A Theory of Efficient Business Cycles and Unemployment
AbstractThis paper introduces job-shifting costs and durable producer goods into a framework with consumer-producers, economies of specialized learning by doing and transaction costs, developed by Yang and Borland  to explore the intimate relationship among the following three phenomena simultaneously: (1) Long-run endogenous, efficient, and regular business cycles, (2) Long-run endogenous, efficient and cyclical unemployment, and (3) Long-run and endogenous growth.
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Bibliographic InfoPaper provided by Harvard - Institute for International Development in its series Papers with number 634.
Length: 36 pages
Date of creation: 1998
Date of revision:
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Postal: CAER Project, Harvard Institute for International Development, 14 Story Street, Cambridge MA 02138O
Web page: http://www.hiid.harvard.edu/
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Find related papers by JEL classification:
- E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
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