This is a preview. Log in through your library . Abstract Recessions appear to be times when the marginal rate of substitution between goods and workers’ time falls below the marginal product of labor ...

Vol. 4, No. 2/3, Papers and Proceedings of the Twentieth Annual Congress of the European Economic Association (Apr. - May, 2006), pp. 644-655 (12 pages) Investors earn positive excess returns on high ...