Evidence on Macroeconomic Complementarities

Datos Bibliográficos

ID19313633
AutoresRussell Cooper, John Haltiwanger (0000-0001-6164-6938)
Año1996
Volumen78
Número1
Páginas78
Fecha de publicación1996-02-01
Open AccessNo
TipoARTICLE
RevistaThe Review of Economics and Statistics (JOURNAL)
Identificadores de la revistaISSN: 0034-6535 • E-ISSN: 1530-9142
EditorialJSTOR (PUBLISHER)
DOI10.2307/2109849
OpenAlexW2890836317
IdiomaEN
Citas recibidas9

This paper provides empirical evidence on macroeconomic complementarities, a restriction on the nature of interaction between individuals in a multi-agent setting. These models imply that activities across agents will be positively correlated, that discrete decisions will be synchronized and that disturbances will be magnified and propagated. The paper shows that these implications are consistent with aggregate observations as well as some microeconomic evidence. Further, looking at certain historical episodes, such as the NIRA, as well as seasonal fluctuations provides additional support for models with macroeconomic complementarities

Aggregate (composite) · Econometrics · Economics · Empirical evidence · Macroeconomic model · Macroeconomics · Complex Systems and Time Series Analysis · Economic theories and models · Experimental Behavioral Economics Studies

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