Bin Kim & Frank Schorfheide & Yongsung Chang, 2010. "Financial Frictions, Aggregation, and the Lucas Critique," 2010 Meeting Papers 31, Society for Economic Dynamics.
    95. Konstantinos Angelopoulos & Spyridon Lazarakis & Jim Malley, 2019. "Savings externalities and wealth inequality," CESifo Working Paper Series 7619, CESifo.
    96. Richard Rogerson & Johanna Wallenius, 2019. "Household Time Use among Older Couples: Evidence and Implications for Labor Supply Parameters," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 134(2), pages 1079-1120.
    97. Eunseong Ma, 2019. "The Heterogeneous Responses of Consumption between Poor and Rich to Government Spending Shocks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(7), pages 1999-2028, October.
    98. Alessandra Casarico & Alessandro Sommacal, 2008. "Labor Income Taxation, Human Capital and Growth: The Role of Child Care," CESifo Working Paper Series 2363, CESifo.
    99. Barbara Annicchiarico & Luisa Corrado & Alessandra Pelloni, 2008. "Volatility, Growth and Labour Elasticity," Working Paper series 32_08, Rimini Centre for Economic Analysis.
    100. Toshihiko Mukoyama & Richard Rogerson & Aysegul Sahin & Per Krusell, 2009. "Labor supply in a frictional labor market," 2009 Meeting Papers 54, Society for Economic Dynamics.
    101. Youngsoo Jang & Minchul Yum, 2020. "Nonlinear Occupations and Female Labor Supply Over Time," CRC TR 224 Discussion Paper Series crctr224_2020_197, University of Bonn and University of Mannheim, Germany.
    102. Barbara Annicchiarico & Luisa Corrado & Alessandra Pelloni, 2011. "Long‐Term Growth And Short‐Term Volatility: The Labour Market Nexus," Manchester School, University of Manchester, vol. 79(s1), pages 646-672, June.
    103. Andrés Erosa & Luisa Fuster & Gueorgui Kambourov, 2016. "Towards a Micro-Founded Theory of Aggregate Labour Supply," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 83(3), pages 1001-1039.
    104. Yongsung Chang & Sun-Bin Kim & Kyooho Kwon & Richard Rogerson, 2011. "Interpreting Labor Supply Regressions in a Model of Full and Part-Time Work," RCER Working Papers 560, University of Rochester - Center for Economic Research (RCER).
    105. Omer Acikgoz, 2014. "Transitional Dynamics and Long-Run Optimal Taxation under Incomplete Markets," 2014 Meeting Papers 990, Society for Economic Dynamics.
    106. Antonio Cutanda & Juan A. Sanchis-Llopis, 2021. "Joint estimation of intertemporal labor and consumption decisions: evidence from Spanish households headed by working men," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 11(4), pages 611-629, December.
    107. Moore, Rachel & Pecoraro, Brandon, 2021. "Quantitative Analysis of a Wealth Tax in the United States: Exclusions, Evasion, and Expenditures," MPRA Paper 109120, University Library of Munich, Germany.
    108. 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.
    109. Lim, Taejun, 2017. "Macroeconomic Effects Of Expansion Of Universal Health Care: The Case Of South Korea," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 58(2), pages 143-161, December.
    110. Sebastian Graves & Victoria Gregory & Lars Ljungqvist & Thomas J. Sargent, 2023. "Time Averaging Meets Labor Supplies of Heckman, Lochner, and Taber," Working Papers 2023-012, Federal Reserve Bank of St. Louis, revised 08 Jan 2025.
    111. Shuhei Takahashi, 2015. "Time-Varying Wage Risk, Incomplete Markets, and Business Cycles," KIER Working Papers 912, Kyoto University, Institute of Economic Research.
    112. Johanna Wallenius & Richard Rogerson, 2012. "Retirement, Home Production and Labor Supply Elasticities," 2012 Meeting Papers 41, Society for Economic Dynamics.
    113. Hubert P. Janicki, 2011. "Distributional Effects of Public Health Insurance Reform," 2011 Meeting Papers 423, Society for Economic Dynamics.
    114. R. Andrew Butters & Marcelo Veracierto, 2009. "Preannounced tax cuts and their potential influence on the 2001 recession," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 33(Q III), pages 44-60.
    115. Moore, Rachel & Pecoraro, Brandon, 2023. "Quantitative analysis of a wealth tax for the United States: Exclusions and expenditures," Journal of Macroeconomics, Elsevier, vol. 78(C).
    116. Céspedes Reynaga, Nikita & Rendon, Silvio, 2012. "The Frisch Elasticity in Labor Markets with High Job Turnover," IZA Discussion Papers 6991, Institute of Labor Economics (IZA).
    117. Acikgoz, Omer, 2015. "Transitional Dynamics and Long-run Optimal Taxation Under Incomplete Markets," MPRA Paper 73380, University Library of Munich, Germany.
    118. Céspedes, Nikita & Rendón, Silvio, 2012. "La elasticidad de oferta laboral de Frisch en economías con alta movilidad laboral," Working Papers 2012-017, Banco Central de Reserva del Perú.
    119. William B. Hawkins & Jose Mustre-del-Rio, 2012. "Financial frictions and occupational mobility," Research Working Paper RWP 12-06, Federal Reserve Bank of Kansas City.
    120. Yongsung Chang & Sun-Bin Kim & Mark Bils, 2007. "Comparative Advantage in Cyclical Unemployment," 2007 Meeting Papers 508, Society for Economic Dynamics.
    121. Richard Rogerson, 2011. "Individual and Aggregate Labor Supply with Coordinated Working Times," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43, pages 7-37, August.
    122. Monika Merz, 2014. "Aggregation and Labor Supply Elasticities," 2014 Meeting Papers 51, Society for Economic Dynamics.
    123. Castex, Gonzalo & Dechter, Evgenia, 2018. "A model of labor supply, fixed costs and work schedules," Journal of Monetary Economics, Elsevier, vol. 95(C), pages 32-48.
    124. Michael Keane & Richard Rogerson, 2015. "Reconciling Micro and Macro Labor Supply Elasticities: A Structural Perspective," Annual Review of Economics, Annual Reviews, vol. 7(1), pages 89-117, August.
    125. Richard Rogerson, 2006. "Understanding Differences in Hours Worked," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 9(3), pages 365-409, July.
    126. Per Krusell & Toshihiko Mukoyama & Richard Rogerson & Aysegul Sahin, 2009. "A Three State Model of Worker Flows in General Equilibrium," NBER Working Papers 15251, National Bureau of Economic Research, Inc.
    127. Jose Mustre-del-Rio, 2014. "Online Appendix to "Wealth and Labor Supply Heterogeneity"," Online Appendices 12-158, Review of Economic Dynamics.
    128. Yum, Minchul, 2018. "On the distribution of wealth and employment," Working Papers 18-03, University of Mannheim, Department of Economics.
    129. Minsu Chang, 2023. "Online Appendix to "Changing Marital Transitions and Homeownership Among Young Households"," Online Appendices 21-30, Review of Economic Dynamics.
    130. Santos Monteiro, Paulo, 2005. "Family labor supply, precautionary behavior, aggregate saving and employment," MPRA Paper 2113, University Library of Munich, Germany, revised Mar 2007.
    131. Selahattin Imrohoroglu & Aise Imrohoroglu, 2005. "Elimination of Social Security in a Dynastic Framework," 2005 Meeting Papers 928, Society for Economic Dynamics.
    132. Contreras, Juan & Sinclair, Sven, 2008. "Labor supply response in macroeconomic models: Assessing the empirical validity of the intertemporal labor supply response from a stochastic overlapping generations model with incomplete markets," MPRA Paper 10533, University Library of Munich, Germany.
    133. Acedański, Jan, 2017. "Heterogeneous expectations and the distribution of wealth," Journal of Macroeconomics, Elsevier, vol. 53(C), pages 162-175.
    134. Jonathan Heathcote & Kjetil Storesletten & Giovanni L. Violante, 2010. "The Macroeconomic Implications of Rising Wage Inequality in the United States," Journal of Political Economy, University of Chicago Press, vol. 118(4), pages 681-722, August.
    135. Eunseoung Ma & Sarah Zubairy, 2020. "Homeownership and Housing Transitions: Explaining the Demographic Composition," Departmental Working Papers 2020-04, Department of Economics, Louisiana State University.
    136. Kim, Jongsoo & Kim, Kwang Hwan & Shim, Myungkyu, 2023. "Are all economic fluctuations bad for consumers?," Journal of Economic Dynamics and Control, Elsevier, vol. 156(C).
    137. Lim, Taejun, 2019. "The Rise of Single-Person Households and the Macroeconomic Consequences," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 60(2), pages 189-198, December.
    138. Young, Eric R., 2010. "Solving the incomplete markets model with aggregate uncertainty using the Krusell-Smith algorithm and non-stochastic simulations," Journal of Economic Dynamics and Control, Elsevier, vol. 34(1), pages 36-41, January.
    139. Yongsung Chang & Sun-Bin Kim, 2010. "The Price of Egalitarianism," RCER Working Papers 558, University of Rochester - Center for Economic Research (RCER).
    140. Nezih Guner & Remzi Kaygusuz & Gustavo Ventura, 2012. "Taxation and Household Labour Supply," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 79(3), pages 1113-1149.
    141. Noh-Sun Kwark & Eunseong Ma, 2016. "Entrepreneurship and Income Distribution Dynamics: Why Are Top Income Earners Unaffected by Business Cycles?," Working Papers 1608, Nam Duck-Woo Economic Research Institute, Sogang University (Former Research Institute for Market Economy).
    142. Eunseong Ma, 2024. "The 40-Hour Work Week," Working papers 2024rwp-225, Yonsei University, Yonsei Economics Research Institute.
    143. Bo Hyun Chang & Yongsung Chang & Sun-Bin Kim, 2018. "Pareto Weights in Practice: A Quantitative Analysis of 32 OECD Countries," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 28, pages 181-204, April.
    144. Yi, Zhen & Zhu, Chao & Zhang, Yuwei, 2024. "Why risk attitude differs between macro and micro level? A decoherence perspective," International Review of Economics & Finance, Elsevier, vol. 92(C), pages 978-997.
    145. Merz, Monika & Kneip, Alois & Storjohann, Lidia, 2013. "Aggregation and Labor Supply Elasticities," CEPR Discussion Papers 9718, C.E.P.R. Discussion Papers.
    146. Per Krusell & Toshihiko Mukoyama & Richard Rogerson & Ayşegül Şahin, 2010. "Aggregate labor market outcomes: The roles of choice and chance," Quantitative Economics, Econometric Society, vol. 1(1), pages 97-127, July.
    147. Etienne Lalé, 2015. "Turbulence and the Employment Experience of Older Workers," Bristol Economics Discussion Papers 15/652, School of Economics, University of Bristol, UK, revised 13 Jul 2016.
    148. Xin Long & Alessandra Pelloni & Robert Waldmann, 2008. "Lump-Sum Taxes in a R&D Model," CEIS Research Paper 120, Tor Vergata University, CEIS, revised 14 Jul 2008.
    149. Mark Bils & Yongsung Chang & Sun-Bin Kim, 2008. "Heterogeneity and Cyclical Unemployment," Discussion Paper Series 0805, Institute of Economic Research, Korea University.
    150. Paulo Santos Monteiro, 2007. "Family Labor Supply, Precautionary Behavior, Aggregate Saving and Employment," 2007 Meeting Papers 180, Society for Economic Dynamics.
    151. Blundell, R. & French, E. & Tetlow, G., 2016. "Retirement Incentives and Labor Supply," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 457-566, Elsevier.
    152. Mark Bils & Yongsung Chang & Sun-Bin Kim, 2011. "Worker Heterogeneity and Endogenous Separations in a Matching Model of Unemployment Fluctuations," American Economic Journal: Macroeconomics, American Economic Association, vol. 3(1), pages 128-154, January.
    153. Santos Monteiro, Paulo, 2008. "Family Labor Supply and Aggregate Saving," The Warwick Economics Research Paper Series (TWERPS) 875, University of Warwick, Department of Economics.
    154. Yongsung Chang & Sun-Bin Kim, 2004. "Heterogeneity and aggregation in the labor market : implications for aggregate preference shifts," Working Paper 03-17, Federal Reserve Bank of Richmond.
    155. Jorge Alonso-Ortiz & Richard Rogerson, 2010. "Taxes, transfers, and employment in an incomplete markets model," FRB Atlanta CQER Working Paper 2010-07, Federal Reserve Bank of Atlanta.
    156. Hans Fehr & Manuel Kallweit & Fabian Kindermann, 2009. "Marital Risk, Family Insurance, and Public Policy," SOEPpapers on Multidisciplinary Panel Data Research 226, DIW Berlin, The German Socio-Economic Panel (SOEP).
    157. Yongsung Chang & Sun-Bin Kim & Frank Schorfheide, 2010. "Labor-Market Heterogeneity, Aggregation, and the Lucas Critique," NBER Working Papers 16401, National Bureau of Economic Research, Inc.
    158. Del Negro, Marco & Eusepi, Stefano, 2011. "Fitting observed inflation expectations," Journal of Economic Dynamics and Control, Elsevier, vol. 35(12), pages 2105-2131.
    159. Minsu Chang, 2019. "A House Without a Ring: The Role of Changing Marital Transitions for Housing Decisions," 2019 Meeting Papers 514, Society for Economic Dynamics.
    160. Michał Gradzewicz & Krzysztof Makarski & Joanna Tyrowicz, 2013. "Do We Really Need to Start From Scratch? Economic Theory on Economic Crises," Working Papers 2013-17, Faculty of Economic Sciences, University of Warsaw.
    161. Hussain, Syed Muhammad, 2015. "The contractionary effects of tax shocks on productivity: An empirical and theoretical analysis," Journal of Macroeconomics, Elsevier, vol. 43(C), pages 93-107.
    162. Tiago Berriel & Rodrigo Abreu, 2015. "Long Term Debt and Credit Crisis in a Liquidity Constrained Economy," Textos para discussão 644, Department of Economics PUC-Rio (Brazil).
    163. Antonio Cutanda & Juan A. Sanchis-Llopis, 2022. "Human capital and the intertemporal substitution for leisure: empirical evidence for Spain," Working Papers 2116, Department of Applied Economics II, Universidad de Valencia.
    164. Acikgoz, Omer, 2013. "Transitional Dynamics and Long-run Optimal Taxation Under Incomplete Markets," MPRA Paper 50160, University Library of Munich, Germany.
    165. Raffo, Andrea, 2008. "Net exports, consumption volatility and international business cycle models," Journal of International Economics, Elsevier, vol. 75(1), pages 14-29, May.
    166. Christian Bredemeier, 2015. "Household Specialization and the Labor-Supply Elasticities of Women and Men," Working Paper Series in Economics 81, University of Cologne, Department of Economics.
    167. Lars Ljungqvist & Thomas J. Sargent, 2011. "A Labor Supply Elasticity Accord?," American Economic Review, American Economic Association, vol. 101(3), pages 487-491, May.
    168. Ismail Baydur & Toshihiko Mukoyama, 2020. "Job Duration and Match Characteristics over the Business Cycle," Working Papers gueconwpa~20-20-01, Georgetown University, Department of Economics.
    169. Giusto, Andrea, 2014. "Adaptive learning and distributional dynamics in an incomplete markets model," Journal of Economic Dynamics and Control, Elsevier, vol. 40(C), pages 317-333.
    170. Lim, Taejun, 2021. "Coverage Expansion of Universal Health Care and its Impacts on Health Insurance Market and Welfare: the Case of South Korea," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 62(2), pages 141-161, December.
    171. Jean‐François Rouillard, 2023. "Credit Crunch and Downward Nominal Wage Rigidities," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(4), pages 889-914, June.
    172. Monteiro, Paulo Santos, 2008. "Family Labor Supply and Aggregate Saving," Economic Research Papers 269886, University of Warwick - Department of Economics.
    173. Robert Amano & Jim Engle-Warnick & Malik Shukayev, 2011. "Price-Level Targeting and Inflation Expectations: Experimental Evidence," Staff Working Papers 11-18, Bank of Canada.
    174. Lars Ljungqvist & Thomas J. Sargent, 2006. "Indivisible Labor and Its Supply Elasticity: Do Taxes Explain European Employment?," 2006 Meeting Papers 734, Society for Economic Dynamics.
    175. Chen, Kuan-Jen & Lai, Ching-Chong & Lai, Ting-Wei, 2016. "The Division of Temporary and Permanent Employment and Business Cycle Fluctuations," MPRA Paper 72078, University Library of Munich, Germany.
    176. Marios Karabarbounis, 2016. "A Road Map for Efficiently Taxing Heterogeneous Agents," American Economic Journal: Macroeconomics, American Economic Association, vol. 8(2), pages 182-214, April.
    177. Antonio Cutanda Tarín, 2019. "Intertemporal substitution in the Spanish economy: Evidence from regional data," Metroeconomica, Wiley Blackwell, vol. 70(1), pages 209-229, February.
    178. Alonso-Ortiz, Jorge, 2013. "Taxes, Transfers and the Macroeconomy," MPRA Paper 49569, University Library of Munich, Germany.
    179. Wouter Denhaan, 2007. "Shocks and the Unavoidable Road to Higher Taxes and Higher Unemployment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 10(3), pages 348-366, July.
    180. Liam Graham & Stephen Wright, 2007. "Information, heterogeneity and market incompleteness in the stochastic growth model," CDMA Conference Paper Series 0704, Centre for Dynamic Macroeconomic Analysis.
    181. Michael Keane & Richard Rogerson, 2012. "Micro and Macro Labor Supply Elasticities: A Reassessment of Conventional Wisdom," Journal of Economic Literature, American Economic Association, vol. 50(2), pages 464-476, June.

