Nominal stylized facts of U. S. business cycles
The authors investigate the basic nominal stylized facts of business cycles in the United States, using monthly data from 1960:1 to 1993:4 and the methodology suggested by Kydland and Prescott (1990). They make comparisons among simple sum and Divisia aggregates, using the Thornton and Yue (1992) series of Divisia monetary aggregates, and they investigate the robustness of the results to relevant nonstochastic stationarity-inducing transformations.
Volume (Year): (1996)
Issue (Month): Jul ()
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- Serletis, Apostolos & Koustas, Zisimos, 2001. "Monetary Aggregation and the Neutrality of Money," Economic Inquiry, Western Economic Association International, vol. 39(1), pages 124-38, January.
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