The business cycle and the life cycle
By: by Paul Gomme ... [et al.].
Contributors: Gomme, Paul, 1961-
Series: Working paper ;; WP 04-04; Working paper (Federal Reserve Bank of Cleveland : Online) ;; WP 04-04.
Publisher: Federal Reserve Bank of Cleveland
Published: 2004
Place of publication: [Cleveland, Ohio]
Language: eng
Format: Electronic resource
Subjects: Life cycle, Human; Business cycles
Description: "The paper documents how cyclical fluctuations in market work vary over the life cycle and then assesses the predictions of a life-cycle version of the growth model for those observations.  The analysis yields a simple but striking finding.  The main discrepancy between the model and that data lies in the inability of the model to account for fluctuations in hours for individuals in the first half of their life cycle.  The predictions for those in the latter half of the life cycle are quite close to the data"--Federal Reserve Bank of Richmond web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 1/5/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.