Demand Shocks that Look Like Productivity Shocks

Kjetil Storesletten, José-Víctor Ríos-Rull and Yan Bai

No 99, 2011 Meeting Papers from Society for Economic Dynamics

Abstract: The use of competitive search protocols in final goods allows for the specification of models where demand shocks generate propagations that look like productivity shocks. In such environments there is a role for expansion of public expenditures during recessions. We investigate the empirical and quantitative validity of model economies with these properties.

Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed011:99

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