Welfare cost of business cycles
In macroeconomics, the cost of business cycles is the decrease in social welfare, if any, caused by business cycle fluctuations. Nobel economist Robert Lucas proposed measuring the cost of business cycles as the percentage increase in consumption that would be necessary to make a representative consumer indifferent between a smooth, non-fluctuating, consumption trend and one that is subject to business cycles.
primaryTopic
Welfare cost of business cycles
In macroeconomics, the cost of business cycles is the decrease in social welfare, if any, caused by business cycle fluctuations. Nobel economist Robert Lucas proposed measuring the cost of business cycles as the percentage increase in consumption that would be necessary to make a representative consumer indifferent between a smooth, non-fluctuating, consumption trend and one that is subject to business cycles.
has abstract
In macroeconomics, the cost of ...... lower consumption on average.
@en
Link from a Wikipage to an external page
Wikipage page ID
23,150,085
page length (characters) of wiki page
Wikipage revision ID
993,981,087
Link from a Wikipage to another Wikipage
wikiPageUsesTemplate
comment
In macroeconomics, the cost of ...... is subject to business cycles.
@en
label
Welfare cost of business cycles
@en