A DSGE model with loss aversion in consumption and leisure: an explanation for business cycles asymmetries
In this chapter, an asymmetric DSGE model is built in order to account for asymmetries in business cycles. One of the most important contributions of this work is the construction of a general utility function which nests loss aversion, risk aversion and habits formation by means of a smooth transit...
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| Formato: | Documento de trabajo (Working Paper) |
| Lenguaje: | Inglés (English) |
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Universidad del Rosario
2014
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| Acceso en línea: | http://repository.urosario.edu.co/handle/10336/10967 |