Browsing EPGE - Ensaios Econômicos by Keyword "welfare costs"
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On the Welfare Costs of Business-Cycle Fluctuations and Economic-Growth Variation in the 20th Century (Escola de Pós-Graduação em Economia da FGV, 2012-02-28)Lucas (1987) has shown a surprising result in business-cycle research: the welfare cost of business cycles are very small. Our paper has several original contributions. First, in computing welfare costs, we propose a ...