The Demand for Youth: Implications for the Hours Volatility Puzzle
---- Acknowledgements -----
We thank Manuel Amador, Paul Beaudry, Larry Christiano, Marty Eichenbaum, Valerie Ramey, Sergio Rebelo, Victor Rios-Rull, William Gui Woolston, and numerous workshop participants for helpful comments. Siu thanks the Social Sciences and Humanities Research Council of Canada for financial support. The views in this paper are solely the responsibility of the authors and should not be interpreted as reflecting the views of the Board of Governors of the Federal Reserve System, any other person associated with the Federal Reserve System, or the National Bureau of Economic Research.