  34. Yongsung Chang & Frank Schorfheide, 2003. "Labor supply shifts and economic fluctuations," Working Paper 03-07, Federal Reserve Bank of Richmond.

    Cited by:

    1. L. Rachel Ngai & Christopher A. Pissarides, 2009. "Welfare Policy and the Distribution of Hours of Work," CEP Discussion Papers dp0962, Centre for Economic Performance, LSE.
    2. Koh, Dongya & Santaeulà lia-Llopis, Raül, 2022. "Countercyclical Elasticity of Substitution," CEPR Discussion Papers 17246, C.E.P.R. Discussion Papers.
    3. Marco Del Negro & Frank Schorfheide, 2009. "Monetary Policy Analysis with Potentially Misspecified Models," American Economic Review, American Economic Association, vol. 99(4), pages 1415-1450, September.
    4. Ngai, L. Rachel & Petrongolo, Barbara, 2014. "Gender Gaps and the Rise of the Service Economy," IZA Discussion Papers 8134, Institute of Labor Economics (IZA).
    5. Greenwood,J. & Seshadri,A. & Yorukoglu,M., 2002. "Engines of liberation," Working papers 1, Wisconsin Madison - Social Systems.
    6. Karabarbounis, Loukas, 2010. "Labor wedges and open economy puzzles," MPRA Paper 31370, University Library of Munich, Germany.
    7. Justiniano, Alejandro & Primiceri, Giorgio E. & Tambalotti, Andrea, 2010. "Investment shocks and business cycles," Journal of Monetary Economics, Elsevier, vol. 57(2), pages 132-145, March.
    8. Gehrke, Britta & Yao, Fang, 2016. "Persistence and Volatility of Real Exchange Rates: The Role of Supply Shocks Revisited," VfS Annual Conference 2016 (Augsburg): Demographic Change 145752, Verein für Socialpolitik / German Economic Association.
    9. Aydilek, Asiye, 2016. "The allocation of time and puzzling profiles of the elderly," Economic Modelling, Elsevier, vol. 53(C), pages 515-526.
    10. Claudia Foroni & Francesco Furlanetto, 2022. "Explaining Deviations from Okun’s Law," Working Paper 2022/4, Norges Bank.
    11. Eric Jondeau & Jean-Guillaume Sahuc, 2008. "Optimal Monetary Policy in an Estimated DSGE Model of the Euro Area with Cross-Country Heterogeneity," International Journal of Central Banking, International Journal of Central Banking, vol. 4(2), pages 23-72, June.
    12. Cristina Fuentes-Albero & Maxym Kryshko & José-Víctor Ríos-Rull & Raul Santaeulalia-Llopis & Frank Schorfheide, 2009. "Methods versus substance: measuring the effects of technology shocks on hours," Staff Report 433, Federal Reserve Bank of Minneapolis.
    13. Ngai, L. Rachel & Pissarides, Christopher, 2008. "Trends in hours and economic growth," LSE Research Online Documents on Economics 3828, London School of Economics and Political Science, LSE Library.
    14. Pissarides, Christopher & Ngai, Liwa Rachel, 2011. "Taxes, Social Subsidies and the Allocation of Work Time," CEPR Discussion Papers 8328, C.E.P.R. Discussion Papers.
    15. Richard Rogerson, 2009. "Market Work, Home Work, and Taxes: A Cross‐Country Analysis," Review of International Economics, Wiley Blackwell, vol. 17(3), pages 588-601, August.
    16. Richard Rogerson, 2007. "Structural Transformation and the Deterioration of European Labor Market Outcomes," NBER Working Papers 12889, National Bureau of Economic Research, Inc.
    17. Duval-Hernández, Robert & Fang, Lei & Ngai, L. Rachel, 2023. "Taxes, subsidies, and gender gaps in hours and wages," LSE Research Online Documents on Economics 118061, London School of Economics and Political Science, LSE Library.
    18. Fabio Cerina & Alessio Moro & Michelle Petersen Rendall, 2017. "The role of gender in employment polarization," ECON - Working Papers 250, Department of Economics - University of Zurich.
    19. Ying Feng & David Lagakos & James E. Rauch, 2018. "Unemployment and Development," Working Papers 2018-083, Human Capital and Economic Opportunity Working Group.
    20. Eric Jondeau & Jean-Guillaume Sahuc, 2005. "Testing Heterogeneity within the Euro Area Using a Structural Multi-Country Model," Documents de recherche 05-06, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
    21. Mark A. Aguiar & Erik Hurst & Loukas Karabarbounis, 2011. "Time Use During Recessions," NBER Working Papers 17259, National Bureau of Economic Research, Inc.
    22. Potter, Tristan, 2024. "Destabilizing search technology," Journal of Monetary Economics, Elsevier, vol. 145(C).
    23. S. Boragan Aruoba & Morris A. Davis & Randall Wright, 2012. "Homework in Monetary Economics: Inflation, Home Production, and the Production of Homes," NBER Working Papers 18276, National Bureau of Economic Research, Inc.
    24. Sachs, Dominik & Köhne, Sebastian, 2020. "Pareto-improving reforms of tax deductions," CEPR Discussion Papers 14999, C.E.P.R. Discussion Papers.
    25. Dave, Chetan & Dressler, Scott & Malik, Samreen, 2022. "A Cautionary Tale of Fat Tails," Working Papers 2022-1, University of Alberta, Department of Economics.
    26. Aviv Nevo & Arlene Wong, 2019. "The Elasticity Of Substitution Between Time And Market Goods: Evidence From The Great Recession," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 60(1), pages 25-51, February.
    27. Greenwood, Jeremy & Guner, Nezih, 2008. "Marriage and Divorce since World War II: Analyzing the Role of Technological Progress on the Formation of Households," IZA Discussion Papers 3313, Institute of Labor Economics (IZA).
    28. G. Peersman & R. Straub, 2005. "Technology Shocks and Robust Sign Restrictions in a Euro Area SVAR," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 05/288, Ghent University, Faculty of Economics and Business Administration.
    29. Luca Gambetti & Evi Pappa & Fabio Canova, 2005. "The structural dynamics of US output and inflation: What explains the changes?," Economics Working Papers 921, Department of Economics and Business, Universitat Pompeu Fabra.
    30. Peter N. Ireland, 2009. "On the Welfare Cost of Inflation and the Recent Behavior of Money Demand," American Economic Review, American Economic Association, vol. 99(3), pages 1040-1052, June.
    31. Federico S. Mandelman & Francesco Zanetti, 2008. "Estimating general equilibrium models: an application with labour market frictions," Technical Books, Centre for Central Banking Studies, Bank of England, edition 1, number 1, April.
    32. Karabarbounis, Loukas, 2014. "Home production, labor wedges, and international business cycles," Journal of Monetary Economics, Elsevier, vol. 64(C), pages 68-84.
    33. Rachel Ngai & Lei Fang & Robert Duval Hernandez, 2017. "Taxes and Market Hours -- the Role of Gender and Skill," 2017 Meeting Papers 680, Society for Economic Dynamics.
    34. Alba, Carlos & McKnight, Stephen, 2022. "Laffer curves in emerging market economies: The role of informality," Journal of Macroeconomics, Elsevier, vol. 72(C).
    35. Gehrke, Britta & Yao, Fang, 2014. "Phillips curve shocks and real exchange rate fluctuations: SVAR evidence," FAU Discussion Papers in Economics 11/2014, Friedrich-Alexander University Erlangen-Nuremberg, Institute for Economics.
    36. Kathleen McKiernan, 2021. "Social Security Reform in the Presence of Informality," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 40, pages 228-251, April.
    37. Juan Pablo Medina & Claudio Soto, 2007. "The Chilean Business Cycles Through the Lens of a Stochastic General Equilibrium Model," Working Papers Central Bank of Chile 457, Central Bank of Chile.
    38. Mileva, Mariya, 2013. "Optimal monetary policy in response to shifts in the beveridge curve," Kiel Working Papers 1823, Kiel Institute for the World Economy (IfW Kiel).
    39. Alessandra Casarico & Alessandro Sommacal, 2008. "Labor Income Taxation, Human Capital and Growth: The Role of Child Care," CESifo Working Paper Series 2363, CESifo.
    40. Robert Duval-Hernández & Lei Fang & L. Rachel Ngai, 2018. "Social Subsidies and Marketization – the Role of Gender and Skill," SOEPpapers on Multidisciplinary Panel Data Research 962, DIW Berlin, The German Socio-Economic Panel (SOEP).
    41. Alessio Moro & Satoshi Tanaka, 2019. "Sectoral Shocks and Home Substitution," Discussion Papers Series 602, School of Economics, University of Queensland, Australia.
    42. Kenneth Burdett & Mei Dong & Ling Sun & Randall Wright, 2016. "Marriage, Markets, And Money: A Coasian Theory Of Household Formation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 57(2), pages 337-368, May.
    43. Kotamäki Mauri, 2017. "Laffer Curves and Home Production," Nordic Tax Journal, Sciendo, vol. 2017(1), pages 59-69, January.
    44. Johanna Wallenius & Richard Rogerson, 2012. "Retirement, Home Production and Labor Supply Elasticities," 2012 Meeting Papers 41, Society for Economic Dynamics.
    45. Francesco Furlanetto & Ørjan Robstad, 2017. "Immigration and the macroeconomy: some new empirical evidence," Working Papers 1716, Banco de España.
    46. Lei Fang & Anne Hannusch & Pedro Silos, 2020. "Bundling Time and Goods: Implications for Hours Dispersion," FRB Atlanta Working Paper 2020-1, Federal Reserve Bank of Atlanta.
    47. Fang, Lei & Zhu, Guozhong, 2017. "Time allocation and home production technology," Journal of Economic Dynamics and Control, Elsevier, vol. 78(C), pages 88-101.
    48. Kovalenko, Tim & Töpfer, Marina, 2021. "Cyclical dynamics and the gender pay gap: A structural VAR approach," Economic Modelling, Elsevier, vol. 99(C).
    49. Francesco Furlanetto & Orjan Robstad, 2019. "Online Appendix to "Immigration and the macroeconomy: some new empirical evidence"," Online Appendices 18-245, Review of Economic Dynamics.
    50. Richard Rogerson, 2007. "Taxation and market work: is Scandinavia an outlier?," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 32(1), pages 59-85, July.
    51. Ellen R. McGrattan & Eduard C. Prescott, 2006. "Why Did U.S. Market Hours Boom in the 1990s?," 2006 Meeting Papers 192, Society for Economic Dynamics.
    52. Kathleen McKiernan, 2018. "Welfare Impact of Social Security Reform: The Case of Chile in 1981," 2018 Meeting Papers 253, Society for Economic Dynamics.
    53. Conny Olovsson, 2014. "Optimal taxation with home production," 2014 Meeting Papers 598, Society for Economic Dynamics.
    54. Zanetti, Francesco, 2008. "Labor and investment frictions in a real business cycle model," Journal of Economic Dynamics and Control, Elsevier, vol. 32(10), pages 3294-3314, October.
    55. Kateryna Bornukova, 2015. "Accounting for Labor Productivity Puzzle," BEROC Working Paper Series 26, Belarusian Economic Research and Outreach Center (BEROC).
    56. Alessio Moro & Solmaz Moslehi & Satoshi Tanaka, 2016. "Does home production drive structural transformation?," CAMA Working Papers 2016-19, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    57. Peter N. Ireland & Scott Schuh, 2006. "Productivity and U.S. macroeconomic performance: interpreting the past and predicting the future with a two-sector real business cycle model," Working Papers 06-10, Federal Reserve Bank of Boston.
    58. Gehrke, Britta & Yao, Fang, 2013. "Sources of Real Exchange Rate Fluctuations: The Role of Supply Shocks Revisited," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79821, Verein für Socialpolitik / German Economic Association.
    59. Akbulut, Rahşan, 2011. "Sectoral Changes And The Increase In Women'S Labor Force Participation," Macroeconomic Dynamics, Cambridge University Press, vol. 15(2), pages 240-264, April.
    60. Ellen R. McGrattan & Edward C. Prescott, 2009. "Unmeasured investment and the puzzling U.S. boom in the 1990s," Staff Report 369, Federal Reserve Bank of Minneapolis.
    61. Shirota, Toyoichiro, 2018. "What is the major source of business cycles: Spillovers from land prices, investment shocks, or anything else?," Journal of Macroeconomics, Elsevier, vol. 57(C), pages 138-149.
    62. Gómez, Manuel A., 2016. "Are taxes a good predictor of time use patterns? Examining the role of some key elasticities," Economic Modelling, Elsevier, vol. 55(C), pages 394-400.
    63. Nguyen, Quynh-Nga, 2024. "Intergenerational time transfer, retirement and public pensions," The Journal of the Economics of Ageing, Elsevier, vol. 27(C).
    64. Schorfheide, Frank & An, Sungbae, 2005. "Bayesian Analysis of DSGE Models," CEPR Discussion Papers 5207, C.E.P.R. Discussion Papers.
    65. Pascal Belan & Erwan Moussault, 2019. "Inheritance Taxation in a Model with Intergenerational Time Transfers," Post-Print hal-04271351, HAL.
    66. Stefano Gnocchi & Daniela Hauser & Evi Pappa, 2014. "Housework and Fiscal Expansions," Staff Working Papers 14-34, Bank of Canada.
    67. Mandelman, Federico S & Zanetti, Francesco, 2010. "Technology shocks, employment and labour market frictions," Bank of England working papers 390, Bank of England.
    68. Mark Aguiar & Erik Hurst, 2007. "Life-Cycle Prices and Production," American Economic Review, American Economic Association, vol. 97(5), pages 1533-1559, December.
    69. Mark Aguiar & Erik Hurst, 2005. "Lifestyle prices and production," Public Policy Discussion Paper 05-3, Federal Reserve Bank of Boston.
    70. Nguyen Phuc Canh & Su Dinh Thanh, 2022. "The Dynamics of Export Diversification, Economic Complexity and Economic Growth Cycles: Global Evidence," Foreign Trade Review, , vol. 57(3), pages 234-260, August.
    71. Safonova, Dasha, 2017. "Home production, employment, and monetary policy," The Quarterly Review of Economics and Finance, Elsevier, vol. 64(C), pages 57-66.
    72. Richard Rogerson & Johanna Wallenius, 2009. "Retirement in a Life Cycle Model of Labor Supply with Home Production," Working Papers wp205, University of Michigan, Michigan Retirement Research Center.
    73. Lewis, Vivien & Villa, Stefania, 2023. "Labor productivity, effort and the Euro Area business cycle," CEPR Discussion Papers 18389, C.E.P.R. Discussion Papers.
    74. Mr. Constant A Lonkeng Ngouana, 2012. "Household Production, Services and Monetary Policy," IMF Working Papers 2012/206, International Monetary Fund.
    75. Sevgi Coskun, 2020. "Technology Shocks and Non-stationary Hours in Emerging Countries and DSVAR," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 14(2), pages 129-163, May.
    76. Shirai, Daichi & Nagamachi, Kohei & Eguchi, Naotaka, 2012. "The Impacts of Firms' Technology Choice on the Gender Differences in Wage and Time Allocation: A Cross-Country Analysis," MPRA Paper 56666, University Library of Munich, Germany, revised 13 Jun 2014.
    77. Eric Jondeau & Michael Rockinger, 2019. "Predicting Long‐Term Financial Returns: VAR versus DSGE Model—A Horse Race," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(8), pages 2239-2291, December.
    78. Gary D. Hansen & Lee E. Ohanian, 2016. "Neoclassical Models in Macroeconomics," NBER Working Papers 22122, National Bureau of Economic Research, Inc.

