{"id":"https://openalex.org/W2069097987","doi":"https://doi.org/10.1016/j.red.2009.01.002","title":"Revisiting the welfare effects of eliminating business cycles","display_name":"Revisiting the welfare effects of eliminating business cycles","publication_year":2009,"publication_date":"2009-01-24","ids":{"openalex":"https://openalex.org/W2069097987","doi":"https://doi.org/10.1016/j.red.2009.01.002","mag":"2069097987"},"language":"en","primary_location":{"id":"doi:10.1016/j.red.2009.01.002","doi":"https://doi.org/10.1016/j.red.2009.01.002","is_oa":false,"landing_page_url":"https://doi.org/10.1016/j.red.2009.01.002","pdf_url":null,"source":{"id":"https://openalex.org/S163499366","display_name":"Review of Economic Dynamics","issn_l":"1094-2025","issn":["1094-2025","1096-6099"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-3","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Review of Economic Dynamics","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5059525183","display_name":"Per L. Krusell","orcid":"https://orcid.org/0000-0002-3565-5045","observed_orcids":["https://orcid.org/0000-0002-3565-5045"]},"institutions":[{"id":"https://openalex.org/I20089843","display_name":"Princeton University","ror":"https://ror.org/00hx57361","country_code":"US","type":"education","lineage":["https://openalex.org/I20089843"]},{"id":"https://openalex.org/I4210140326","display_name":"Centre for Economic Policy Research","ror":"https://ror.org/04jzmdh37","country_code":"GB","type":"nonprofit","lineage":["https://openalex.org/I4210140326"]}],"countries":["GB","US"],"is_corresponding":false,"raw_author_name":"Per Krusell","raw_affiliation_strings":["CEPR, United Kingdom","IIES, Sweden","NBER, United States","Princeton University, United States"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"CEPR, United Kingdom","institution_ids":["https://openalex.org/I4210140326"]},{"raw_affiliation_string":"IIES, Sweden","institution_ids":[]},{"raw_affiliation_string":"NBER, United States","institution_ids":[]},{"raw_affiliation_string":"Princeton University, United States","institution_ids":["https://openalex.org/I20089843"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5022573826","display_name":"Toshihiko Mukoyama","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I51556381","display_name":"University of Virginia","ror":"https://ror.org/0153tk833","country_code":"US","type":"education","lineage":["https://openalex.org/I51556381"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Toshihiko Mukoyama","raw_affiliation_strings":["CIREQ, Canada","University of Virginia, United States"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"CIREQ, Canada","institution_ids":[]},{"raw_affiliation_string":"University of Virginia, United States","institution_ids":["https://openalex.org/I51556381"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5101678477","display_name":"Ay\u015feg\u00fcl \u015eahin","orcid":"https://orcid.org/0000-0001-5795-2852","observed_orcids":["https://orcid.org/0000-0001-5795-2852"]},"institutions":[{"id":"https://openalex.org/I43638361","display_name":"Federal Reserve Bank of New York","ror":"https://ror.org/05hwvzg47","country_code":"US","type":"other","lineage":["https://openalex.org/I1317239608","https://openalex.org/I43638361"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Ay\u015feg\u00fcl \u015eahin","raw_affiliation_strings":["Federal Reserve Bank of New York, United States"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Federal Reserve Bank of New York, United States","institution_ids":["https://openalex.org/I43638361"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5103360706","display_name":"Anthony A. Smith","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I32971472","display_name":"Yale University","ror":"https://ror.org/03v76x132","country_code":"US","type":"education","lineage":["https://openalex.org/I32971472"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Anthony A. Smith","raw_affiliation_strings":["Yale University, United States"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Yale University, United States","institution_ids":["https://openalex.org/I32971472"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":5,"corresponding_author_ids":["https://openalex.org/A5103360706"],"corresponding_institution_ids":["https://openalex.org/I32971472"],"apc_list":{"value":3320,"currency":"USD","value_usd":3320},"apc_paid":null,"fwci":29.2609,"has_fulltext":false,"cited_by_count":193,"citation_normalized_percentile":{"value":0.99459437,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":97,"max":100},"biblio":{"volume":"12","issue":"3","first_page":"393","last_page":"404"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.4912000000476837,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.4912000000476837,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.4438000023365021,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.028699999675154686,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/welfare-effects","display_name":"welfare effects","score":0.9620000123977661},{"id":"https://openalex.org/keywords/consumer-heterogeneity","display_name":"consumer heterogeneity","score":0.828000009059906},{"id":"https://openalex.org/keywords/idiosyncratic-uncertainty","display_name":"idiosyncratic uncertainty","score":0.8320000171661377},{"id":"https://openalex.org/keywords/unemployment","display_name":"unemployment","score":0.40700000524520874},{"id":"https://openalex.org/keywords/long-term-unemployment","display_name":"long-term unemployment","score":0.9639999866485596},{"id":"https://openalex.org/keywords/unemployment-insurance","display_name":"unemployment