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Are structural VARs with long-run restrictions useful in developing business cycle theory?

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  • Chari, V.V.
  • Kehoe, Patrick J.
  • McGrattan, Ellen R.

Abstract

No, unless technology shocks account for virtually all of the fluctuations in output.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Monetary Economics.

Volume (Year): 55 (2008)
Issue (Month): 8 (November)
Pages: 1337-1352

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Handle: RePEc:eee:moneco:v:55:y:2008:i:8:p:1337-1352

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Web page: http://www.elsevier.com/locate/inca/505566

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Keywords: Vector autoregressions Technology shocks Real business cycle Impulse response;

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References

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  1. Matching Theory and Data: Bayesian Vector Autoregression and Dynamic Stochastic General Equilibrium Models
    by Christian Zimmermann in NEP-DGE blog on 2009-09-27 01:45:04
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