Publication Date
2016
Document Type
Dissertation/Thesis
First Advisor
Campbell, Carl M., III
Degree Name
Ph.D. (Doctor of Philosophy)
Legacy Department
Department of Economics
LCSH
Business cycles; Equilibrium (Economics); Labor market--Economic aspects
Abstract
The purpose of this dissertation is to explain several phenomena in business cycles. The first chapter serves to introduce the aims and methods of the subsequent chapters. Chapter 2 incorporates empirical methodology and a proposed dynamic stochastic general equilibrium (DSGE) model with Epstein-Zin preferences and several real rigidities to investigate and explain the differing effects of surprise and anticipated government spending shocks. Chapter 3 studies the implication of asset pricing under news-driven business cycles. This chapter achieves a desirable equity premium and risk-free rate under news-driven business cycles with a lower relative risk aversion (RRA) and an intertemporal elasticity of substitution (IES) slightly larger than one. Chapter 4 addresses aggregate labor market fluctuations through a proposed family-labor-supply model with efficient leisure in the real business cycle (RBC) frame to capture the facts of aggregate labor market fluctuations.
Recommended Citation
Zhao, Ningru, "Essays in business cycles" (2016). Graduate Research Theses & Dissertations. 2905.
https://huskiecommons.lib.niu.edu/allgraduate-thesesdissertations/2905
Extent
ix, 103 pages
Language
eng
Publisher
Northern Illinois University
Rights Statement
In Copyright
Rights Statement 2
NIU theses are protected by copyright. They may be viewed from Huskie Commons for any purpose, but reproduction or distribution in any format is prohibited without the written permission of the authors.
Media Type
Text
Comments
Advisors: Carl Campbell.||Committee members: Ai-ru Cheng; Maria Ponomareva; George Slotsve.||Includes bibliographical references.||Includes illustrations.