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

Research output: Contribution to journalArticle

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Abstract

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

Original languageEnglish (US)
Pages (from-to)1337-1352
Number of pages16
JournalJournal of Monetary Economics
Volume55
Issue number8
DOIs
StatePublished - Nov 1 2008

Keywords

  • Impulse response
  • Real business cycle
  • Technology shocks
  • Vector autoregressions

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