The business cycle and the life cycle

Paul Gomme, Richard Rogerson, Peter Rupert () and Randall Wright

No 404, Working Papers (Old Series) from Federal Reserve Bank of Cleveland

Abstract: The paper documents how cyclical fluctuations in market work vary over the life cycle and then assesses the predictions of a life-cycle version of the growth model for those observations. The analysis yields a simple but striking finding. The main discrepancy between the model and that data lies in the inability of the model to account for fluctuations in hours for individuals in the first half of their life cycle. The predictions for those in the latter half of the life cycle are quite close to the data.

Keywords: Business cycles; Hours of labor (search for similar items in EconPapers)
Date: 2004
New Economics Papers: this item is included in nep-dge and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (47)

Downloads: (external link)
https://doi.org/10.26509/frbc-wp-200404 Persistent link
https://www.clevelandfed.org/-/media/project/cleve ... e-life-cycle-pdf.pdf Full text (application/pdf)

Related works:
Chapter: The Business Cycle and the Life Cycle (2005)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedcwp:0404

Ordering information: This working paper can be ordered from

DOI: 10.26509/frbc-wp-200404

Access Statistics for this paper

More papers in Working Papers (Old Series) from Federal Reserve Bank of Cleveland Contact information at EDIRC.
Bibliographic data for series maintained by 4D Library ().