| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w12647 |
| 来源ID | Working Paper 12647 |
| Two Flaws In Business Cycle Accounting | |
| Lawrence J. Christiano; Joshua M. Davis | |
| 发表日期 | 2006-10-31 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | Using 'business cycle accounting' (BCA), Chari, Kehoe and McGrattan (2006) (CKM) conclude that models of financial frictions which create a wedge in the intertemporal Euler equation are not promising avenues for modeling business cycle dynamics. There are two reasons that this conclusion is not warranted. First, small changes in the implementation of BCA overturn CKM's conclusions. Second, one way that shocks to the intertemporal wedge impact on the economy is by their spillover effects onto other wedges. This potentially important mechanism for the transmission of intertemporal wedge shocks is not identified under BCA. CKM potentially understate the importance of these shocks by adopting the extreme position that spillover effects are zero. |
| 主题 | Econometrics ; Estimation Methods |
| URL | https://www.nber.org/papers/w12647 |
| 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/570309 |
| 推荐引用方式 GB/T 7714 | Lawrence J. Christiano,Joshua M. Davis. Two Flaws In Business Cycle Accounting. 2006. |
| 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 | ||
| w12647.pdf（917KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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