The Volatility of Consumption in a Simple General Equilibrium Model

The Volatility of Consumption in a Simple General Equilibrium Model
This paper studies the volatility of consumption relative to output in the context of a simple general equilibrium model of a small open economy subject to exogenous shocks in productivity. With infinite horizons and exogenous relative prices, the model generates variance estimates that are well above what can be observed in empirical data.... READ MORE...

Publication date: December 1992
ISBN 9781451946130
$15.00

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