Variable effort, business cycles, and economic welfare

DOI10.1016/J.ECONLET.2020.109544zbMath1451.91118OpenAlexW3084394761MaRDI QIDQ2209601

Myungkyu Shim, Minseung Kim

Publication date: 4 November 2020

Published in: Economics Letters (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.econlet.2020.109544

zbMATH Keywords

balanced growth pathreal business cycle modelwelfare cost of business cyclesvariable effort

Mathematics Subject Classification ID

Economic growth models (91B62) Welfare economics (91B15)

Cites Work

• Solving dynamic general equilibrium models using a second-order approximation to the policy function
• Volatility and welfare
• Perturbation solution and welfare costs of business cycles in DSGE models

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