  35. Yongsung Chang & Jaeryang Nam & Changyong Rhee, 2002. "Trends in Unemployment Rates in Korea: A Search-Matching Model Interpretation," Labor and Demography 0204004, University Library of Munich, Germany.

    Cited by:

    1. Luisito Bertinelli & Olivier Cardi & Romain Restout, 2016. "Technical change biased toward the traded sector and labor market frictions," Working Papers of BETA 2016-05, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    2. Sim, Seung-Gyu & Yoo, Dongwoo, 2018. "A quantitative study on endogenous formation of comparative advantage in South Korea," International Review of Economics & Finance, Elsevier, vol. 53(C), pages 71-87.
    3. Grigoryeva, Nadezhda, 2012. "The Problem Of Youth Unemployment in Rural Area," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 4(1), pages 1-10, March.
    4. Ryan Michaels, 2013. "The Joint Dynamics of Capital and Employment at the Plant Level," 2013 Meeting Papers 1189, Society for Economic Dynamics.

  36. Yongsung Chang & Mark Bils, 2002. "Welfare Costs of Sticky Wages When Effort Can Respond," Macroeconomics 0204003, University Library of Munich, Germany.

    Cited by:

    1. Moon, Weh-Sol, 2011. "The Business Cycle with Nominal Contracts and Search Frictions," MPRA Paper 57457, University Library of Munich, Germany, revised 21 Jul 2014.
    2. Yongsung Chang & Mark Bils, 2002. "Cyclical Movements in Hours and Effort under Sticky Wages," Macroeconomics 0204004, University Library of Munich, Germany.
    3. Adrian Masters, 2012. "The value of leisure or disutility of work: Wage dispersion in a model of search with endogenous effort," Discussion Papers 12-07, University at Albany, SUNY, Department of Economics.
    4. Moon, Weh-Sol, 2011. "Business cycle with nominal contracts and search frictions," MPRA Paper 31716, University Library of Munich, Germany.
    5. Kim, Minseung & Shim, Myungkyu, 2020. "Variable Effort, Business Cycles, and Economic Welfare," Economics Letters, Elsevier, vol. 196(C).
    6. Clarida, Richard & Galí, Jordi & Gertler, Mark, 1999. "The Science of Monetary Policy: A New Keynesian Perspective," CEPR Discussion Papers 2139, C.E.P.R. Discussion Papers.
    7. Richard Holt, 2004. "Sticky prices, labour market rigidities and exchange rate puzzles," Money Macro and Finance (MMF) Research Group Conference 2003 47, Money Macro and Finance Research Group.
    8. Matthias Paustian, 2004. "Welfare Effects of Monetary Policy Rules in a Model with Nominal Rigidities and Credit Market Frictions," Econometric Society 2004 Far Eastern Meetings 597, Econometric Society.

  37. Yongsung Chang & Mark Bils, 2002. "Cyclical Movements in Hours and Effort under Sticky Wages," Macroeconomics 0204004, University Library of Munich, Germany.

    Cited by:

    1. Yongsung Chang & Mark Bils, 2002. "Welfare Costs of Sticky Wages When Effort Can Respond," Macroeconomics 0204003, University Library of Munich, Germany.

  38. Gomes, Joao & Chang, Yongsung & Schorfheide, Frank, 2002. "Learning by Doing as a Propagation Mechanism," CEPR Discussion Papers 3599, C.E.P.R. Discussion Papers.

    Cited by:

