Demand Shocks that Look Like Productivity Shocks
The use of competitive search protocols in final goods allows for the specification of models where demand shocks generate propagations that look like productivity shocks. In such environments there is a role for expansion of public expenditures during recessions. We investigate the empirical and quantitative validity of model economies with these properties.
|Date of creation:||2011|
|Contact details of provider:|| Postal: Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA|
Web page: http://www.EconomicDynamics.org/
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