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VERSION:2.0
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CALSCALE:GREGORIAN
X-WR-CALNAME:The S. C. Tsiang Macroeconomics Workshop: Arlene Wong
X-WR-TIMEZONE:Eastern Time (US & Canada)
BEGIN:VEVENT
DTSTAMP:20260907T234955Z
UID:tag:localist.com\,2008:EventInstance_2928827
DTSTART:20171026T154000Z
DTEND:20171026T171000Z
DESCRIPTION:Arlene Wong\nPrinceton University\n\n Trading Down and the Busi
 ness Cycle (joint w/Nir Jaimovich & Sergio Rebelo)\n\nWe document two fact
 s. First\, during the Great Recession\, consumers traded down in the quali
 ty of the goods and services they consumed. Second\, the production of low
 -quality goods is less labor intensive than that of high-quality goods.  W
 hen households traded down\, labor demand fell\, increasing the severity o
 f the recession. We find that the trading-down phenomenon accounts for a s
 ubstantial fraction of the fall in U.S. employment in the recent recession
 . We show that embedding quality choice in a business-cycle model improves
  the model's amplification and comovement properties.
GEO:42.447296;-76.482254
LOCATION:Uris Hall\, 498
SUMMARY:The S. C. Tsiang Macroeconomics Workshop: Arlene Wong
URL;VALUE=URI:https://events.cornell.edu/event/macroeconomics_workshop_arle
 ne_wong
CATEGORIES:Class/ Workshop
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