    1. Tervala, Juha & Watson, Timothy, 2022. "Hysteresis and fiscal stimulus in a recession," Journal of International Money and Finance, Elsevier, vol. 124(C).
    2. Takashi Kano, 2007. "Habit Formation and the Present-Value Model of the Current Account: Yet Another Suspect," CIRJE F-Series CIRJE-F-505, CIRJE, Faculty of Economics, University of Tokyo.
    3. Patrick F?ve & Julien Matheron & Jean-Guillaume Sahuc, 2013. "A Pitfall with Estimated DSGE-Based Government Spending Multipliers," American Economic Journal: Macroeconomics, American Economic Association, vol. 5(4), pages 141-178, October.
    4. Christoph Gortz & Christopher Gunn & Thomas A. Lubik, 2020. "Is There News in Inventories?," Discussion Papers 20-07, Department of Economics, University of Birmingham.
    5. Michał Brzozowski, 2012. "Wpływ wahań produkcji i wielkości kredytu na wartość dodaną w polskim przemyśle przetwórczym," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 5-6, pages 57-77.
    6. Coad, Alex & Daunfeldt, Sven-Olov & Halvarsson, Daniel, 2015. "Bursting into life: Firm growth and growth persistence by age," HUI Working Papers 112, HUI Research.
    7. Toshihiko Mukoyama & Yoonsoo Lee, 2008. "Entry, Exit, and Plant-level Dynamics over the Business Cycle," 2008 Meeting Papers 454, Society for Economic Dynamics.
    8. Sami Alpanda & Adrian Peralta-Alva, 2003. "Oil Crisis, Energy-Saving Technological Change and the Stock Market Crash of 1973-74," Working Papers 0604, University of Miami, Department of Economics, revised Dec 2006.
    9. Mumtaz, Haroon & Theodoridis, Konstantinos, 2020. "Fiscal policy shocks and stock prices in the United States," European Economic Review, Elsevier, vol. 129(C).
    10. Jaccard, Ivan, 2022. "The trade-off between public health and the economy in the early stage of the COVID-19 pandemic," Working Paper Series 2690, European Central Bank.
    11. Marco Del Negro & Frank Schorfheide, 2008. "Forming Priors for DSGE Models (and How it Affects the Assessment of Nominal Rigidities)," NBER Working Papers 13741, National Bureau of Economic Research, Inc.
    12. Benhabib, Jess & Wen, Yi, 2004. "Indeterminacy, aggregate demand, and the real business cycle," Journal of Monetary Economics, Elsevier, vol. 51(3), pages 503-530, April.
    13. Jean-Christophe Poutineau & Gauthier Vermandel, 2015. "Financial Frictions and the Extensive Margin of Activity," Economics Working Paper Archive (University of Rennes & University of Caen) 201510, Center for Research in Economics and Management (CREM), University of Rennes, University of Caen and CNRS.
    14. Philipp Engler & Juha Tervala, 2016. "Hysteresis and Fiscal Policy," Discussion Papers of DIW Berlin 1631, DIW Berlin, German Institute for Economic Research.
    15. Mr. Giovanni Melina & Ms. Susan S. Yang & Luis-Felipe Zanna, 2014. "Debt Sustainability, Public Investment, and Natural Resources in Developing Countries: the DIGNAR Model," IMF Working Papers 2014/050, International Monetary Fund.
    16. Francisco J. Ruge-Murcia, 2004. "Methods to Estimate Dynamic Stochastic General Equilibrium Models," 2004 Meeting Papers 83, Society for Economic Dynamics.
    17. Juha Tervala, 2011. "Learning by Devaluating: A Supply-Side Effect of Competitive Devaluation," Discussion Papers 67, Aboa Centre for Economics.
    18. Cristina Fuentes-Albero & Maxym Kryshko & José-Víctor Ríos-Rull & Raul Santaeulalia-Llopis & Frank Schorfheide, 2009. "Methods versus substance: measuring the effects of technology shocks on hours," Staff Report 433, Federal Reserve Bank of Minneapolis.
    19. Boyan Jovanovic & Julien Prat, 2016. "Reputation Cycles," NBER Working Papers 22703, National Bureau of Economic Research, Inc.
    20. Adam Blandin, 2015. "Disciplining the Human Capital Model: Learning By Doing, Ben-Porath, and Policy Analysis," 2015 Meeting Papers 1147, Society for Economic Dynamics.
    21. Yongsung Chang & Taeyoung Doh & Frank Schorfheide, 2007. "Non‐stationary Hours in a DSGE Model," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(6), pages 1357-1373, September.
    22. Cavallari, Lilia, 2022. "The international real business cycle when demand matters," Journal of Macroeconomics, Elsevier, vol. 73(C).
    23. Hansen, Gary D. & Imrohoroglu, Selahattin, 2009. "Business cycle fluctuations and the life cycle: How important is on-the-job skill accumulation?," Journal of Economic Theory, Elsevier, vol. 144(6), pages 2293-2309, November.
    24. Tsuruga, Takayuki, 2007. "The hump-shaped behavior of inflation and a dynamic externality," European Economic Review, Elsevier, vol. 51(5), pages 1107-1125, July.
    25. Valentina Corradi & Norman Swanson, 2013. "A Survey of Recent Advances in Forecast Accuracy Comparison Testing, with an Extension to Stochastic Dominance," Departmental Working Papers 201309, Rutgers University, Department of Economics.
    26. Eric Jondeau & Jean-Guillaume Sahuc, 2005. "Testing Heterogeneity within the Euro Area Using a Structural Multi-Country Model," Documents de recherche 05-06, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
    27. Guo, Danqiao & Boyle, Phelim & Weng, Chengguo & Wirjanto, Tony, 2019. "Age matters," MPRA Paper 93653, University Library of Munich, Germany, revised 01 May 2019.
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    29. Corradi, Valentina & Swanson, Norman R., 2006. "Predictive density and conditional confidence interval accuracy tests," Journal of Econometrics, Elsevier, vol. 135(1-2), pages 187-228.
    30. Lei Fang & Jun Nie, 2014. "Human capital dynamics and the U.S. labor market," Research Working Paper RWP 13-10, Federal Reserve Bank of Kansas City.
    31. Lechthaler, Wolfgang & Tesfaselassie, Mewael F., 2020. "Endogenous growth, skill obsolescence and output hysteresis in a New Keynesian model with unemployment," Kiel Working Papers 2162, Kiel Institute for the World Economy (IfW Kiel).
    32. James M. Nason & Takashi Kano, 2004. "Business Cycle Implications of Habit Formation," Computing in Economics and Finance 2004 175, Society for Computational Economics.
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    40. Alok Johri, 2007. "Delivering Endogenous Inertia in Prices and Output," Department of Economics Working Papers 2007-04, McMaster University.
    41. Shirai, Daichi, 2016. "Persistence and Amplification of Financial Frictions," MPRA Paper 72187, University Library of Munich, Germany.
    42. Karel Mertens & Morten O. Ravn, 2010. "Technology-Hours Redux: Tax Changes and the Measurement of Technology Shocks," NBER Chapters, in: NBER International Seminar on Macroeconomics 2010, pages 41-76, National Bureau of Economic Research, Inc.
    43. Ambler, Steve & Bouakez, Hafedh & Cardia, Emanuela, 2017. "Does the crowding-in effect of public spending on private consumption undermine neoclassical models?," Research in Economics, Elsevier, vol. 71(3), pages 399-410.
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    45. Gary D. Hansen, "undated". "Business Cycle Fluctuations and the Life Cycle: How Important is Learning by Doing? (with Selo Imrohoroglu)," UCLA Economics Online Papers 421, UCLA Department of Economics.
    46. William Peterman, 2012. "The Effect of Endogenous Human Capital Accumulation on Optimal Taxation," 2012 Meeting Papers 204, Society for Economic Dynamics.
    47. Guillermo Felices & David Tinsley, 2004. "Intertemporal substitution and household production in labour supply," Bank of England working papers 234, Bank of England.
    48. Shao, Shuai & Yang, Zhenbing & Xu, Le & Yang, Lili, 2024. "Environmental protection experience of secretaries and effectiveness of environmental governance: Evidence from COD discharge in China," Journal of Economic Behavior & Organization, Elsevier, vol. 220(C), pages 237-253.
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    59. Stefano Neri & Andrea Gerali, 2017. "Natural rates across the Atlantic," Temi di discussione (Economic working papers) 1140, Bank of Italy, Economic Research and International Relations Area.
    60. Norman Swanson & Oleg Korenok, 2006. "The Incremental Predictive Information Associated with Using Theoretical New Keynesian DSGE Models Versus Simple Linear Alternatives," Departmental Working Papers 200615, Rutgers University, Department of Economics.
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    64. Iman Cheratian & Saleh Goltabar & Mohammad Reza Farzanegan, 2022. "Survival Strategies Under Sanctions: Firm-Level Evidence from Iran," Working Papers 1569, Economic Research Forum, revised 20 Aug 2022.
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    66. William B. Peterman, 2015. "Taxing Capital? The Importance of How Human Capital is Accumulated," Finance and Economics Discussion Series 2015-117, Board of Governors of the Federal Reserve System (U.S.).
    67. Lewis, Vivien & Stevens, Arnoud, 2012. "The competition effect in business cycles," IMFS Working Paper Series 51, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
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    69. Alok Johri & Muhebullah Karimzada, 2016. "Learning Efficiency Shocks, Knowledge Capital and the Business Cycle: A Bayesian Evaluation," Department of Economics Working Papers 2016-11, McMaster University.
    70. Christoph Görtz & Christopher Gunn & Thomas Lubik, 2018. "Taking Stock of TFP News Shocks: The Inventory Comovement Puzzle," Carleton Economic Papers 18-05, Carleton University, Department of Economics, revised 14 Jul 2018.
    71. Coad, Alex & Segarra, Agustí & Teruel, Mercedes, 2013. "Like milk or wine: Does firm performance improve with age?," Structural Change and Economic Dynamics, Elsevier, vol. 24(C), pages 173-189.
    72. Adrian Peralta Alva & Sami Alpanda, 2003. "Oil crisis, Energy Saving Technological Change, and the Stock Market Collapse of 1974," Macroeconomics 0307007, University Library of Munich, Germany.
    73. Cosmin L. Ilut & Hikaru Saijo, 2016. "Learning, Confidence, and Business Cycles," NBER Working Papers 22958, National Bureau of Economic Research, Inc.
    74. Marco Battaglini & Levon Barseghyan, 2015. "Political Economy of Debt and Growth," NBER Working Papers 21660, National Bureau of Economic Research, Inc.
    75. Lee, Yoonsoo & Mukoyama, Toshihiko, 2018. "A model of entry, exit, and plant-level dynamics over the business cycle," Journal of Economic Dynamics and Control, Elsevier, vol. 96(C), pages 1-25.
    76. Bernard Kwamena Cobbina Essel & Faizal Adams & Kwadwo Amankwah, 2019. "Effect of entrepreneur, firm, and institutional characteristics on small-scale firm performance in Ghana," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 9(1), pages 1-20, December.
    77. Laura Liu & Mikkel Plagborg-M?ller, 2021. "Full-Information Estimation of Heterogeneous Agent Models Using Macro and Micro Data," CAEPR Working Papers 2021-001 Classification- , Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    78. Alok Johri & Amartya Lahiri, 2008. "Persistent Real Exchange Rates," Department of Economics Working Papers 2008-04, McMaster University.
    79. Christoph Görtz & Christopher Gunn & Thomas A. Lubik, 2024. "The Changing Nature of Technology Shocks," CESifo Working Paper Series 11385, CESifo.
    80. Smets, Frank & Wouters, Rafael, 2007. "Shocks and Frictions in US Business Cycles: A Bayesian DSGE Approach," CEPR Discussion Papers 6112, C.E.P.R. Discussion Papers.
    81. Laura Liu & Mikkel Plagborg‐Møller, 2023. "Full‐information estimation of heterogeneous agent models using macro and micro data," Quantitative Economics, Econometric Society, vol. 14(1), pages 1-35, January.
    82. Jongsuk Han, 2013. "Cyclical Employment and Learning Ability," 2013 Meeting Papers 1022, Society for Economic Dynamics.
    83. Daichi Shirai, 2014. "A note on hump-shaped output in the RBC model," CIGS Working Paper Series 14-009E, The Canon Institute for Global Studies.
    84. Jørgensen, Peter L. & Ravn, Søren H., 2022. "The inflation response to government spending shocks: A fiscal price puzzle?," European Economic Review, Elsevier, vol. 141(C).
    85. Tervala, Juha, 2021. "Hysteresis and the welfare costs of recessions," Economic Modelling, Elsevier, vol. 95(C), pages 136-144.
    86. Levon Barseghyan & Marco Battaglini, 2012. "Growth and fiscal policy: a positive theory," Working Papers 1418, Princeton University, Department of Economics, Econometric Research Program..
    87. Iman Cheratian & Saleh Goltabar & Mohammad Reza Farzanegan, 2023. "Firms persistence under sanctions: Micro‐level evidence from Iran," The World Economy, Wiley Blackwell, vol. 46(8), pages 2408-2431, August.
    88. Oleg Korenok & Norman R. Swanson, 2007. "How Sticky Is Sticky Enough? A Distributional and Impulse Response Analysis of New Keynesian DSGE Models," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(6), pages 1481-1508, September.
    89. Conesa, Juan Carlos & Li, Bo & Li, Qian, 2023. "A quantitative evaluation of universal basic income," Journal of Public Economics, Elsevier, vol. 223(C).
    90. Valentina Corradi & Norman R. Swanson, 2003. "A Test for Comparing Multiple Misspecified Conditional Distributions," Departmental Working Papers 200314, Rutgers University, Department of Economics.
    91. Schorfheide, Frank & An, Sungbae, 2005. "Bayesian Analysis of DSGE Models," CEPR Discussion Papers 5207, C.E.P.R. Discussion Papers.
    92. Lewis, Vivien & Stevens, Arnoud, 2015. "Entry and markup dynamics in an estimated business cycle model," European Economic Review, Elsevier, vol. 74(C), pages 14-35.
    93. Felipe Alves & Giovanni L. Violante, 2024. "From Micro to Macro Hysteresis: Long-Run Effects of Monetary Policy," Staff Working Papers 24-39, Bank of Canada.
    94. Chase Coleman & Kerk L. Phillips, 2014. "Business Cycle Persistence in a Model with Schumpeterian Growth and Uncorrelated Shocks," BYU Macroeconomics and Computational Laboratory Working Paper Series 2014-01, Brigham Young University, Department of Economics, BYU Macroeconomics and Computational Laboratory.
    95. Talukdar Bidyut, 2014. "Organizational learning and optimal fiscal and monetary policy," The B.E. Journal of Macroeconomics, De Gruyter, vol. 14(1), pages 445-475, January.
    96. Norman Swanson & Oleg Korenok, 2006. "How Sticky Is Sticky Enough? A Distributional and Impulse Response Analysis of New Keynesian DSGE Models. Extended Working Paper Version," Departmental Working Papers 200612, Rutgers University, Department of Economics.
    97. Thomas A. Lubik & Frank Schorfheide, 2007. "Testing for Indeterminacy: An Application to U.S. Monetary Policy: Reply," American Economic Review, American Economic Association, vol. 97(1), pages 530-533, March.
    98. Ross Doppelt, 2019. "Skill Flows: A Theory of Human Capital and Unemployment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 31, pages 84-122, January.
    99. Heer Burkhard & Maußner Alfred, 2013. "Asset Returns, the Business Cycle and the Labor Market," German Economic Review, De Gruyter, vol. 14(3), pages 372-397, August.
    100. Haejun Jeon, 2023. "Time-to-build and capacity expansion," Annals of Operations Research, Springer, vol. 328(2), pages 1461-1494, September.
    101. Laure Simon, 2023. "Fiscal Stimulus and Skill Accumulation over the Life Cycle," Staff Working Papers 23-9, Bank of Canada.
    102. Jaccard, Ivan, 2013. "Liquidity constraints, risk premia, and themacroeconomic effects of liquidity shocks," Working Paper Series 1525, European Central Bank.
    103. Johri, Alok & Letendre, Marc-Andre, 2007. "What do `residuals' from first-order conditions reveal about DGE models?," Journal of Economic Dynamics and Control, Elsevier, vol. 31(8), pages 2744-2773, August.
    104. Yao, Fang, 2008. "Lumpy labor adjustment as a propagation mechanism of business cycles," SFB 649 Discussion Papers 2008-022, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    105. Khalifa, Sherif, 2015. "Learning-by-doing and unemployment dynamics," Economic Modelling, Elsevier, vol. 44(C), pages 180-187.
    106. Paul Levine & Joseph Pearlman & Bo Yang, 2012. "Imperfect Information, Optimal Monetary Policy and Informational Consistency," School of Economics Discussion Papers 1012, School of Economics, University of Surrey.
    107. Blandin, Adam, 2018. "Learning by Doing and Ben-Porath: Life-cycle Predictions and Policy Implications," Journal of Economic Dynamics and Control, Elsevier, vol. 90(C), pages 220-235.
    108. Hussain, Syed Muhammad, 2015. "The contractionary effects of tax shocks on productivity: An empirical and theoretical analysis," Journal of Macroeconomics, Elsevier, vol. 43(C), pages 93-107.
    109. Villa, Stefania & Yang, Jing, 2011. "Financial intermediaries in an estimated DSGE model for the United Kingdom," Bank of England working papers 431, Bank of England.
    110. Marianna Riggi & Massimiliano Tancioni, 2008. "Nominal v. Real Wage Rigidities in New Keynesian Models with Hiring Costs," Working Papers in Public Economics 107, Department of Economics and Law, Sapienza University of Roma.
    111. Malik, Kashif Zaheer & Ali, Syed Zahid & Khalid, Ahmed M., 2014. "Intangible capital in a real business cycle model," Economic Modelling, Elsevier, vol. 39(C), pages 32-48.
    112. Fernando Cirelli & Mark Gertler, 2022. "Economic Winners Versus Losers and the Unequal Pandemic Recession," NBER Working Papers 29713, National Bureau of Economic Research, Inc.
    113. Alok Johri & Christopher Gunn, 2009. "News and knowledge capital," 2009 Meeting Papers 763, Society for Economic Dynamics.
    114. Lechthaler, Wolfgang & Tesfaselassie, Mewael F., 2021. "Endogenous growth, skill obsolescence and fiscal multipliers," Kiel Working Papers 2184, Kiel Institute for the World Economy (IfW Kiel).
    115. Kegiang Hou & Alok Johri, 2013. "Intangible Capital and the Excess Volatility of Aggregate Profits," Department of Economics Working Papers 2013-04, McMaster University.
    116. Takashi Kano, 2008. "Habit Formation and the Present-Value Model of the Current Account: Yet Another Suspect ( Revised version of CARF-F-101(2007); Revised version subsequently published in "Journal of International ," CARF F-Series CARF-F-124, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    117. Akihiko Ikeda, 2020. "Learning-by-doing and business cycles in emerging economies," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 156(3), pages 611-631, August.
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    120. Alok Johri, 2005. "Learning-by-doing and Endogenous Price-level Inertia," Department of Economics Working Papers 2005-02, McMaster University.
    121. Burkhard Heer & Alfred Maussner, 2011. "Asset Returns, the Business Cycle, and the Labor Market: A Sensitivity Analysis for the German Economy," CESifo Working Paper Series 3391, CESifo.
    122. John C. Ham & Kevin T. Reilly, 2013. "Implicit Contracts, Life Cycle Labor Supply, And Intertemporal Substitution," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 54(4), pages 1133-1158, November.

  39. Yongsung Chang & Joao Gomes & Frank Schorfheide, 2000. "Persistence," Econometric Society World Congress 2000 Contributed Papers 1632, Econometric Society.

    Cited by:

    1. Claudio Morana & Giacomo Sbrana, 2018. "Some financial implications of global warming: An empirical assessment," Working Paper series 18-09, Rimini Centre for Economic Analysis.
    2. Kevin L. Reffett & Frank Schorfheide, 2000. "Evaluating Asset Pricing Implications of DSGE Models," Econometric Society World Congress 2000 Contributed Papers 1630, Econometric Society.
    3. Wendt, Minh & Kinsey, Jean D., 2009. "Childhood Overweight and School Outcomes," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49347, Agricultural and Applied Economics Association.

  40. Yongsung Chang & Noh-Sun Kwark, 2000. "Decomposition of Hours Based on Extensive and Intensive Margins of Labor," Econometric Society World Congress 2000 Contributed Papers 1416, Econometric Society.

    Cited by:

    1. Temel Taskin, 2013. "Intensive margin and extensive margin adjustments of labor market: Turkey versus United States," Economics Bulletin, AccessEcon, vol. 33(3), pages 2307-2319.
    2. Petri Böckerman & Markus Jäntti, 2005. "Is Variation in Hours of Work Driven by Supply or Demand? Evidence from Finnish Manufacturing Industries," Labor and Demography 0505012, University Library of Munich, Germany.
    3. Yongsung Chang & Joao Gomes & Frank Schorfheide, 2000. "Persistence," Econometric Society World Congress 2000 Contributed Papers 1632, Econometric Society.
    4. Jens Larsen & Katharine Neiss & Fergal Shortall, 2002. "Factor utilisation and productivity estimates for the United Kingdom," Bank of England working papers 162, Bank of England.

  41. Mark Bils & Yongsung Chang, 1999. "Wages and the Allocation of Hours and Effort," NBER Working Papers 7309, National Bureau of Economic Research, Inc.

    Cited by:

    1. Galeotti, Marzio & Maccini, Louis J. & Schiantarelli, Fabio, 2005. "Inventories, employment and hours," Journal of Monetary Economics, Elsevier, vol. 52(3), pages 575-600, April.
    2. Jinill Kim & Sunghyun Henry Kim, 1999. "Spurious Welfare Reversals in International Business Cycle Models," Virginia Economics Online Papers 319, University of Virginia, Department of Economics.
    3. Jinill Kim & Sunghyun Henry Kim, 1999. "Inaccuracy of Loglinear Approximation in Welfare Calculations: the Case of International Risk Sharing," Computing in Economics and Finance 1999 251, Society for Computational Economics.
    4. Jean-Pierre Danthine & André Kurmann, 2003. "Fair Wages in a New Keynesian Model of the Business Cycle," Cahiers de recherche 0320, CIRPEE.

  42. Mark Bils & Yongsung Chang, 1999. "Understanding How Price Responds to Costs and Production," NBER Working Papers 7311, National Bureau of Economic Research, Inc.

