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aggregate output level autarky Borland business cycle models buy food comer equilibrium comer solution configuration y/x consumer-producers cycles and unemployment decision horizon discounted indirect utility division of labor durable producer dynamic equilibrium economies of specialized efficient business cycles endowment constraint equilibrium in market equilibrium model fiat money greater in market Hence human capital implies indirect utility function individuals between configurations individuals choosing job-shifting costs level of food market clearing conditions market failure market structure monetary policy money supply negative infinity nominal prices number of individuals persistent business cycles physical labor produce food produce tractors producers of tractors production function productivity implications professional producers real business cycle real variables relative number shifting costs solution for configuration specialized learning sufficiently close sufficiently large tends to negative total discounted indirect total discounted utility tractor producers tractor to produce trade transaction costs transaction efficiency utility equalization condition utility is greater xx/y xy/xy xy/y