Disasters Everywhere: The Costs of Business Cycles Reconsidered
Disasters Everywhere: The Costs of Business Cycles Reconsidered
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London: Palgrave Macmillan UK
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Language
English
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Publisher
London: Palgrave Macmillan UK
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Contents
Rare disaster models assume that growth is afflicted by a negative-mean and left-skewed component, which, if eliminated, could produce first-order welfare gains, unlike other models of business cycle costs. This paper introduces a new test to show that many if not most business cycles are asymmetric in this way, and resemble “mini-disasters” in add...
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Full title
Disasters Everywhere: The Costs of Business Cycles Reconsidered
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TN_cdi_gale_infotracmisc_A790789048
Permalink
https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_gale_infotracmisc_A790789048
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ISSN
2041-4161
E-ISSN
2041-417X
DOI
10.1057/s41308-023-00221-y
