Self-enforcing employment contracts and business cycle fluctuations

Article Abstract:

The risk-sharing employment contracts into an economy in which matching frictions characterize the labour market and in which agents cannot commit is incorporated. Such contracts explain why movements in hours worked appear weakly related to those in real wages in U.S. aggregate data.

Evaluation, Economic conditions, Labor contracts, Labour contracts

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Entrepreneurial activity, risk, and the business cycle

Article Abstract:

A model is analyzed in which the risk associated with entrepreneurial activity implies that the amount of such activity is procyclical and results in amplification and intertemporal propagation of productivity shocks. The business cycle implications of the model are discussed.

Management dynamics, Asset & Risk Management, Venture Analysis, Management, Risk management, Business enterprises, Company business management

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Is the technology-driven real business cycle hypothesis dead? Shocks and aggregate fluctuations revisited

Article Abstract:

A study analyzing the economic impact of technology shocks on business cycle is presented.

Economic aspects, Technological innovations

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