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Labor Markets and Business Cycles by Robert Shimer

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Appendix A

Data

Although this book focuses on the behavior of the labor wedge, I also discuss the comovement of a number of other macroeconomic time series. Each of these has an empirical counterpart.

Output y. I use a quantity-weighted measure of real gross domestic product from National Income and Product Accounts Table 1.1.3, line 1. I express this in per capita terms, dividing by the population series from Prescott et al. (2008).

Consumption c. I use a quantity-weighted measure of real consumption of nondurables and services from National Income and Product Accounts Table 1.1.3, lines 5 and 6. I express this in per capita terms, dividing by the population series from Prescott et al. (2008).

Recruiter-unemployment ratio θ. I proxy the number ...

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