Table 3 Business-cycle moments Data... | Emerald Publishing

Table 3

Business-cycle moments

	Data	Model	Benchmark model
	Data	(With calvo wages)	(w/o rigidities)
$σ_{y}$	0.05	0.05	0.05
$σ_{c} / σ_{y}$	0.55	0.92	0.84
$σ_{i} / σ_{y}$	1.77	5.25	2.36
$σ_{g} / σ_{y}$	1.21	1.00	1.00
$σ_{h} / σ_{y}$	0.63	0.53	0.29
$σ_{w} / σ_{y}$	0.83	1.49	0.81
$σ_{y / h} / σ_{y}$	0.86	1.49	0.81
$corr (c, y)$	0.85	0.97	0.89
$corr (i, y)$	0.61	0.53	0.80
$corr (g, y)$	0.31	1.00	1.00
$corr (h, y)$	0.49	0.73	0.33
$corr (w, y)$	−0.01	0.94	0.96
$corr (h, y / h)$	−0.14	0.86	0.96

	Data	Model	Benchmark model
	Data	(With calvo wages)	(w/o rigidities)
$σ_{y}$	0.05	0.05	0.05
$σ_{c} / σ_{y}$	0.55	0.92	0.84
$σ_{i} / σ_{y}$	1.77	5.25	2.36
$σ_{g} / σ_{y}$	1.21	1.00	1.00
$σ_{h} / σ_{y}$	0.63	0.53	0.29
$σ_{w} / σ_{y}$	0.83	1.49	0.81
$σ_{y / h} / σ_{y}$	0.86	1.49	0.81
$corr (c, y)$	0.85	0.97	0.89
$corr (i, y)$	0.61	0.53	0.80
$corr (g, y)$	0.31	1.00	1.00
$corr (h, y)$	0.49	0.73	0.33
$corr (w, y)$	−0.01	0.94	0.96
$corr (h, y / h)$	−0.14	0.86	0.96