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Solving the L abor Market Puzzles

Solving the L abor Market Puzzles. Lectures 4 and 5. The indivisible hours assumptions (based on Hansen 85 and Rogerson 88). Expected utility in period t is given by: Calibration:. Quantitative assessment. Shock on public expenditures (based on Christiano and Eichenbaum 92).

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Solving the L abor Market Puzzles

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  1. Solving the Labor Market Puzzles Lectures 4 and 5

  2. The indivisible hours assumptions (based on Hansen 85 and Rogerson 88) Expected utility in period t is given by: Calibration:

  3. Quantitative assessment

  4. Shock on public expenditures (based on Christiano and Eichenbaum 92) • Utility function • Calibration

  5. Quantitative assessment

  6. Shock on preferences(based on Baxter and King 91) • Utility function • Equilibrium on the goods market

  7. Impulse response to a preference shock

  8. Quantitative assessment

  9. Labor hoarding

  10. Response to a positive technological shock

  11. Response to a positive government expenditure shock

  12. Quantitative assessment Selected second moments

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