    Cited by:

    1. Toshihiko Mukoyama & Yoonsoo Lee, 2008. "Entry, Exit, and Plant-level Dynamics over the Business Cycle," 2008 Meeting Papers 454, Society for Economic Dynamics.
    2. Bobeica, Elena & Ciccarelli, Matteo & Vansteenkiste, Isabel, 2019. "The link between labor cost and price inflation in the euro area," Working Paper Series 2235, European Central Bank.
    3. Eugenio Gaiotti & Alessandro Secchi, 2004. "Is there a cost channel of monetary policy transmission? An investigation into the pricing behavior of 2,000 firms," Macroeconomics 0412010, University Library of Munich, Germany.
    4. Matteo Bugamelli & Silvia Fabiani & Enrico Sette, "undated". "The age of the dragon: Chinese competition and the pricing behavior of the Italian firms," Working Papers 4, Department of the Treasury, Ministry of the Economy and of Finance.
    5. Rui CASTRO & Gian Luca CLEMENTI & Yoonsoo LEE, 2014. "Cross–Sectoral Variation in The Volatility of Plant–Level Idiosyncratic Shocks," Cahiers de recherche 15r-2010, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    6. Ioana A. Duca & José M. Montero & Marianna Riggi & Roberta Zizza, 2017. "I will survive. Pricing strategies of financially distressed firms," Temi di discussione (Economic working papers) 1106, Bank of Italy, Economic Research and International Relations Area.
    7. Virgiliu Midrigan, 2010. "Is Firm Pricing State or Time Dependent? Evidence from U.S. Manufacturing," The Review of Economics and Statistics, MIT Press, vol. 92(3), pages 643-656, August.
    8. Reiff, Adam & Karadi, Peter, 2014. "Menu Costs, Aggregate Fluctuations, and Large Shocks," CEPR Discussion Papers 10138, C.E.P.R. Discussion Papers.
    9. Yoonsoo Lee, 2005. "The importance of reallocations in cyclical productivity and returns to scale: evidence from plant-level data," Working Papers (Old Series) 0509, Federal Reserve Bank of Cleveland.
    10. Pedro S. Amaral & James C. MacGee, 2012. "Re-Examining the Role of Sticky Wages in the U.S. Great Contraction: A Multi-sector Approach," University of Western Ontario, Economic Policy Research Institute Working Papers 20125, University of Western Ontario, Economic Policy Research Institute.
    11. Robert E. Hall, 2009. "By How Much Does GDP Rise if the Government Buys More Output?," NBER Working Papers 15496, National Bureau of Economic Research, Inc.
    12. Erol, Turan, 2005. "Corporate debt and output pricing in developing countries: Industry-level evidence from Turkey," Journal of Development Economics, Elsevier, vol. 76(2), pages 503-520, April.
    13. Olivier J. Blanchard, 2008. "The State of Macro," NBER Working Papers 14259, National Bureau of Economic Research, Inc.
    14. Lundin, Magnus & Gottfries, Nils & Lindström, Tomas, 2004. "Price and Investment Dynamics: An Empirical Analysis of Plant Level Data," Working Paper Series 2004:7, Uppsala University, Department of Economics.
    15. Saygın Şahinöz & Bedriye Saraçoğlu, 2011. "How do firms adjust their prices in Turkey? Micro-level evidence," Empirical Economics, Springer, vol. 40(3), pages 601-621, May.
    16. Matteo Bugamelli & Silvia Fabiani & Enrico Sette, 2015. "The Age of the Dragon: The Effect of Imports from China on Firm‐Level Prices," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(6), pages 1091-1118, September.
    17. CASTRO, Rui & CLEMENTI, Gian Luca & LEE, Yoonsoo, 2010. "Cross-Sectoral Variation in Firm-Level Idiosyncratic Risk," Cahiers de recherche 15-2010, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    18. Yash P. Mehra, 2004. "The output gap, expected future inflation and inflation dynamics: another look," Working Paper 04-06, Federal Reserve Bank of Richmond.
    19. Magnus Lundin & Nils Gottfries & Charlotte Bucht & Tomas Lindström, 2009. "Price and Investment Dynamics: Theory and Plant‐Level Data," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(5), pages 907-934, August.
    20. Faiz ur, rehman & Wasim, shahid malik, 2010. "A structural VAR (SVAR) approach to cost channel of monetary policy," MPRA Paper 32349, University Library of Munich, Germany, revised 09 Feb 2011.
    21. Banerjee, Anindya & Russell, Bill, 2005. "Inflation and measures of the markup," Journal of Macroeconomics, Elsevier, vol. 27(2), pages 289-306, June.
    22. Matteo Bugamelli & Silvia Fabiani & Enrico Sette, 2010. "The pro-competitive effect of imports from China: an analysis of firm-level price data," Temi di discussione (Economic working papers) 737, Bank of Italy, Economic Research and International Relations Area.
    23. Krogscheepers, Corris & Gossel, Sean Joss, 2015. "Input cost and international demand effects on the production of platinum group metals in South Africa," Resources Policy, Elsevier, vol. 45(C), pages 193-201.
    24. Erol, Turan, 2003. "Capital structure and output pricing in a developing country," Economics Letters, Elsevier, vol. 78(1), pages 109-115, January.
    25. Yash P. Mehra, 2004. "Predicting the recent behavior of inflation using output gap-based Phillips curves," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 90(Sum), pages 65-88.
    26. Amaral, Pedro S. & MacGee, James C., 2017. "Monetary shocks and sticky wages in the U.S. great contraction: A multi-sector approach," Journal of Monetary Economics, Elsevier, vol. 92(C), pages 112-129.
    27. Banerjee, Anindya & Russell, Bill, 2004. "A reinvestigation of the markup and the business cycle," Economic Modelling, Elsevier, vol. 21(2), pages 267-284, March.

Articles

  1. Yongsung Chang & Jay Hong & Marios Karabarbounis & Yicheng Wang & Tao Zhang, 2022. "Income Volatility and Portfolio Choices," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 44, pages 65-90, April.
    See citations under working paper version above.
  2. Mark Bils & Yongsung Chang & Sun-Bin Kim, 2022. "How Sticky Wages in Existing Jobs Can Affect Hiring," American Economic Journal: Macroeconomics, American Economic Association, vol. 14(1), pages 1-37, January.
    See citations under working paper version above.
  3. Yongsung Chang & Yena Park, 2021. "Optimal Taxation with Private Insurance [Uninsured Idiosyncratic Risk and Aggregate Saving]," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(6), pages 2766-2798.
    See citations under working paper version above.
  4. Chang, Yongsung & Kim, Sun-Bin & Kwon, Kyooho & Rogerson, Richard, 2020. "Cross-sectional and aggregate labor supply," European Economic Review, Elsevier, vol. 126(C).
    See citations under working paper version above.
  5. Yongsung Chang & Sun‐Bin Kim & Kyooho Kwon & Richard Rogerson, 2019. "2018 Klein Lecture: Individual And Aggregate Labor Supply In Heterogeneous Agent Economies With Intensive And Extensive Margins," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 60(1), pages 3-24, February.

    Cited by:

    1. Ali Elminejad & Tomas Havranek & Roman Horvath & Zuzana Irsova, 2023. "Online Appendix to "Intertemporal Substitution in Labor Supply: A Meta-Analysis"," Online Appendices 23-196, Review of Economic Dynamics.
    2. Jeong, Jaehun & Shim, Myungkyu, 2022. "On the welfare cost of business cycles: The role of labor-market heterogeneity," Journal of Macroeconomics, Elsevier, vol. 73(C).
    3. Roman Horvath & Ali Elminejad & Tomas Havranek, 2020. "Publication and Identification Biases in Measuring the Intertemporal Substitution of Labor Supply," Working Papers IES 2020/32, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Sep 2020.
    4. Chang, Yongsung & Kim, Sun-Bin & Kwon, Kyooho & Rogerson, Richard, 2020. "Cross-sectional and aggregate labor supply," European Economic Review, Elsevier, vol. 126(C).
    5. Minsu Chang & Xiaohong Chen & Frank Schorfheide, 2021. "Heterogeneity and Aggregate Fluctuations," Cowles Foundation Discussion Papers 2289, Cowles Foundation for Research in Economics, Yale University.
    6. Maliar, Lilia & Maliar, Serguei, 2022. "Deep learning classification: Modeling discrete labor choice," Journal of Economic Dynamics and Control, Elsevier, vol. 135(C).
    7. Eunseong Ma & Daeha Cho, 2022. "The Heterogeneous Welfare Effects of Business Cycles," Working papers 2022rwp-204, Yonsei University, Yonsei Economics Research Institute.
    8. Timo Boppart & Per Krusell & Jonna Olsson, 2023. "Labor supply when productivity keeps growing," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 50, pages 61-87, October.
    9. Andre Luduvice, 2021. "The Macroeconomic Effects of Universal Basic Income Programs," Working Papers 21-21, Federal Reserve Bank of Cleveland.
    10. Étienne Lalé, 2022. "Search and Multiple Jobholding," CIRANO Working Papers 2022s-28, CIRANO.
    11. Alexander Bick & Adam Blandin & Richard Rogerson, 2022. "Hours and Wages," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 137(3), pages 1901-1962.
    12. Danilo Stojanovic, 2022. "The 2003 Tax Reform and Corporate Payout Policy in the US," CERGE-EI Working Papers wp727, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    13. Minchul Yum, 2024. "Frisch elasticities in a model of indivisible labor supply with endogenous workweek length," Scandinavian Journal of Economics, Wiley Blackwell, vol. 126(1), pages 194-217, January.
    14. Froemel, M. & Gottlieb, C., 2016. "The Earned Income Tax Credit: Targeting the Poor but Crowding Out Wealth," Cambridge Working Papers in Economics 1651, Faculty of Economics, University of Cambridge.

  6. Yongsung Chang & Jay H. Hong & Marios Karabarbounis, 2018. "Labor Market Uncertainty and Portfolio Choice Puzzles," American Economic Journal: Macroeconomics, American Economic Association, vol. 10(2), pages 222-262, April.
    See citations under working paper version above.
  7. Bo Hyun Chang & Yongsung Chang & Sun-Bin Kim, 2018. "Pareto Weights in Practice: A Quantitative Analysis of 32 OECD Countries," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 28, pages 181-204, April.

    Cited by:

    1. LIM, Taejun & KIM, Aram, 2023. "How Progressive Is the Most Popular Tax Scheme? The Case of South Korea," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 64(1), pages 1-17, June.
    2. Paloma Péligry & Xavier Ragot, 2023. "Evolution of fiscal systems: Convergence or divergence?," Post-Print hal-04384035, HAL.
    3. Alexis Anagnostopoulos & Eva Carceles‐Poveda & Yair Tauman, 2021. "Value Preserving Welfare Weights For Social Optimization Problems," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 62(4), pages 1627-1653, November.
    4. Alexis Anagnostopoulos & Eva Carceles-Poveda & Yair Tauman, 2018. "Value Preserving Welfare Weights for Social Optimization," Department of Economics Working Papers 18-08, Stony Brook University, Department of Economics.
    5. Eunseong Ma, 2019. "The Heterogeneous Responses of Consumption between Poor and Rich to Government Spending Shocks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(7), pages 1999-2028, October.
    6. Alexander Bick & Nicola Fuchs-Schündeln & David Lagakos & Hitoshi Tsujiyama, 2021. "Structural Change in Labor Supply and Cross-Country Differences in Hours Worked," NBER Working Papers 29099, National Bureau of Economic Research, Inc.
    7. Marius Clemens & Stefan Gebauer & Tobias König, 2020. "The Macroeconomic Effects of a European Deposit (Re-) Insurance Scheme," Discussion Papers of DIW Berlin 1873, DIW Berlin, German Institute for Economic Research.
    8. Schröder, Carsten & König, Johannes & Fedorets, Alexandra & Goebel, Jan & Grabka, Markus M. & Lüthen, Holger & Metzing, Maria & Schikora, Felicitas & Liebig, Stefan, 2020. "The economic research potentials of the German Socio-Economic Panel study," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 21(3), pages 335-371.
    9. Pavel Brendler, 2020. "Why hasn't Social Security changed since 1977?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 36, pages 134-157, April.
    10. Brendler, Pavel, 2023. "Rising earnings inequality and optimal income tax and social security policies," Journal of Monetary Economics, Elsevier, vol. 134(C), pages 35-52.

  8. Yongsung Chang & Sun-Bin Kim, 2016. "On the Aggregate Labor Supply: A Progress Report," Global Economic Review, Taylor & Francis Journals, vol. 45(3), pages 275-293, July.

    Cited by:

    1. Mark Kanazawa & Mark T. Kanazawa, 2016. "Local consequences of climate change: State park visitations on the North Shore of Minnesota," Working Papers 2016-03, Carleton College, Department of Economics.

  9. Chang Yongsung & Hornstein Andreas, 2015. "Transition dynamics in the neoclassical growth model: the case of South Korea," The B.E. Journal of Macroeconomics, De Gruyter, vol. 15(2), pages 649-676, July.
    See citations under working paper version above.
  10. Yongsung Chang & Sunoong Hwang, 2015. "Asymmetric Phase Shifts in U.S. Industrial Production Cycles," The Review of Economics and Statistics, MIT Press, vol. 97(1), pages 116-133, March.
    See citations under working paper version above.
  11. Yongsung Chang & Sun-Bin Kim, 2014. "Heterogeneity and Aggregation: Implications for Labor-Market Fluctuations: Reply," American Economic Review, American Economic Association, vol. 104(4), pages 1461-1466, April.

    Cited by:

    1. Mankart, Jochen & Oikonomou, Rigas, 2015. "Household search and the aggregate labor market," Discussion Papers 26/2015, Deutsche Bundesbank.
    2. Simona Cociuba & Alexander Ueberfeldt, 2012. "Heterogeneity and Long-Run Changes in U.S. Hours and the Labor Wedge," University of Western Ontario, Centre for Human Capital and Productivity (CHCP) Working Papers 20124, University of Western Ontario, Centre for Human Capital and Productivity (CHCP).
    3. Takeki Sunakawa, 2020. "Applying the Explicit Aggregation Algorithm to Heterogeneous Macro Models," Computational Economics, Springer;Society for Computational Economics, vol. 55(3), pages 845-874, March.
    4. Damba Lkhagvasuren, 2005. "Big Locational Differences in Unemployment Despite High Labor Mobility," Working Papers 12002, Concordia University, Department of Economics, revised Feb 2012.
    5. Noh-Sun Kwark & Eunseong Ma, 2016. "Entrepreneurship and Income Distribution Dynamics: Why Are Top Income Earners Unaffected by Business Cycles?," Working Papers 1608, Nam Duck-Woo Economic Research Institute, Sogang University (Former Research Institute for Market Economy).
    6. Robert Kirkby, 2023. "Quantitative Macroeconomics: Lessons Learned from Fourteen Replications," Computational Economics, Springer;Society for Computational Economics, vol. 61(2), pages 875-896, February.

  12. Yongsung Chang & Sun-Bin Kim & Frank Schorfheide, 2013. "Labor-Market Heterogeneity, Aggregation, And Policy (In)Variance Of Dsge Model Parameters," Journal of the European Economic Association, European Economic Association, vol. 11, pages 193-220, January.
    See citations under working paper version above.
  13. Yongsung Chang & Sun-Bin Kim & Jaewoo Lee, 2013. "Accounting for Global Dispersion of Current Accounts," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 16(3), pages 477-496, July.
    See citations under working paper version above.
  14. Bils, Mark & Chang, Yongsung & Kim, Sun-Bin, 2012. "Comparative advantage and unemployment," Journal of Monetary Economics, Elsevier, vol. 59(2), pages 150-165.
    See citations under working paper version above.
  15. Chang Yongsung & Kim Sun-Bin, 2012. "The Price of Egalitarianism," The B.E. Journal of Macroeconomics, De Gruyter, vol. 11(1), pages 1-24, January.
    See citations under working paper version above.
  16. Yongsung Chang & Sun-Bin Kim & Kyooho Kwon & Richard Rogerson, 2011. "Interpreting Labor Supply Regressions in a Model of Full- and Part-Time Work," American Economic Review, American Economic Association, vol. 101(3), pages 476-481, May.
    See citations under working paper version above.
  17. Mark Bils & Yongsung Chang & Sun-Bin Kim, 2011. "Worker Heterogeneity and Endogenous Separations in a Matching Model of Unemployment Fluctuations," American Economic Journal: Macroeconomics, American Economic Association, vol. 3(1), pages 128-154, January.

