TY  - JOUR
AU  - King,Robert G.
AU  - Plosser,Charles I.
TI  - Real Business Cycles and the Test of the Adelmans
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 3160
PY  - 1989
Y2  - November 1989
UR  - http://www.nber.org/papers/w3160
L1  - http://www.nber.org/papers/w3160.pdf
N1  - Author contact info:
Robert King
Department of Economics
Boston University
270 Bay State Road
Boston, MA  02215
Tel: 617/353-5941
E-Mail: rking@bu.edu

Charles I. Plosser
President
Federal Reserve Bank of Philadelphia
Ten Independence Mall
Philadelphia, PA 19106
Tel: 215/574-6432
Fax: 585/442-7069
E-Mail: charles.plosser@phil.frb.org
AB  - This paper conducts a modern variant of the test proposed and carried out by Adelman and Adelman (1959). Using the methods developed by Burns and Mitchell (1946). we see if we can distinguish between the economic series generated by an actual economy and those analogous artificial series generated by a stochastically perturbed economic model. In the case of the Adelmans, the model corresponded to the Klein-Goldberger equations. In our case, the model corresponds to a simple real business cycle model. The results indicate a fairly high degree of coincidence in key economic aggregates between the business cycle characteristics identified in actual data and those found in our simulated economy.
ER  -