How well can business cycle accounting account for business cycles?

研究成果: Article査読

1 被引用数 (Scopus)

抄録

The business cycle accounting method introduced by Chari. Kehoe and McGrattan (2007) is a useful tool to decompose business cycle fluctuations into their contributing factors, However, the model estimated by the maximum likelihood method cannot replicate business cycle moments computed from data. Moment-based estimation might be an attractive alternative if the purpose of the research is to study business cycle properties such as volatility, persistence and cross-correlation of variables instead of a specific business cycle episode.

本文言語English
ページ(範囲)1774-1784
ページ数11
ジャーナルEconomics Bulletin
32
2
出版ステータスPublished - 2012 12 1
外部発表はい

ASJC Scopus subject areas

  • 経済学、計量経済学および金融学(全般)

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