Evidence on macroeconomic complementarities
1993
Cooper, Russell W. | Haltiwanger, John C.
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.
Show more [+] Less [-]AGROVOC Keywords
Bibliographic information
Publisher National Bureau of Economic Research, | Cambridge, MA. : National Bureau of Economic Research, [1993]
This bibliographic record has been provided by National Agricultural Library