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A Theory of Supply Function Choice and Aggregate Supply
Social Science Research NetworkModern theories of aggregate supply are built on the foundation that firms set prices and commit to producing whatever the market demands. We remove this strategic restriction and allow firms to choose supply functions, mappings that describe the prices ...
Joel Flynn +2 more
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Uncertainty and the Economy: The Evolving Distributions of Aggregate Supply and Demand Shocks
Social Science Research NetworkWe estimate the time-varying distribution of aggregate supply (AS) and aggregate demand (AD) shocks. We distinguish between traditional Gaussian uncertainty and “bad” uncertainty, associated with negative skewness.
G. Bekaert +2 more
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Household Balance Sheets, Consumption, and the Economic Slump*
, 2013Atif R. Mian, K. Rao, Amir Sufi
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International Business Cycles: World, Region, and Country-Specific Factors
, 2003M. Ayhan Kose +6 more
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