caa a22 4500 397544650 CHVBK 20180308164735.0 cr unu---uuuuu 161202e199607 xx s 000 0 eng 10.2307/2297891 doi (NATIONALLICENCE)oxford-10.2307/2297891 Ríos-Rull José-Víctor Federal Reserve Bank of Minneapolis Life-Cycle Economies and Aggregate Fluctuations [Elektronische Daten] [José-Víctor Ríos-Rull] Do the implications for business cycle issues change when we switch from studying infinitely-lived, representative-agent models to more sophisticated demographic structures with finitely lived agents? This article addresses that question by using a large, overlapping-generations model that is calibrated to U.S. demographic properties, microeconomic evidence, and National Income and Product Accounts. The finding is that the answers obtained are basically the same for the two kinds of models. The article also explores the relative volatility of hours across age groups, an issue that cannot be addressed by using the infinitely-lived, representative-agent abstraction. © 1996 The Review of Economic Studies Limited The Review of Economic Studies Wiley-Blackwell 63/3(1996-07), 465-489 0034-6527 63:3<465 1996 63 restud https://doi.org/10.2307/2297891 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.2307/2297891 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Ríos-Rull José-Víctor Federal Reserve Bank of Minneapolis NATIONALLICENCE 773 0- The Review of Economic Studies Wiley-Blackwell 63/3(1996-07), 465-489 0034-6527 63:3<465 1996 63 restud Metadata rights reserved CC BY-NC-4.0 http://creativecommons.org/licenses/by-nc/4.0 nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-oxford