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- W1566935044 abstract "The standard real business cycle model fails to adequately account for two facts found in the U.S. data: the fact that hours worked fluctuate considerably more than productivity and the fact that the correlation between hours worked and productivity is close to zero. In this paper, in a unified framework, the authors describe and analyze four extensions of the standard model, by introducing nonseparable leisure, indivisible labor, government spending, and household production." @default.
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- W1566935044 date "1992-03-01" @default.
- W1566935044 modified "2023-09-25" @default.
- W1566935044 title "The Labor Market in Real Business Cycle Theory" @default.
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- W1566935044 doi "https://doi.org/10.21034/qr.1621" @default.
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