Author

Ningru Zhao

Publication Date

2016

Document Type

Dissertation/Thesis

First Advisor

Campbell, Carl M., III

Degree Name

Ph.D. (Doctor of Philosophy)

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.

Comments

Advisors: Carl Campbell.||Committee members: Ai-ru Cheng; Maria Ponomareva; George Slotsve.||Includes bibliographical references.||Includes illustrations.

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

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