NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Publications by Bernd Lucke

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Working Papers and Chapters

April 2010Letting Different Views about Business Cycles Compete
with Paul Beaudry
in NBER Macroeconomics Annual 2009, Volume 24, Daron Acemoglu, Kenneth Rogoff and Michael Woodford, editors
May 2009Letting Different Views about Business Cycles Compete
with Paul Beaudry: w14950
There are several candidate explanations for macro-fluctuations. Two of the most common discussed sources are surprise changes in disembodied technology and monetary innovations. Another popular explanation is found under the heading of a preference or more generally a demand shock. More recently two other explanations have been advocated: surprise changes in investment specific technology and news about future technology growth. The aim of this paper is to provide a quantitative assessment of the relative merits of all these explanations by adopting a framework which allows them to compete. In particular, we propose a co-integrated SVAR approach that encompasses all 5 shocks and thereby offers a coherent evaluation of the dynamics they induce as well as their contribution to macro volatil...

Contact and additional information for this authorAll publicationsWorking Papers only

 
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