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How much can news shocks account for aggregate fluctuations?
(The University of Edinburgh, 2010-10-06)
Recent studies have highlighted the importance of news shocks in the literature on business cycles, that is, a-priori information that agents receive about future developments in the economy. To examine whether the news ...
Essays on equilibrium unemployment dynamics
(The University of Edinburgh, 2012-06-26)
This thesis is a collection of three essays in which the behaviour of unemployment is studied in different dynamic environments. Throughout, unemployment is understood to be involuntary, arising due to the uncoordinated ...