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CYCLICAL SHOCKS IN A MODEL OF EQUILIBRIUM UNEMPLOYMENT |
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| Authors: | HIROAKI MIYAMOTO YOSHIMASA SHIRAI |
| Institution: | 1. University of Wisconsin Madison;2. We thank Professor Makoto Yano for his help in improving the exposition of this paper.;3. Keio University |
| Abstract: | The paper shows a model which displays a procyclical movement of job creation as a rational expectations equilibrium. |
| Keywords: | J64 |