    Cited by:

    1. Eleni Iliopulos & François Langot & Thepthida Sopraseuth, 2019. "Welfare Cost of Fluctuations When Labor Market Search Interacts with Financial Frictions," PSE-Ecole d'économie de Paris (Postprint) hal-03970668, HAL.
    2. Luca Flabbi & Mauricio Tejada, 2022. "Working and Saving Informally: The Link between Labor Market Informality and Financial Exclusion," CHILD Working Papers Series 105 JEL Classification: J, Centre for Household, Income, Labour and Demographic Economics (CHILD) - CCA.
    3. Lalé, Etienne, 2018. "Loss of skill and labor market fluctuations," Labour Economics, Elsevier, vol. 50(C), pages 20-31.
    4. Dongweon Lee & Yena Park, 2022. "Utility Curvature and Unemployment Volatility," Korean Economic Review, Korean Economic Association, vol. 38, pages 347-379.
    5. Tamas Papp & Alisdair McKay, 2012. "Accounting for idiosyncratic wage risk over the business cycle," 2012 Meeting Papers 820, Society for Economic Dynamics.
    6. Björn Brügemann, 2021. "Invariance of Unemployment and Vacancy Dynamics with Respect to Diminishing Returns to Labor at the Firm Level," Tinbergen Institute Discussion Papers 21-034/VI, Tinbergen Institute.
    7. David L. Fuller & Marianna Kudlyak & Damba Lkhagvasuren, 2013. "Productivity insurance: the role of unemployment benefits in a multi-sector model," Working Paper 13-11, Federal Reserve Bank of Richmond.
    8. Carlos Carrillo-Tudela & Ludo Visschers, 2020. "Unemployment and Endogenous Reallocation over the Business Cycle," CESifo Working Paper Series 8288, CESifo.
    9. Étienne Lalé, 2018. "Labor-market Frictions, Incomplete Insurance and Severance Payments," CIRANO Working Papers 2018s-14, CIRANO.
    10. Shigeru Fujita & Giuseppe Moscarini, 2013. "Recall and unemployment," Working Papers 14-3, Federal Reserve Bank of Philadelphia.
    11. Janiak, Alexandre, 2013. "Structural unemployment and the costs of firm entry and exit," Labour Economics, Elsevier, vol. 23(C), pages 1-19.
    12. Makoto Nakajima, 2011. "A Quantitative Analysis of Unemployment Benefit Extensions," Global COE Hi-Stat Discussion Paper Series gd10-175, Institute of Economic Research, Hitotsubashi University.
    13. Victor Ortego-Marti, 2014. "The Cyclical Behavior of Unemployment and Vacancies with Loss of Skills during Unemployment," Working Papers 201416, University of California at Riverside, Department of Economics.
    14. Maximiliano Dvorkin, 2013. "Sectoral Shocks, Reallocation and Unemployment in a Model of Competitive Labor Markets," 2013 Meeting Papers 1229, Society for Economic Dynamics.
    15. Jan Eeckhout & Ilse Lindenlaub, 2019. "Unemployment Cycles," American Economic Journal: Macroeconomics, American Economic Association, vol. 11(4), pages 175-234, October.
    16. David Ratner, 2013. "Unemployment Insurance Experience Rating and Labor Market Dynamics," Finance and Economics Discussion Series 2013-86, Board of Governors of the Federal Reserve System (U.S.).
    17. Wouter J Den Haan & Pontus Rendahl & Markus Riegler, 2018. "Unemployment (Fears) and Deflationary Spirals," Journal of the European Economic Association, European Economic Association, vol. 16(5), pages 1281-1349.
    18. Étienne Lalé, 2022. "Search and Multiple Jobholding," CIRANO Working Papers 2022s-28, CIRANO.
    19. Andreas Hornstein & Per Krusell & Giovanni L. Violante, 2011. "Frictional Wage Dispersion in Search Models: A Quantitative Assessment," American Economic Review, American Economic Association, vol. 101(7), pages 2873-2898, December.
    20. Adrian Masters, 2012. "The value of leisure or disutility of work: Wage dispersion in a model of search with endogenous effort," Discussion Papers 12-07, University at Albany, SUNY, Department of Economics.
    21. Lkhagvasuren, Damba, 2012. "Big locational unemployment differences despite high labor mobility," Journal of Monetary Economics, Elsevier, vol. 59(8), pages 798-814.
    22. Rauh, C. & Santos, M. R., 2022. "How do transfers and universal basic income impact the labor market and inequality?," Janeway Institute Working Papers 2205, Faculty of Economics, University of Cambridge.
    23. Alexandre Janiak, 2010. "Structural unemployment and the regulation of product market," Documentos de Trabajo 274, Centro de Economía Aplicada, Universidad de Chile.
    24. Dean Corbae & Andrew Glover & Daphne Chen, 2013. "Can Employer Credit Checks Create Poverty Traps?," 2013 Meeting Papers 875, Society for Economic Dynamics.
    25. Xiwen Bai & Jesús Fernández-Villaverde & Yiliang Li & Francesco Zanetti, 2024. "The Causal Effects of Global Supply Chain Disruptions on Macroeconomic Outcomes: Evidence and Theory," CESifo Working Paper Series 10930, CESifo.
    26. Bai, Hang & Zhang, Lu, 2022. "Searching for the equity premium," Journal of Financial Economics, Elsevier, vol. 143(2), pages 897-926.
    27. Tomaz Cajner & Isabel Cairo, 2011. "Human Capital and Unemployment Dynamics: Why More Educated Workers Enjoy Greater Employment Stability," 2011 Meeting Papers 1145, Society for Economic Dynamics.
    28. Tortorice, Daniel L., 2013. "Endogenous separation, wage rigidity and the dynamics of unemployment," Journal of Macroeconomics, Elsevier, vol. 38(PB), pages 179-191.
    29. Wouter Den Haan & Pontus Rendahl & Markus Riegler, 2015. "Unemployment (Fears) and Deflationary Spirals," Discussion Papers 1521, Centre for Macroeconomics (CFM).
    30. Jeremy Lise, 2013. "On-the-Job Search and Precautionary Savings," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 80(3), pages 1086-1113.
    31. Julien Albertini & Xavier Fairise & Arthur Poirier & Anthony Terriau, 2022. "Short-time work policies during the COVID-19 pandemic," Working Papers 2204, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    32. Ilse Lindenlaub, 2015. "Unemployment Cycles," 2015 Meeting Papers 1368, Society for Economic Dynamics.
    33. Been-Lon Chen & Chih-Fang Lai, 2016. "Relative effects of labor taxes on employment and working hours: role of mechanisms shaping working hours," Journal of Economics, Springer, vol. 117(1), pages 49-84, January.
    34. Avihai Lifschitz & Ofer Setty & Yaniv Yedid-Levi, 2019. "On the Provision of Unemployment Insurance when Workers are Ex-ante Heterogeneous," 2019 Meeting Papers 391, Society for Economic Dynamics.
    35. Den Haan, Wouter J. & Rendahl, Pontus & Riegler, Markus, 2015. "Unemployment (fears) and deflationary spirals," LSE Research Online Documents on Economics 86288, London School of Economics and Political Science, LSE Library.
    36. Jan Eeckhout & Korie Amberger, 2017. "Labor Market Liquidity," 2017 Meeting Papers 839, Society for Economic Dynamics.
    37. Jeremy Lise, 2011. "On-the-Job Search and Precautionary Savings: Theory and Empirics of Earnings and Wealth Inequality," IFS Working Papers W11/16, Institute for Fiscal Studies.
    38. Paul Gomme & Damba Lkhagvasuren, 2013. "The Cyclicality of Search Intensity in a Competitive Search Model," Working Papers 13002, Concordia University, Department of Economics, revised Sep 2013.
    39. Pawel Krolikowski, 2017. "Job Ladders and Earnings of Displaced Workers," American Economic Journal: Macroeconomics, American Economic Association, vol. 9(2), pages 1-31, April.
    40. Damba Lkhagvasuren, 2005. "Big Locational Differences in Unemployment Despite High Labor Mobility," Working Papers 12002, Concordia University, Department of Economics, revised Feb 2012.
    41. Alexandre Janiak & Jonathan Rojas Hepburn, 2023. "The Grasshopper, the Ant, and the Minimum Wage," Documentos de Trabajo 570, Instituto de Economia. Pontificia Universidad Católica de Chile..
    42. Byeongju Jeong, 2013. "Bargaining and Wealth Accumulation," CERGE-EI Working Papers wp479, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    43. Fernandez-Blanco, Javier & Preugschat, Edgar, 2017. "On the effects of ranking by unemployment duration," MPRA Paper 85310, University Library of Munich, Germany.
    44. Lifschitz, Avihai & Setty, Ofer & Yedid-Levi, Yaniv, 2013. "Who Cares about Unemployment Insurance?," Foerder Institute for Economic Research Working Papers 275784, Tel-Aviv University > Foerder Institute for Economic Research.
    45. Pusateri, Nic, 2023. "Human capital heterogeneity of the unemployed and jobless recoveries," Journal of Macroeconomics, Elsevier, vol. 76(C).
    46. Den Haan, Wouter J. & Rendahl, Pontus & Riegler, Markus, 2018. "Unemployment (fears) and deflationary spirals," LSE Research Online Documents on Economics 84625, London School of Economics and Political Science, LSE Library.
    47. López-Martín Bernabé & Takayama Naoki, 2015. "The Blighted Youth: The Impact of Recessions and Policies on Life-Cycle Unemployment," Working Papers 2015-22, Banco de México.
    48. Bai, Hang, 2021. "Unemployment and credit risk," Journal of Financial Economics, Elsevier, vol. 142(1), pages 127-145.
    49. Pawel Krolikowski, 2019. "Job Heterogeneity and Aggregate Labor Market Fluctuations," Working Papers 19-04, Federal Reserve Bank of Cleveland.

  18. Sungbae An & Yongsung Chang & Sun-Bin Kim, 2009. "Can a Representative-Agent Model Represent a Heterogeneous-Agent Economy," American Economic Journal: Macroeconomics, American Economic Association, vol. 1(2), pages 29-54, July.
    See citations under working paper version above.
  19. Chang, Yongsung & Hornstein, Andreas & Sarte, Pierre-Daniel, 2009. "On the employment effects of productivity shocks: The role of inventories, demand elasticity, and sticky prices," Journal of Monetary Economics, Elsevier, vol. 56(3), pages 328-343, April.

    Cited by:

    1. Kryvtsov, Oleksiy & Midrigan, Virgiliu, 2010. "Inventories and real rigidities in New Keynesian business cycle models," Journal of the Japanese and International Economies, Elsevier, vol. 24(2), pages 259-281, June.
    2. Sedjro Aaron Alovokpinhou & Christopher Malikane & Tshepo Mokoka, 2022. "Inventory dynamics and endogenous persistence in a new Keynesian model," Applied Economics, Taylor & Francis Journals, vol. 54(17), pages 1957-1973, April.
    3. Crouzet, Nicolas & Oh, Hyunseung, 2016. "What do inventories tell us about news-driven business cycles?," Journal of Monetary Economics, Elsevier, vol. 79(C), pages 49-66.
    4. Kaas, Leo & Kimasa, Bihemo, 2018. "Firm Dynamics with Frictional Product and Labor Markets," IZA Discussion Papers 11745, Institute of Labor Economics (IZA).
    5. Thomas A. Lubik & Wing Leong Teo, 2010. "Inventories, inflation dynamics, and the New Keynesian Phillips curve," Working Paper 10-01, Federal Reserve Bank of Richmond.
    6. Francesco Furlanett & Nicolas Groshenny, 2012. "Matching efficiency and business cycle fluctuations," Reserve Bank of New Zealand Discussion Paper Series DP2012/06, Reserve Bank of New Zealand.
    7. Robert S. Chirinko & Daniel J. Wilson, 2010. "State business taxes and investment: state-by-state simulations," Economic Review, Federal Reserve Bank of San Francisco, pages 13-28.
    8. Louis J. Maccini & Bartholomew Moore & Huntley Schaller, 2013. "Inventory Behavior with Permanent Sales Shocks," Fordham Economics Discussion Paper Series dp2013-03, Fordham University, Department of Economics.
    9. Vannoorenberghe, G., 2012. "Firm-level volatility and exports," Journal of International Economics, Elsevier, vol. 86(1), pages 57-67.
    10. Teo, Wing Leong, 2011. "Inventories and optimal monetary policy in a small open economy," Journal of International Money and Finance, Elsevier, vol. 30(8), pages 1719-1748.
    11. Matteo Iacoviello & Fabio Schiantarelli & Scott Schuh, 2010. "Input and output inventories in general equilibrium," International Finance Discussion Papers 1004, Board of Governors of the Federal Reserve System (U.S.).
    12. G. Peersman & R. Straub, 2005. "Technology Shocks and Robust Sign Restrictions in a Euro Area SVAR," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 05/288, Ghent University, Faculty of Economics and Business Administration.
    13. Marcel Förster, 2013. "The Great Moderation: Inventories, Shocks or Monetary Policy?," MAGKS Papers on Economics 201348, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    14. Kashif Zaheer Malik & Syed Zahid Ali, 2020. "Is the empirical relationship between hours and productivity effected by corporate profits?," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 44(1), pages 99-119, January.
    15. Mark Bils & Peter J. Klenow & Benjamin A. Malin, 2012. "Testing for Keynesian Labor Demand," NBER Chapters, in: NBER Macroeconomics Annual 2012, Volume 27, pages 311-349, National Bureau of Economic Research, Inc.
    16. Thomas A. Lubik & Wing Leong Teo, 2009. "Inventories and Optimal Monetary Policy," Discussion Papers 09/06, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
    17. Seong‐Hoon Kim & Seongman Moon, 2017. "A Map of Markups: Why We Observe Mixed Behaviors of Markups," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 26(2), pages 529-553, June.
    18. Christoph Gortz & Christopher Gunn & Thomas Lubik, 2022. "Split Personalities: The Changing Nature of Technology Shocks," Carleton Economic Papers 22-06, Carleton University, Department of Economics.
    19. Christoph Görtz & Christopher Gunn & Thomas A. Lubik, 2024. "The Changing Nature of Technology Shocks," CESifo Working Paper Series 11385, CESifo.
    20. Park, Kangwoo, 2012. "Employment responses to aggregate and sectoral technology shocks," Journal of Macroeconomics, Elsevier, vol. 34(3), pages 801-821.
    21. Pengfei Wang & Yi Wen & Zhiwei Xu, 2012. "What inventories tell us about aggregate fluctuations -- a tractable approach to (S,s) policies," Working Papers 2012-059, Federal Reserve Bank of St. Louis.
    22. Kim Jung-Wook & Chun Hyunbae, 2011. "Technology Shocks and Employment: Evidence from U.S. Firm-Level Data," The B.E. Journal of Macroeconomics, De Gruyter, vol. 11(1), pages 1-23, September.
    23. Zhiwei Xu & Yi Wen & pengfei Wang, 2012. "When Do Inventories Destabilize the Economy? ---A Tractable Approach to (S,s) Policies," 2012 Meeting Papers 288, Society for Economic Dynamics.
    24. Yongseung Jung & Tack Yun, 2013. "Inventory Investment and the Empirical Phillips Curve," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(1), pages 201-231, February.
    25. Gospodinov, Nikolay & Maynard, Alex & Pesavento, Elena, 2011. "Sensitivity of Impulse Responses to Small Low-Frequency Comovements: Reconciling the Evidence on the Effects of Technology Shocks," Journal of Business & Economic Statistics, American Statistical Association, vol. 29(4), pages 455-467.
    26. Marcel Förster, 2014. "An Empirical Analysis of Business Cycles in a New Keynesian Model with Inventories," MAGKS Papers on Economics 201413, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    27. Thomas A. Lubik & Pierre-Daniel G. Sarte & Felipe Schwartzman, 2014. "What Inventory Behavior Tells Us About How Business Cycles Have Changed," Working Paper 14-6, Federal Reserve Bank of Richmond.
    28. Barnichon, Regis, 2010. "Productivity and unemployment over the business cycle," Journal of Monetary Economics, Elsevier, vol. 57(8), pages 1013-1025, November.

