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

Research output: Contribution to journalArticle

93 Citations (Scopus)

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

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Fluctuations
Long-run restrictions
Business cycle theory
Technology shocks
Structural VAR

Keywords

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

Cite this

@article{1683d9ab045c4ee5b0f6ffbf519d0fe6,
title = "Are structural VARs with long-run restrictions useful in developing business cycle theory?",
abstract = "No, unless technology shocks account for virtually all of the fluctuations in output.",
keywords = "Impulse response, Real business cycle, Technology shocks, Vector autoregressions",
author = "Chari, {Varadarajan V} and Kehoe, {Patrick J} and McGrattan, {Ellen R}",
year = "2008",
month = "11",
day = "1",
doi = "10.1016/j.jmoneco.2008.09.010",
language = "English (US)",
volume = "55",
pages = "1337--1352",
journal = "Journal of Monetary Economics",
issn = "0304-3932",
publisher = "Elsevier",
number = "8",

}

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T1 - Are structural VARs with long-run restrictions useful in developing business cycle theory?

AU - Chari, Varadarajan V

AU - Kehoe, Patrick J

AU - McGrattan, Ellen R

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Y1 - 2008/11/1

N2 - No, unless technology shocks account for virtually all of the fluctuations in output.

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

KW - Impulse response

KW - Real business cycle

KW - Technology shocks

KW - Vector autoregressions

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U2 - 10.1016/j.jmoneco.2008.09.010

DO - 10.1016/j.jmoneco.2008.09.010

M3 - Article

AN - SCOPUS:56349121299

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SP - 1337

EP - 1352

JO - Journal of Monetary Economics

JF - Journal of Monetary Economics

SN - 0304-3932

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