| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7080 |
| DP7080 The Regulation of Entry: A Survey | |
| Simeon Djankov | |
| 发表日期 | 2008-12-08 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | This paper reexamines U.S. business cycle volatility since 1867. We employ dynamic factor analysis as an alternative to reconstructed national accounts. We find a remarkable volatility increase across World War I, which is reversed after World War II. While we can generate evidence of postwar moderation relative to pre-1914, this evidence is not robust to structural change, implemented by time-varying factor loadings. However, we find moderation in the nominal series. Moreover, we reproduce the standard moderation since the 1980s. Our estimates confirm the NIPA data also for the 1930s but support alternative estimates of Kuznets (1952) for World War II. |
| 主题 | International Macroeconomics |
| 关键词 | Dynamic factor analysis U.s. business cycle Volatility |
| URL | https://cepr.org/publications/dp7080 |
| 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/535917 |
| 推荐引用方式 GB/T 7714 | Simeon Djankov. DP7080 The Regulation of Entry: A Survey. 2008. |
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