Campbell, Carl M., III
Ph.D. (Doctor of Philosophy)
Department of Economics
Business cycles; Equilibrium (Economics); Labor market--Economic aspects
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.
Zhao, Ningru, "Essays in business cycles" (2016). Graduate Research Theses & Dissertations. 2905.
ix, 103 pages
Northern Illinois University
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