Revisiting the Welfare Effects of Eliminating Business Cycles: The case of short-term and long-term unemployment

@inproceedings{Mukoyama2008RevisitingTW,
  title={Revisiting the Welfare Effects of Eliminating Business Cycles: The case of short-term and long-term unemployment},
  author={Toshihiko Mukoyama and Aysegul Sahin and Anthony A. Smith and Per Krusell},
  year={2008}
}
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180 Citations

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This paper analyzes the welfare costs of business cycles when workers face uninsurable job displacement risk. The paper uses a simple macroeconomic model with incomplete markets to show that cyclical…
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This paper analyzes the welfare costs of business cycles when workers face uninsurable idiosyncratic labor income risk. In accordance with the previous literature, this paper decomposes labor income…
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