| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP681 |
| DP681 Stylized Facts of Business Cycles in the G7 from a Real Business Cycles Perspective | |
| Riccardo Fiorito; Tryphon Kollintzas | |
| 发表日期 | 1992-07-30 |
| 出版年 | 1992 |
| 语种 | 英语 |
| 摘要 | This paper investigates the basic stylized facts of business cycles in the G7 countries using quarterly data from 1960-89. The methodology used is based on Kydland and Prescott (1990). The evidence suggests that the real business cycles model can account for several important stylized facts for all seven countries. In particular, consumption is procyclical and fluctuates generally less than output; investment is procyclical and fluctuates more than output; net exports are countercyclical; prices are countercyclical; and money does not have a clear-cut cyclical pattern. Real business cycles models cannot at present account for some basic stylized facts of labour dynamics, however, primarily because they cannot account for variations in total hours and hours per worker. This and other evidence suggests that labour hoarding might, especially in Europe and Japan, be the main force behind employment dynamics. |
| 主题 | International Macroeconomics |
| 关键词 | Adjustment G7 Labour hoarding Real business cycles Variable employment |
| URL | https://cepr.org/publications/dp681 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529847 |
| 推荐引用方式 GB/T 7714 | Riccardo Fiorito,Tryphon Kollintzas. DP681 Stylized Facts of Business Cycles in the G7 from a Real Business Cycles Perspective. 1992. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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