Correlated Disturbances and U.S. Business Cycles
NBER Working Paper No. 15774
---- Acknowledgments ----
We are especially grateful to Marco Del Negro, Juan Rubio-Ramirez and Frank Schorfheide for helping us significantly improve our method and to Craig Burnside, Lawrence Christiano, Martin Eichenbaum, Alejandro Justiniano, Jonathan Parker, Giorgio Primiceri, Chris Sims, Bent Sorensen, and Mike Woodford for useful comments and discussions. The views expressed in this paper are those of the authors and do not necessarily reflect positions of the Federal Reserve Bank of New York, the Federal Reserve System, or the National Bureau of Economic Research.