Real business-cycle realizations
AbstractMuch recent business cycle research focuses on moments of macroeconomic aggregates. We construct examples of real business cycle sample paths for output, consumption, and employment for the U.S. economy. Annual sample paths are generated from an initial condition in 1925, measured technology and government spending shocks since then, and a standard, calibrated, one-sector model of the business cycle. Quarterly sample paths are generated similarly, from an initial condition in 1955. The law of motion for shocks is not parametrized and so decision-rules are estimated by GMM. We compare the paths with actual history graphically and by spectral methods.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Carnegie-Rochester Conference Series on Public Policy.
Volume (Year): 47 (1997)
Issue (Month): 1 (December)
Contact details of provider:
Web page: http://www.elsevier.com/locate/jme
Other versions of this item:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- William Blankenau & M. Ayhan Kose & Kei-Mu Yi, 1999.
"Can world real interest rates explain business cycles in a small open economy?,"
94, Federal Reserve Bank of New York.
- Blankenau, William & Ayhan Kose, M. & Yi, Kei-Mu, 2001. "Can world real interest rates explain business cycles in a small open economy?," Journal of Economic Dynamics and Control, Elsevier, vol. 25(6-7), pages 867-889, June.
- Ravenna, Federico, 2007.
"Vector autoregressions and reduced form representations of DSGE models,"
Journal of Monetary Economics,
Elsevier, vol. 54(7), pages 2048-2064, October.
- Federico Ravenna, 2006. "Vector autoregressions and reduced form representations of DSGE models," Banco de Espaï¿½a Working Papers 0619, Banco de Espa�a.
- Federico Ravenna, 2005. "Vector Autoregressions and Reduced Form Representations of DSGE Models," 2005 Meeting Papers 841, Society for Economic Dynamics.
- Roman Sustek, 2011.
"Monetary Business Cycle Accounting,"
Review of Economic Dynamics,
Elsevier for the Society for Economic Dynamics, vol. 14(4), pages 592-612, October.
- Roman Sustek, 2010. "Code and data files for "Monetary Business Cycle Accounting"," Computer Codes 09-177, Review of Economic Dynamics.
- Sustek, Roman, 2009. "Monetary Business Cycle Accounting," MPRA Paper 17518, University Library of Munich, Germany.
- M-A. Letendre, 2002.
"Semi-Parametric Predictions of the Intertemporal Approach to the Current Account,"
Department of Economics Working Papers
2002-01, McMaster University.
- Letendre, Marc-Andre, 2004. "Semi-parametric predictions of the intertemporal approach to the current account," Journal of International Economics, Elsevier, vol. 64(2), pages 363-386, December.
- Letendre, Marc-Andre & Smith, Gregor W., 2001.
"Precautionary saving and portfolio allocation: DP by GMM,"
Journal of Monetary Economics,
Elsevier, vol. 48(1), pages 197-215, August.
- Marc-Andre Letendre & Gregor Smith, 2000. "Precautionary saving and portfolio allocation: DP by GMM," Working Papers 1247, Queen's University, Department of Economics.
- William Blankenau and M. Ayhan Kose, 2001.
"How different is the cyclical behavior of home production across countries?,"
Computing in Economics and Finance 2001
117, Society for Computational Economics.
- Blankenau, William & Kose, M. Ayhan, 2007. "How Different Is The Cyclical Behavior Of Home Production Across Countries?," Macroeconomic Dynamics, Cambridge University Press, vol. 11(01), pages 56-78, February.
- M. Ayhan Kose & William Blankenau, 2006. "How Different Is the Cyclical Behavior of Home Production Across Countries?," IMF Working Papers 06/46, International Monetary Fund.
- Ireland, Peter N., 2001. "Technology shocks and the business cycle: On empirical investigation," Journal of Economic Dynamics and Control, Elsevier, vol. 25(5), pages 703-719, May.
- M. Ayhan Kose & Bill Blankenau & Kei-Mu Yi, 1999. "World Real Interest Rates and Business Cycles in Open Economies: a Multiple Shock Approach," Computing in Economics and Finance 1999 1232, Society for Computational Economics.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.