A Business Cycle Model with Keynesian Micro-foundations: The Policy Implications for Unemployment |
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175 periods 1st quartile Max 3rd Quartile Mean actual and simulated actual data aggregate output growth Author Title autocorrelation at higher average business cycle data business cycle models coefficients Cogley and Nason counter-cyclical cross-correlations decisions on output economic Environmental Policy Instruments equations EU Environmental Policy EUI Working Paper European Union European University Institute exogenous shock forecasts Fortune 500 future output growth Global Competition growth of output growth rate Implications for Unemployment individual agents operating Instruments for Environmental interaction ith agent Keynesian Micro-Foundations lags Mean 1st quartile microeconomic model simulations Model with Keynesian normal distribution OECD operating under uncertainty output and sentiment output growth variable output of agent PAUL ORMEROD percentage points periodogram post-war power spectrum qualitative properties Quartile Mean 1st rate of growth RBC models real business cycle Robert Schuman Centre short-term output growth simulated data summary statistics time-series properties XBAR and YBAR XBAR(t zero