Listagem FGV EPGE - Escola Brasileira de Economia e Finanças por Título "On the welfare costs of business cycles in the 20th century"
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On the welfare costs of business cycles in the 20th century
2003-02Lucas (1987) has shown a surprising result in business-cycle research, that the welfare cost of business cycles are relatively small. Using standard assumptions on preferences and a reasonable reduced form for consumption, ...
