| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8984 |
| DP8984 What's News in Business Cycles | |
| Martín Uribe; Stephanie Schmitt-Grohé | |
| 发表日期 | 2012-05-21 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | In the context of a dynamic, stochastic, general equilibrium model, we perform classical maximum-likelihood and Bayesian estimations of the contribution of anticipated shocks to business cycles in the postwar United States. Our identification approach relies on the fact that forward-looking agents react to anticipated changes in exogenous fundamentals before such changes materialize. It further allows us to distinguish changes in fundamentals by their anticipation horizon. We find that anticipated shocks account for about half of predicted aggregate fluctuations in output, consumption, investment, and employment. |
| 主题 | International Macroeconomics |
| 关键词 | Anticipated shocks Bayesian estimation. Sources of aggregate fluctuations |
| URL | https://cepr.org/publications/dp8984 |
| 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/537803 |
| 推荐引用方式 GB/T 7714 | Martín Uribe,Stephanie Schmitt-Grohé. DP8984 What's News in Business Cycles. 2012. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
