| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w10351 |
| 来源ID | Working Paper 10351 |
| Business Cycle Accounting | |
| V.V. Chari; Patrick J. Kehoe; Ellen McGrattan | |
| 发表日期 | 2004-03-08 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | We propose a simple method to help researchers develop quantitative models of economic fluctuations. The method rests on the insight that many models are equivalent to a prototype growth model with time-varying wedges which resemble productivity, labor and investment taxes, and government consumption. Wedges corresponding to these variables -- effciency, labor, investment, and government consumption wedges -- are measured and then fed back into the model in order to assess the fraction of various fluctuations they account for. Applying this method to U.S. data for the Great Depression and the 1982 recession reveals that the effciency and labor wedges together account for essentially all of the fluctuations; the investment wedge plays a decidedly tertiary role, and the government consumption wedge, none. Analyses of the entire postwar period and alternative model specifications support these results. Models with frictions manifested primarily as investment wedges are thus not promising for the study of business cycles. |
| 主题 | Macroeconomics ; Macroeconomic Models |
| URL | https://www.nber.org/papers/w10351 |
| 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/567980 |
| 推荐引用方式 GB/T 7714 | V.V. Chari,Patrick J. Kehoe,Ellen McGrattan. Business Cycle Accounting. 2004. |
| 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 | ||
| w10351.pdf（556KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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