  20. Yongsung Chang & Sun-Bin Kim, 2007. "Heterogeneity and Aggregation: Implications for Labor-Market Fluctuations," American Economic Review, American Economic Association, vol. 97(5), pages 1939-1956, December.

    Cited by:

    1. Mankart, Jochen & Oikonomou, Rigas, 2015. "Household search and the aggregate labor market," Discussion Papers 26/2015, Deutsche Bundesbank.
    2. Sungbae An & Yongsung Chang & Sun-Bin Kim, 2008. "Can a Representative-Agent Model Represent a Heterogeneous-Agent Economy?," Microeconomics Working Papers 22056, East Asian Bureau of Economic Research.
    3. Jeong, Jaehun & Shim, Myungkyu, 2022. "On the welfare cost of business cycles: The role of labor-market heterogeneity," Journal of Macroeconomics, Elsevier, vol. 73(C).
    4. Mitman, Kurt & Krueger, Dirk & Perri, Fabrizio, 2016. "Macroeconomics and Household Heterogeneity," CEPR Discussion Papers 11308, C.E.P.R. Discussion Papers.
    5. Chang, Yongsung & Kim, Sun-Bin & Kwon, Kyooho & Rogerson, Richard, 2020. "Cross-sectional and aggregate labor supply," European Economic Review, Elsevier, vol. 126(C).
    6. Gaston Navarro & Axelle Ferriere, 2016. "The Heterogeneous Effects of Government Spending: It's All About Taxes," 2016 Meeting Papers 1286, Society for Economic Dynamics.
    7. Yavuz Arslan & Bulent Guler & Temel Taskin, 2020. "Price search, consumption inequality, and expenditure inequality over the life-cycle," BIS Working Papers 886, Bank for International Settlements.
    8. Takahashi, Shuhei & Yamada, Ken, 2022. "Understanding international differences in the skill premium: The role of capital taxes and transfers," Journal of Economic Dynamics and Control, Elsevier, vol. 143(C).
    9. Andrea Pescatori & Murat Tasci, 2011. "Search Frictions and the Labor Wedge," Koç University-TUSIAD Economic Research Forum Working Papers 1113, Koc University-TUSIAD Economic Research Forum.
    10. Richard M. H. Suen, 2012. "Time Preference and the Distribution of Wealth and Income," Working papers 2012-01, University of Connecticut, Department of Economics.
    11. Garth Heutel & Carolyn Fischer, 2013. "Environmental Macroeconomics: Environmental Policy, Business Cycles, and Directed Technical Change," NBER Working Papers 18794, National Bureau of Economic Research, Inc.
    12. Garth Heutel, 2011. "Online Appendix to "How Should Environmental Policy Respond to Business Cycles? Optimal Policy under Persistent Productivity Shocks"," Online Appendices 10-62, Review of Economic Dynamics.
    13. Busato, Francesco & Chiarini, Bruno & Cisco, Gianluigi & Ferrara, Maria, 2021. "Greta Thunberg effect and Business Cycle Dynamics: A DSGE model," MPRA Paper 110141, University Library of Munich, Germany.
    14. Maliar, Lilia & Maliar, Serguei, 2022. "Deep learning classification: Modeling discrete labor choice," Journal of Economic Dynamics and Control, Elsevier, vol. 135(C).
    15. Papp, Tamás K. & Reiter, Michael, 2020. "Estimating linearized heterogeneous agent models using panel data," Journal of Economic Dynamics and Control, Elsevier, vol. 115(C).
    16. Lafourcade, Pierre & Gerali, Andrea & Brůha, Jan & Bursian, Dirk & Buss, Ginters & Corbo, Vesna & Haavio, Markus & Håkanson, Christina & Hlédik, Tibor & Kátay, Gábor & Kulikov, Dmitry & Lozej, Matija , 2016. "Labour market modelling in the light of the financial crisis," Occasional Paper Series 175, European Central Bank.
    17. Levchenko, Andrei & Bonadio, Barthelemey & Huo, Zhen & Pandalai-Nayar, Nitya, 2020. "Global Supply Chains in the Pandemic," CEPR Discussion Papers 14766, C.E.P.R. Discussion Papers.
    18. Loukas Karabarbounis, 2014. "The Labor Wedge: MRS vs. MPN," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 17(2), pages 206-223, April.
    19. Kokonas, Nikolaos & Monteiro, Paulo Santos, 2021. "Aggregation in economies with search frictions," Journal of Mathematical Economics, Elsevier, vol. 96(C).
    20. Krusell, Per & Mukoyama, Toshihiko & Rogerson, Richard & Sahin, Aysegül, 2008. "Aggregate implications of indivisible labor, incomplete markets, and labor market frictions," Journal of Monetary Economics, Elsevier, vol. 55(5), pages 961-979, July.
    21. Eunseong Ma & Daeha Cho, 2022. "The Heterogeneous Welfare Effects of Business Cycles," Working papers 2022rwp-204, Yonsei University, Yonsei Economics Research Institute.
    22. Yongsung Chang & Sun-Bin Kim, 2014. "Heterogeneity and Aggregation: Implications for Labor-Market Fluctuations: Reply," American Economic Review, American Economic Association, vol. 104(4), pages 1461-1466, April.
    23. Choonsung Park, 2020. "Consumption, Reservation Wages, and Aggregate Labor Supply," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 54-80, July.
    24. Ricardo Reis & Vasco Curdia, 2009. "Correlated Disturbances and U.S. Business Cycles," 2009 Meeting Papers 129, Society for Economic Dynamics.
    25. Sim, Seung-Gyu & Lee, Saiah, 2020. "The cyclical behavior of household and corporate credit in emerging economies," Emerging Markets Review, Elsevier, vol. 45(C).
    26. Haefke, Christian & Reiter, Michael, 2012. "What Do Participation Fluctuations Tell Us About Labor Supply Elasticities?," VfS Annual Conference 2012 (Goettingen): New Approaches and Challenges for the Labor Market of the 21st Century 62055, Verein für Socialpolitik / German Economic Association.
    27. Gaston Navarro & Axelle Ferriere & Daniel Feenberg, 2017. "Evolution of Tax Progressivity in the U.S.: New Estimates and Welfare Implications," 2017 Meeting Papers 989, Society for Economic Dynamics.
    28. Bo Hyun Chang & Youngsung Chang & Sun-Bin Kim, 2017. "Pareto Weights in Practice: A Quantitative Analysis Across 32 OECD Countries," LIS Working papers 662, LIS Cross-National Data Center in Luxembourg.
    29. Alexander Bick & Adam Blandin & Richard Rogerson, 2022. "Hours and Wages," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 137(3), pages 1901-1962.
    30. Heutel, Garth, 2011. "How Should Environmental Policy Respond to Business Cycles? Optimal Policy under Persistent Productivity Shocks," UNCG Economics Working Papers 11-8, University of North Carolina at Greensboro, Department of Economics.
    31. David Coble, 2015. "The Labor Wedge: New Facts Based on US Microdata," Working Papers Central Bank of Chile 751, Central Bank of Chile.
    32. Simona Cociuba & Alexander Ueberfeldt, 2012. "Heterogeneity and Long-Run Changes in U.S. Hours and the Labor Wedge," University of Western Ontario, Centre for Human Capital and Productivity (CHCP) Working Papers 20124, University of Western Ontario, Centre for Human Capital and Productivity (CHCP).
    33. Berriel, Tiago Couto & Zilberman, Eduardo, 2011. "Targeting the poor: a macroeconomic analysis of cash transfer programs," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 726, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    34. Sun-Bin Kim & Richard Rogerson & Yongsung Chang, 2012. "Hours and Employment in the Cross-Section and Over the Cycle," 2012 Meeting Papers 82, Society for Economic Dynamics.
    35. Takeki Sunakawa, 2020. "Applying the Explicit Aggregation Algorithm to Heterogeneous Macro Models," Computational Economics, Springer;Society for Computational Economics, vol. 55(3), pages 845-874, March.
    36. Tomoyuki Nakajima & Shuhei Takahashi, 2017. "The Effectiveness of Consumption Taxes and Transfers as Insurance against Idiosyncratic Risk," UTokyo Price Project Working Paper Series 074, University of Tokyo, Graduate School of Economics.
    37. Jacob LaRiviere & Matthew McMahon & Justin Roush, 2019. "Second-Best Prioritization of Environmental Cleanups," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 72(4), pages 1225-1249, April.
    38. Daehaeng Kim & Chul-In Lee, 2007. "On-the-Job Human Capital Accumulation in a Real Business Cycle Model: Implications for Intertemporal Substitution Elasticity and Labor Hoarding," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 10(3), pages 494-518, July.
    39. Yonsung Chang & Sun-Bin Kim & Kyooho Kwon, 2012. "Individual and Aggregate Labor Supply in a Heterogeneous Agent Economy with Intensive and Extensive Margins," Working papers 2012rwp-48, Yonsei University, Yonsei Economics Research Institute.
    40. Sun-Bin Kim & Frank Schorfheide & Yongsung Chang, 2010. "Financial Frictions, Aggregation, and the Lucas Critique," 2010 Meeting Papers 31, Society for Economic Dynamics.
    41. Konstantinos Angelopoulos & Spyridon Lazarakis & Jim Malley, 2019. "Savings externalities and wealth inequality," CESifo Working Paper Series 7619, CESifo.
    42. Michael Reiter, 2019. "Solving Heterogeneous Agent Models with Non-convex Optimization Problems: Linearization and Beyond %," 2019 Meeting Papers 1048, Society for Economic Dynamics.
    43. Youngsung Chang & Andreas Hornstein & Marios Karabarbounis, 2020. "Labor-Market Wedge under Engel Curve Utility: Cyclical Substitution between Necessities and Luxuries," Working Paper Series no130, Institute of Economic Research, Seoul National University.
    44. Pedro Brinca, 2013. "Distortions in the Neoclassical Growth Model: A Cross-Country Analysis," GEMF Working Papers 2013-24, GEMF, Faculty of Economics, University of Coimbra.
    45. Angelopoulos, Konstantinos & Philippopoulos, Apostolis & Vassilatos, Vanghelis, 2009. "The social cost of rent seeking in Europe," European Journal of Political Economy, Elsevier, vol. 25(3), pages 280-299, September.
    46. Lim, Taejun, 2017. "Macroeconomic Effects Of Expansion Of Universal Health Care: The Case Of South Korea," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 58(2), pages 143-161, December.
    47. Gianluigi Cisco & Andrea Gatto, 2021. "Climate Justice in an Intergenerational Sustainability Framework: A Stochastic OLG Model," Economies, MDPI, vol. 9(2), pages 1-13, April.
    48. Shuhei Takahashi, 2015. "Time-Varying Wage Risk, Incomplete Markets, and Business Cycles," KIER Working Papers 912, Kyoto University, Institute of Economic Research.
    49. Grazzini, Jakob & Richiardi, Matteo, 2015. "Estimation of ergodic agent-based models by simulated minimum distance," Journal of Economic Dynamics and Control, Elsevier, vol. 51(C), pages 148-165.
    50. Stephen J. Terry, 2017. "Alternative Methods for Solving Heterogeneous Firm Models," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 49(6), pages 1081-1111, September.
    51. Yongsung Chang & Sun-Bin Kim & Mark Bils, 2007. "Comparative Advantage in Cyclical Unemployment," 2007 Meeting Papers 508, Society for Economic Dynamics.
    52. Mike Waugh, 2018. "Redistributing the Gains From Trade Through Progressive Taxation," 2018 Meeting Papers 1210, Society for Economic Dynamics.
    53. Pavol Majher, 2015. "Firm entry and exit, investment irreversibility, and business cycle dynamics," Vienna Economics Papers vie1513, University of Vienna, Department of Economics.
    54. Per Krusell & Toshihiko Mukoyama & Richard Rogerson & Aysegul Sahin, 2009. "A Three State Model of Worker Flows in General Equilibrium," NBER Working Papers 15251, National Bureau of Economic Research, Inc.
    55. Matteo Iacoviello & Marina Pavan, 2007. "An Equilibrium Model of Lumpy Housing Investment," Rivista di Politica Economica, SIPI Spa, vol. 97(2), pages 15-44, March-Apr.
    56. Jose Mustre-del-Rio, 2014. "Online Appendix to "Wealth and Labor Supply Heterogeneity"," Online Appendices 12-158, Review of Economic Dynamics.
    57. Yum, Minchul, 2018. "On the distribution of wealth and employment," Working Papers 18-03, University of Mannheim, Department of Economics.
    58. Bettoni, Luis G. & Santos, Marcelo, 2023. "Optimal fiscal policy in incomplete market business cycle economies," The Quarterly Review of Economics and Finance, Elsevier, vol. 89(C), pages 218-226.
    59. Gallen, Trevor S., 2021. "Predicting and decomposing why representative agent and heterogeneous agent models sometimes diverge," Economic Modelling, Elsevier, vol. 101(C).
    60. Geng, Runjie & Kubler, Felix, 2023. "Stochastic overlapping generations with non-convex budget sets," Journal of Mathematical Economics, Elsevier, vol. 107(C).
    61. Erzo G. J. Luttmer, 2019. "Slow Convergence in Economies with Organization Capital," Staff Report 585, Federal Reserve Bank of Minneapolis.
    62. Damba Lkhagvasuren, 2005. "Big Locational Differences in Unemployment Despite High Labor Mobility," Working Papers 12002, Concordia University, Department of Economics, revised Feb 2012.
    63. Lim, Taejun, 2019. "The Rise of Single-Person Households and the Macroeconomic Consequences," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 60(2), pages 189-198, December.
    64. Yongsung Chang & Sun-Bin Kim, 2010. "The Price of Egalitarianism," RCER Working Papers 558, University of Rochester - Center for Economic Research (RCER).
    65. Noh-Sun Kwark & Eunseong Ma, 2016. "Entrepreneurship and Income Distribution Dynamics: Why Are Top Income Earners Unaffected by Business Cycles?," Working Papers 1608, Nam Duck-Woo Economic Research Institute, Sogang University (Former Research Institute for Market Economy).
    66. Adrien Auclert & Bence Bardóczy & Matthew Rognlie & Ludwig Straub, 2019. "Using the Sequence-Space Jacobian to Solve and Estimate Heterogeneous-Agent Models," NBER Working Papers 26123, National Bureau of Economic Research, Inc.
    67. Xiao, Bowen & Fan, Ying & Guo, Xiaodan, 2018. "Exploring the macroeconomic fluctuations under different environmental policies in China: A DSGE approach," Energy Economics, Elsevier, vol. 76(C), pages 439-456.
    68. Cao, Dan, 2020. "Recursive equilibrium in Krusell and Smith (1998)," Journal of Economic Theory, Elsevier, vol. 186(C).
    69. Bo Hyun Chang & Yongsung Chang & Sun-Bin Kim, 2018. "Pareto Weights in Practice: A Quantitative Analysis of 32 OECD Countries," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 28, pages 181-204, April.
    70. Damba Lkhagvasuren & Erdenebat Bataa, 2023. "Finite-State Markov Chains with Flexible Distributions," Computational Economics, Springer;Society for Computational Economics, vol. 61(2), pages 611-644, February.
    71. Zhang, Lini, 2018. "Credit crunches, individual heterogeneity and the labor wedge," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 65-88.
    72. Per Krusell & Toshihiko Mukoyama & Richard Rogerson & Ayşegül Şahin, 2010. "Aggregate labor market outcomes: The roles of choice and chance," Quantitative Economics, Econometric Society, vol. 1(1), pages 97-127, July.
    73. Mark Bils & Yongsung Chang & Sun-Bin Kim, 2008. "Heterogeneity and Cyclical Unemployment," Discussion Paper Series 0805, Institute of Economic Research, Korea University.
    74. Mark Bils & Yongsung Chang & Sun-Bin Kim, 2011. "Worker Heterogeneity and Endogenous Separations in a Matching Model of Unemployment Fluctuations," American Economic Journal: Macroeconomics, American Economic Association, vol. 3(1), pages 128-154, January.
    75. Robert Kirkby, 2023. "Quantitative Macroeconomics: Lessons Learned from Fourteen Replications," Computational Economics, Springer;Society for Computational Economics, vol. 61(2), pages 875-896, February.
    76. James Lake & Maia K. Linask, 2015. "Could tariffs be pro-cyclcial?," Departmental Working Papers 1502, Southern Methodist University, Department of Economics.
    77. Mr. Murat Tasci & Mr. Andrea Pescatori, 2011. "Search Frictions and the Labor Wedge," IMF Working Papers 2011/117, International Monetary Fund.
    78. Gallen, Trevor S., 2018. "Is the labor wedge due to rigid wages? Evidence from the self-employed," Journal of Macroeconomics, Elsevier, vol. 55(C), pages 184-198.
    79. Yongsung Chang & Sun-Bin Kim & Frank Schorfheide, 2010. "Labor-Market Heterogeneity, Aggregation, and the Lucas Critique," NBER Working Papers 16401, National Bureau of Economic Research, Inc.
    80. Michał Gradzewicz & Krzysztof Makarski & Joanna Tyrowicz, 2013. "Do We Really Need to Start From Scratch? Economic Theory on Economic Crises," Working Papers 2013-17, Faculty of Economic Sciences, University of Warsaw.
    81. Tiago Berriel & Rodrigo Abreu, 2015. "Long Term Debt and Credit Crisis in a Liquidity Constrained Economy," Textos para discussão 644, Department of Economics PUC-Rio (Brazil).
    82. Barnichon, Regis, 2010. "Productivity and unemployment over the business cycle," Journal of Monetary Economics, Elsevier, vol. 57(8), pages 1013-1025, November.
    83. Rogerson, Richard & Shimer, Robert, 2011. "Search in Macroeconomic Models of the Labor Market," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 4, chapter 7, pages Pages: 61, Elsevier.
    84. Francesco Busato & Bruno Chiarini & Gianluigi Cisco & Maria Ferrara, 2023. "Green preferences," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(4), pages 3211-3253, April.
    85. Lim, Taejun, 2021. "Coverage Expansion of Universal Health Care and its Impacts on Health Insurance Market and Welfare: the Case of South Korea," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 62(2), pages 141-161, December.
    86. Stefano Eusepi & Bruce Preston, 2009. "Labor Supply Heterogeneity and Macroeconomic Co-movement," NBER Working Papers 15561, National Bureau of Economic Research, Inc.
    87. Francisco J. Buera & Benjamin Moll, 2012. "Aggregate Implications of a Credit Crunch," NBER Working Papers 17775, National Bureau of Economic Research, Inc.
    88. Michael Keane & Richard Rogerson, 2012. "Micro and Macro Labor Supply Elasticities: A Reassessment of Conventional Wisdom," Journal of Economic Literature, American Economic Association, vol. 50(2), pages 464-476, June.
    89. Macnamara Patrick, 2016. "Understanding entry and exit: a business cycle accounting approach," The B.E. Journal of Macroeconomics, De Gruyter, vol. 16(1), pages 47-91, January.

