Please use this identifier to cite or link to this item:
https://hdl.handle.net/2440/53614
Type: | Journal article |
Title: | Hours and effort variation in sunspot-based business cycle theory |
Author: | Weder, M. |
Citation: | Economics Bulletin, 2008; 5(12):1-12 |
Publisher: | Economics Bulletin |
Issue Date: | 2008 |
ISSN: | 1545-2921 1545-2921 |
Statement of Responsibility: | Mark Weder |
Abstract: | This paper analyzes the role of variable work effort in inducing sunspot equilibria in real business cycle models. Not only is it demonstrated that variable workers’ work intensity reduces the degree of increasing returns that is needed to generate indeterminacy but it is also shown that this can be done without assuming a very elastic supply of labor. |
Keywords: | E3 E0 Indeterminacy |
Published version: | http://www.economicsbulletin.com/ |
Appears in Collections: | Aurora harvest 5 Economics publications |
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