G2TT
来源类型Discussion paper
规范类型论文
来源IDDP782
DP782 Detrending and Business Cycle Facts
Fabio Canova
发表日期1993-06-30
出版年1993
语种英语
摘要This paper examines the business cycle properties of a small set of real US macroeconomic time series using a variety of detrending methods. It is shown: (i) that both quantitatively and qualitatively `stylized facts' of US business cycles vary widely across detrending methods; (ii) that alternative detrending filters extract different types of information from the original series; and (iii) the qualitative response of consumption, investment, hours and productivity to a typical shock in GNP have, depending on the method used, two types of patterns -- one consistent with a Real Business Cycle model and one consistent with a Neo-Keynesian labour-hoarding story. Implications and suggestions for current macroeconomic practice are also presented.
主题International Macroeconomics
关键词Business cycles Detrending Filters Labour hoarding Stylized facts Technology shocks
URLhttps://cepr.org/publications/dp782
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/529945
推荐引用方式
GB/T 7714
Fabio Canova. DP782 Detrending and Business Cycle Facts. 1993.
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