  21. Yongsung Chang & Taeyoung Doh & Frank Schorfheide, 2007. "Non-stationary Hours in a DSGE Model," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(6), pages 1357-1373, September.
    See citations under working paper version above.
  22. 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.
    See citations under working paper version above.
  23. Yongsung Chang & Jay H. Hong, 2006. "Do Technological Improvements in the Manufacturing Sector Raise or Lower Employment?," American Economic Review, American Economic Association, vol. 96(1), pages 352-368, March.
    See citations under working paper version above.
  24. Yongsung Chang & Sun-Bin Kim, 2005. "On the aggregate labor supply," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 91(Win), pages 21-37.

    Cited by:

    1. 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.
    2. Kartik B. Athreya, 2008. "Credit access, labor supply, and consumer welfare," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 94(Win), pages 17-44.
    3. Douglas Laxton & Michael Kumhof, 2007. "A Party without a Hangover? On the Effects of U.S. Government Deficits," 2007 Meeting Papers 676, Society for Economic Dynamics.
    4. Juraj Zeman & Matus Senaj, 2009. "DSGE Model-Slovakia," Working and Discussion Papers WP 3/2009, Research Department, National Bank of Slovakia.
    5. Juillard, Michael & Kamenik, Ondra & Kumhof, Michael & Laxton, Douglas, 2008. "Optimal price setting and inflation inertia in a rational expectations model," Journal of Economic Dynamics and Control, Elsevier, vol. 32(8), pages 2584-2621, August.
    6. Tutino, Antonella, 2008. "Processing savings and work decisions through Shannon's channels," MPRA Paper 16746, University Library of Munich, Germany, revised 26 Jul 2009.
    7. Mr. Michael Kumhof & Mr. Douglas Laxton, 2009. "Chile’s Structural Fiscal Surplus Rule: A Model-Based Evaluation," IMF Working Papers 2009/088, International Monetary Fund.
    8. Michel Juillard & Ondrej Kamenik & Michael Kumhof & Douglas Laxton, 2006. "Measures of Potential Output from an Estimated DSGE Model of the United States," Working Papers 2006/11, Czech National Bank.
    9. N'Diaye, Papa & Zhang, Ping & Zhang, Wenlang, 2010. "Structural reform, intra-regional trade, and medium-term growth prospects of East Asia and the Pacific--Perspectives from a new multi-region model," Journal of Asian Economics, Elsevier, vol. 21(1), pages 20-36, February.

  25. Chang, Yongsung & Nam, Jaeryang & Rhee, Changyong, 2004. "Trends in unemployment rates in Korea: A search-matching model interpretation," Journal of the Japanese and International Economies, Elsevier, vol. 18(2), pages 241-263, June.
    See citations under working paper version above.
  26. Chang, Yongsung & Schorfheide, Frank, 2003. "Labor-supply shifts and economic fluctuations," Journal of Monetary Economics, Elsevier, vol. 50(8), pages 1751-1768, November.
    See citations under working paper version above.
  27. Bils, Mark & Chang, Yongsung, 2003. "Welfare costs of sticky wages when effort can respond," Journal of Monetary Economics, Elsevier, vol. 50(2), pages 311-330, March.
    See citations under working paper version above.
  28. Yongsung Chang & Joao F. Gomes & Frank Schorfheide, 2002. "Learning-by-Doing as a Propagation Mechanism," American Economic Review, American Economic Association, vol. 92(5), pages 1498-1520, December.
    See citations under working paper version above.
  29. Chang, Yongsung & Kwark, Noh-Sun, 2001. "Decomposition of hours based on extensive and intensive margins of labor," Economics Letters, Elsevier, vol. 72(3), pages 361-367, September.
    See citations under working paper version above.
  30. Bils Marks & Chang Yongsung, 2001. "Cyclical Movements in Hours and Effort Under Sticky Wages-super-," International Economic Journal, Taylor & Francis Journals, vol. 15(2), pages 1-26, June.

    Cited by:

    1. Jean-Michel Grandmont, 2016. "Endogenous Procyclicality of Labor Productivity, Employment, Real Wages and Effort in Conditionally Heteroskedastic Sunspots Unemployment Business Cycles with Negishi-Solow Efficiency Wages," Discussion Paper Series DP2016-14, Research Institute for Economics & Business Administration, Kobe University.
    2. Jean-Michel Grandmont, "undated". "Countercyclical Endogenous Uncertainty Shocks, Efficiency Wages and Procyclical Precautionary Labor Productivity," Working Papers 2017:25, Department of Economics, University of Venice "Ca' Foscari".
    3. Jean-Michel Grandmont, 2016. "Endogenous Procyclicality of Labor Productivity, Employment, Real Wages and Effort in Conditionally Heteroskedastic Sunspots Unemployment Business Cycles with Negishi-Solow Efficiency Wages," Working Papers 2016-06, Center for Research in Economics and Statistics.
    4. Yongsung Chang & Mark Bils, 2002. "Welfare Costs of Sticky Wages When Effort Can Respond," Macroeconomics 0204003, University Library of Munich, Germany.

  31. Bils, Mark & Chang, Yongsung, 2000. "Understanding how price responds to costs and production," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 52(1), pages 33-77, June.
    See citations under working paper version above.
  32. Chang, Yongsung, 2000. "Wages, business cycles, and comparative advantage," Journal of Monetary Economics, Elsevier, vol. 46(1), pages 143-171, August.

    Cited by:

    1. Mankart, Jochen & Oikonomou, Rigas, 2015. "Household search and the aggregate labor market," Discussion Papers 26/2015, Deutsche Bundesbank.
    2. Gavilan, Angel, 2012. "Wage inequality, segregation by skill and the price of capital in an assignment model," European Economic Review, Elsevier, vol. 56(1), pages 116-137.
    3. Kuehn, Zoe, 2012. "Migration, Wages, and Parental Background: Obstacles to Entrepreneurship and Growth in East Germany," MPRA Paper 49250, University Library of Munich, Germany.
    4. Riccardo DiCecio & Levon Barseghayn, 2009. "Entry Costs, Misallocation, and Cross-Country Income and TFP Differences," 2009 Meeting Papers 428, Society for Economic Dynamics.
    5. Yoonsoo Lee, 2005. "The importance of reallocations in cyclical productivity and returns to scale: evidence from plant-level data," Working Papers (Old Series) 0509, Federal Reserve Bank of Cleveland.
    6. Guner, Nezih & Ventura, Gustavo & Xu, Daniel Yi, 2007. "Macroeconomic Implications of Size-Dependent Policies," CEPR Discussion Papers 6138, C.E.P.R. Discussion Papers.
    7. CASTRO, Rui & COEN-PIRANI, Daniele, 2005. "Why Have Aggregate Skilled Hours Become So Cyclical Since the Mid-1980's?," Cahiers de recherche 2005-19, Universite de Montreal, Departement de sciences economiques.
    8. Zoë Kuehn, 2014. "Tax Rates, Governance, And The Informal Economy In High-Income Countries," Economic Inquiry, Western Economic Association International, vol. 52(1), pages 405-430, January.
    9. Riccardo DiCecio & Levon Barseghyan, 2010. "Entry Costs, Industry Structure, and Cross-Country Income and TFP Differences," 2010 Meeting Papers 964, Society for Economic Dynamics.
    10. Katsuya Takii, 2004. "Entrepreneurial Efficiency: An Empirical Framework and Evidence," Macroeconomics 0411006, University Library of Munich, Germany.
    11. 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.
    12. Kuehn, Zoe, 2014. "The rise or the fall of the wall? Determinants of low entrepreneurship in East Germany," Working Papers in Economic Theory 2014/03, Universidad Autónoma de Madrid (Spain), Department of Economic Analysis (Economic Theory and Economic History).
    13. Lei Fang, 2010. "Entry Barriers, Financial Frictions, and Cross-Country Differences in Income and TFP," 2010 Meeting Papers 505, Society for Economic Dynamics.
    14. Kangwoo Park, 2007. "Labor-Market Implications of Contracts under Moral Hazard," 2007 Meeting Papers 277, Society for Economic Dynamics.
    15. Guner, Nezih & Ventura, Gustavo & Yi, Xu, 2006. "How costly are restrictions on size?," Japan and the World Economy, Elsevier, vol. 18(3), pages 302-320, August.

  33. Chang, Yongsung, 2000. "Comovement, excess volatility, and home production," Journal of Monetary Economics, Elsevier, vol. 46(2), pages 385-396, October.

    Cited by:

    1. Charles Ka Yui Leung & Joe Cho Yiu Ng, 2018. "Macro Aspects of Housing," Globalization Institute Working Papers 340, Federal Reserve Bank of Dallas.
    2. Quoc Hung Nguyen, 2012. "Housing Investment: What Makes It so Volatile? Theory and Evidence from OECD Countries," Working Papers 03, Development and Policies Research Center (DEPOCEN), Vietnam.
    3. Jonathan Heathcote, 2003. "Housing and the Business Cycle," Working Papers gueconwpa~03-03-21, Georgetown University, Department of Economics.
    4. Maria Teresa Punzi, 2013. "Housing Market and Current Account Imbalances in the International Economy," Review of International Economics, Wiley Blackwell, vol. 21(4), pages 601-613, September.
    5. Mark A. Aguiar & Erik Hurst & Loukas Karabarbounis, 2011. "Time Use During Recessions," NBER Working Papers 17259, National Bureau of Economic Research, Inc.
    6. Fang Yang & Michael Dotsey & Wenli Li, 2014. "Home Production and Social Security Reform," Departmental Working Papers 2014-02, Department of Economics, Louisiana State University.
    7. Muñoz, Manuel A., 2020. "Macroprudential policy and the role of institutional investors in housing markets," Working Paper Series 2454, European Central Bank.
    8. Matteo Iacoviello & Stefano Neri, 2010. "Housing Market Spillovers: Evidence from an Estimated DSGE Model," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(2), pages 125-164, April.
    9. Leung, Charles Ka Yui, 2022. "Housing and Macroeconomics," MPRA Paper 115500, University Library of Munich, Germany.
    10. Monika Piazzesi & Martin Schneider, 2016. "Housing and Macroeconomics," NBER Working Papers 22354, National Bureau of Economic Research, Inc.
    11. Charles Ka-Yui Leung, 2004. "Macroeconomics and Housing: A Review of the Literature," Departmental Working Papers _164, Chinese University of Hong Kong, Department of Economics.
    12. Aguiar, M. & Hurst, E., 2016. "The Macroeconomics of Time Allocation," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 203-253, Elsevier.
    13. Yongsung Chang & Andreas Hornstein, 2006. "Home production," Working Paper 06-04, Federal Reserve Bank of Richmond.
    14. Alessandro Piergallini, 2020. "Demographic change and real house prices: a general equilibrium perspective," Journal of Economics, Springer, vol. 130(1), pages 85-102, June.
    15. Daniel Fehrle & Johannes Huber, 2020. "Business cycle accounting for the German fiscal stimulus program during the Great Recession," Working Papers 197, Bavarian Graduate Program in Economics (BGPE).
    16. Kausik Gangopadhyay & Juan Carlos Hatchondo, 2009. "The behavior of household and business investment over the business cycle," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 95(Sum).
    17. Jonas D. M. Fisher, 2007. "Why Does Household Investment Lead Business Investment over the Business Cycle?," Journal of Political Economy, University of Chicago Press, vol. 115(1), pages 141-168.
    18. Marco Guerrazzi, 2011. "Search And Stochastic Dynamics In The Old Keynesian Economics: A Rationale For The Shimer Puzzle," Metroeconomica, Wiley Blackwell, vol. 62(4), pages 561-586, November.
    19. Nguyen, Quoc Hung, 2018. "Revisiting housing and the business cycle," Journal of Housing Economics, Elsevier, vol. 41(C), pages 85-92.
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