| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w1932 |
| 来源ID | Working Paper 1932 |
| Do Equilibrium Real Business Cycle Theories Explain Post-War U.S. Business Cycles? | |
| Martin S. Eichenbaum; Kenneth J. Singleton | |
| 发表日期 | 1986-05-01 |
| 出版年 | 1986 |
| 语种 | 英语 |
| 摘要 | This paper presents and interprets some new evidence on the validity of the Real Business Cycle approach to business cycle analysis. The analysis is conducted in the context of a monetary business cycle model which makes explicit one potential link between monetary policy and real allocations. This model is used to interpret Granger causal relations between nominal and real aggregates. Perhaps the most striking empirical finding is that money growth does not Granger cause output growth in the context of several multivariate VARs and for various sample periods during the post war period in the U.S. Several possible reconciliations of this finding with both real and monetary business cycles models are discussed. We find that it is difficult to reconcile our empirical results with the view that exogenous monetary shocks were an important independent source of variation in output growth. |
| 主题 | Macroeconomics ; Econometrics |
| URL | https://www.nber.org/papers/w1932 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/559181 |
| 推荐引用方式 GB/T 7714 | Martin S. Eichenbaum,Kenneth J. Singleton. Do Equilibrium Real Business Cycle Theories Explain Post-War U.S. Business Cycles?. 1986. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w1932.pdf（710KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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