Understanding Expectation‐Driven Fluctuations: A Labor‐Market Approach
统一分析了新古典模型在预期未来技术冲击下产生预期驱动商业周期的能力，指出劳动力市场均衡结构是决定模型能否产生正向共动的关键，为理解文献和构建新模型提供了简单直观的指南。
This paper presents a unified analysis of neoclassical models that can generate expectation‐driven business cycles under anticipated future technology shocks (or news shocks). It shows that the ability or inability of various RBC models to generate positive comovement of aggregate variables hinges crucially on the structure of the labor market equilibrium. The analysis provides a simple and intuitive guide to understanding the existing literature and to searching for new models that can explain the data under news shocks.