Search Results

No results found.

(refine search)
SORT BY: PREVIOUS / NEXT
Author:Wong, Arlene 

Working Paper
Trading down and the business cycle

The authors document two facts: First, during recessions consumers trade down in the quality of the goods and services they consume. Second, the production of low-quality goods is less labor intensive than that of high-quality goods. Therefore, when households trade down, labor demand falls, increasing the severity of recessions. The authors find that the trading-down phenomenon accounts for a substantial fraction of the fall in U.S. employment in the recent recession. They study two business cycle models that embed quality choice and find that the presence of quality choice magnifies the ...
FRB Atlanta CQER Working Paper , Paper 2015-5

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

E2 1 items

E3 1 items

E4 1 items

FILTER BY Keywords

PREVIOUS / NEXT