An Adelman-Test for Growth Cycles in West Germany
AbstractThis paper contains a brief description of the methodological approach to economic fluctuations developed by Arthur F. Burns and Wesley C. Mitchell at the National Bureau of Economic Research. Applying this methodology to growth cycles of the West German economy gives rise to a large number of stylized facts which serve as the basis of Adelman tests. Growth cycle implications of two prototypical Real-Business-Cycle models are derived by simulations. Unlike most of the literature, a comparison between model and data statistics produces overwhelming evidence against the Real Business Cycle models.
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Bibliographic InfoArticle provided by Springer in its journal Empirical Economics.
Volume (Year): 22 (1997)
Issue (Month): 1 ()
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- Lena Calahorrano & Philipp an de Meulen, 2011. "Demographics and Factor Flows – A Political Economy Approach," Ruhr Economic Papers 0299, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
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- Alfred Maussner & Julius Spatz, 2003. "Determinants of Business Cycles in Small Scale Macroeconomic Models: The German Case," Kiel Working Papers 1158, Kiel Institute for the World Economy.
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