Welfare cost of business cycles
id:
welfare-cost-of-business-cycles-307-1935858
title:
Welfare cost of business cycles
text:
In macroeconomics, the cost of business cycles is the decrease in social welfare, if any, caused by business cycle fluctuations. Nobel economist Robert Lucas proposed measuring the cost of business cycles as the percentage increase in consumption that would be necessary to make a representative consumer indifferent between a smooth, non-fluctuating, consumption trend and one that is subject to business cycles. Under the assumptions that business cycles represent random shocks around a trend grow
brand slug:
wiki
category slug:
encyclopedia
description:
original url:
https://en.wikipedia.org/wiki/Welfare_cost_of_business_cycles
date created:
date modified:
2023-12-07T23:02:53Z
main entity:
{"identifier":"Q7980953","url":"https://www.wikidata.org/entity/Q7980953"}
image:
fields total:
13
integrity:
13