Construct · 1 fields · 1 citations

welfare cost of business cycles: a standalone construct

One name. One construct. A landmark on the map.

● anchor · a standalone construct Nearest construct by meaning·not indexed
welfare cost ofbusiness cycles1 CONSTRUCTWelfare cost of businessLUCAS · MACROECONOMICS

A single standalone construct; nearby constructs are located against it in the Collider. Tap a field for its definition, unit, and measures.

Macroeconomics

the consumption a representative household would give up to remove all aggregate consumption volatility, estimated to be small.

In macroeconomics, welfare cost of business cycles refers to the consumption a representative household would give up to remove all aggregate consumption volatility, estimated to be small. This meaning comes from Lucas (2003) in American Economic Review.[1]

Unit
Recovery means
Measured by

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Nearby constructs

aggregate3 fields · 6 citationsjingle · one word, three constructsbusiness1 fields · 1 citationsanchor · a standalone constructconsumption3 fields · 5 citationsjingle · one word, three constructs

References

  1. Lucas, R. E. (2003). Macroeconomic Priorities. American Economic Review, 93(1), 1-14. https://doi.org/10.1257/000282803321455133

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