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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP782 |
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 |
URL | https://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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