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Type: Journal article
Title: Hours and effort variation in sunspot-based business cycle theory
Author: Weder, M.
Citation: Economics Bulletin, 2008; 5(12):1-12
Publisher: Economics Bulletin
Issue Date: 2008
ISSN: 1545-2921
Statement of
Mark Weder
Abstract: This paper analyzes the role of variable work effort in inducing sunspot equilibria in real business cycle models. Not only is it demonstrated that variable workers’ work intensity reduces the degree of increasing returns that is needed to generate indeterminacy but it is also shown that this can be done without assuming a very elastic supply of labor.
Keywords: E3; E0; Indeterminacy
RMID: 0020084368
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Appears in Collections:Economics publications

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