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The Cyclical Behavior of Marginal Cost and Price
The author examines the cyclical behavior of price/marginal cost margins for U.S. manufac turing after 1956. Short-run marginal cost is markedly procyclical. This is primarily due to procyclicalExpand
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Real Wages over the Business Cycle: Evidence from Panel Data
  • Mark Bils
  • Economics
  • Journal of Political Economy
  • 1 August 1985
One topic on which Keynes did not disagree with classical economists was the cyclical behavior of real wages. Keynes (1936) as well as various classical writers predicted that real wages should moveExpand
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What Inventory Behavior Tells Us About Business Cycles
Manufacturers' finished goods inventories move less than shipments over the business cycle. We argue that this requires marginal cost to be more procyclical than is conventionally measured. WeExpand
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Some Evidence on the Importance of Sticky Prices
We examine the frequency of price changes for 350 categories of goods and services covering about 70% of consumer spending, based on unpublished data from the BLS for 1995 to 1997. Compared withExpand
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Cyclical factor utilization
We introduce procyclical labor and capital utilization, as well as costs of rapidly increasing employment, into a business-cycle model. Plausible variations in factor utilization enable us to explainExpand
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Pricing in a Customer Market
In standard pricing models, movements in demand are partially offset by price responses. In a customer market, however, price markups may decrease with high demand. Thus, price may magnify, ratherExpand
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Worker Heterogeneity and Endogenous Separations in a Matching Model of Unemployment Fluctuations
We model worker heterogeneity in the rents from being employed in a Diamond-Mortensen-Pissarides model of matching and unemployment. We show that heterogeneity, reflecting differences in matchExpand
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Does Schooling Cause Growth or the Other Way Around?
Barro (1991) and others find that growth and schooling are highly correlated across countries, with each additional year of 1960 enrollment associated with about .6% per year faster growth in perExpand
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[How Large Are Human-Capital Externalities? Evidence from Compulsory Schooling Laws]: Comment
  • Mark Bils
  • Economics
  • NBER Macroeconomics Annual
  • 1 January 2000
Moretti, E. (1999). Estimating the external return to education: Evidence from repeated cross-sectional and longitudinal data. Department of Economics, University of California, Berkeley. Mimeo.Expand
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Using Consumer Theory to Test Competing Business Cycles Models
Consumer theory suggests that expenditures on luxuries and durables should be more cyclical than expenditures on necessities and nondurables. Estimating luxuriouseness and durability for 57 consumerExpand
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