insurance","score":0.8790000081062317},{"id":"https://openalex.org/keywords/employment-transitions","display_name":"employment transitions","score":0.5090000033378601},{"id":"https://openalex.org/keywords/wealth-distribution","display_name":"wealth distribution","score":0.5960000157356262},{"id":"https://openalex.org/keywords/inequality","display_name":"inequality","score":0.7599999904632568}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.8769891262054443},{"id":"https://openalex.org/C2778126366","wikidata":"https://www.wikidata.org/wiki/Q41171","display_name":"Unemployment","level":2,"score":0.8751318454742432},{"id":"https://openalex.org/C30772137","wikidata":"https://www.wikidata.org/wiki/Q5164762","display_name":"Consumption (sociology)","level":2,"score":0.7510270476341248},{"id":"https://openalex.org/C83873408","wikidata":"https://www.wikidata.org/wiki/Q192311","display_name":"Business cycle","level":2,"score":0.718346893787384},{"id":"https://openalex.org/C100243477","wikidata":"https://www.wikidata.org/wiki/Q12002092","display_name":"Welfare","level":2,"score":0.70734703540802},{"id":"https://openalex.org/C45555294","wikidata":"https://www.wikidata.org/wiki/Q28113351","display_name":"Inequality","level":2,"score":0.5080583095550537},{"id":"https://openalex.org/C61797465","wikidata":"https://www.wikidata.org/wiki/Q1188986","display_name":"Term (time)","level":2,"score":0.4926796555519104},{"id":"https://openalex.org/C110121322","wikidata":"https://www.wikidata.org/wiki/Q865811","display_name":"Distribution (mathematics)","level":2,"score":0.49130386114120483},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.4174593389034271},{"id":"https://openalex.org/C182306322","wikidata":"https://www.wikidata.org/wiki/Q1779371","display_name":"Order (exchange)","level":2,"score":0.4154196083545685},{"id":"https://openalex.org/C145236788","wikidata":"https://www.wikidata.org/wiki/Q28161","display_name":"Labour economics","level":1,"score":0.41380399465560913},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.23524373769760132},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.0},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.0},{"id":"https://openalex.org/C144024400","wikidata":"https://www.wikidata.org/wiki/Q21201","display_name":"Sociology","level":0,"score":0.0},{"id":"https://openalex.org/C36289849","wikidata":"https://www.wikidata.org/wiki/Q34749","display_name":"Social science","level":1,"score":0.0},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.0},{"id":"https://openalex.org/C134306372","wikidata":"https://www.wikidata.org/wiki/Q7754","display_name":"Mathematical analysis","level":1,"score":0.0},{"id":"https://openalex.org/C62520636","wikidata":"https://www.wikidata.org/wiki/Q944","display_name":"Quantum mechanics","level":1,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1016/j.red.2009.01.002","doi":"https://doi.org/10.1016/j.red.2009.01.002","is_oa":false,"landing_page_url":"https://doi.org/10.1016/j.red.2009.01.002","pdf_url":null,"source":{"id":"https://openalex.org/S163499366","display_name":"Review of Economic Dynamics","issn_l":"1094-2025","issn":["1094-2025","1096-6099"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-3","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Review of Economic Dynamics","raw_type":"journal-article"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.644.1205","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.644.1205","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://www.newyorkfed.org/research/economists/sahin/kmss.pdf","raw_type":"text"}],"best_oa_location":null,"sustainable_development_goals":[{"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8","score":0.6703000068664551},{"display_name":"No poverty","id":"https://metadata.un.org/sdg/1","score":0.666700005531311}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":21,"referenced_works":["https://openalex.org/W1510259323","https://openalex.org/W1556979268","https://openalex.org/W1569744502","https://openalex.org/W2025492558","https://openalex.org/W2061044658","https://openalex.org/W2069134289","https://openalex.org/W2072932574","https://openalex.org/W2102176436","https://openalex.org/W2107958788","https://openalex.org/W2108052618","https://openalex.org/W2115942365","https://openalex.org/W2129324139","https://openalex.org/W2133653083","https://openalex.org/W2144140941","https://openalex.org/W2165613656","https://openalex.org/W2282064322","https://openalex.org/W2891651158","https://openalex.org/W3123762540","https://openalex.org/W3124906991","https://openalex.org/W4252127857","https://openalex.org/W6636169196"],"related_works":["https://openalex.org/W1507426863","https://openalex.org/W2072932574","https://openalex.org/W7113681110","https://openalex.org/W3124951022","https://openalex.org/W4287511591","https://openalex.org/W7113656502","https://openalex.org/W7097472086","https://openalex.org/W7095598397","https://openalex.org/W3123907880","https://openalex.org/W7100458274"],"abstract_inverted_index":null,"counts_by_year":[{"year":2026,"cited_by_count":7},{"year":2025,"cited_by_count":10},{"year":2024,"cited_by_count":10},{"year":2023,"cited_by_count":8},{"year":2022,"cited_by_count":16},{"year":2021,"cited_by_count":10},{"year":2020,"cited_by_count":4},{"year":2019,"cited_by_count":12},{"year":2018,"cited_by_count":10},{"year":2017,"cited_by_count":12},{"year":2016,"cited_by_count":13},{"year":2015,"cited_by_count":8},{"year":2014,"cited_by_count":7},{"year":2013,"cited_by_count":13},{"year":2012,"cited_by_count":7}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2016-06-24T00:00:00"}