TY  - RPRT
AU  - Portier, Franck
AU  - Puch González, Luis Antonio
PY  - 2005
UR  - https://hdl.handle.net/20.500.14352/56634
AB  - Lucas [1987] has shown that in a representative agent framework, the potential welfare gain from stabilizing consumption around its mean is small. We provide an example and some insight for why Lucas’ measure is an upper bound of the welfare cost of...
LA  - eng
A3  - Instituto Complutense de Análisis Económico. Universidad Complutense de Madrid
KW  - Cost of Business Cycles
KW  - Dynamic General Equilibrium
TI  - It’s a small small welfare cost of fluctuations
TY  - technical report
VL  - 2005
ER  -