Arbeitspapier
Comparing shocks and frictions in US and euro area business cycles: a Bayesian DSGE approach
This paper estimates a DSGE model with many types of shocks and frictions for both the US and the euro area economy over a common sample period (1974-2002). The structural estimation methodology allows us to investigate whether differences in business cycle behaviour are due to differences in the type of shocks that affect the two economies, differences in the propagation mechanism of those shocks or differences in the way the central bank responds to those economic developments. Our main conclusion is that each of those characteristics is remarkably similar across both currency areas.
- Sprache
-
Englisch
- Erschienen in
-
Series: NBB Working Paper ; No. 61
- Klassifikation
-
Wirtschaft
- Thema
-
DSGE models
business cycle fluctuations
Konjunktur
Geldpolitik
Zentralbank
Schock
Statistischer Test
EU-Staaten
USA
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Smets, Frank
Wouters, Raf
- Ereignis
-
Veröffentlichung
- (wer)
-
National Bank of Belgium
- (wo)
-
Brussels
- (wann)
-
2004
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Smets, Frank
- Wouters, Raf
- National Bank of Belgium
Entstanden
- 2004
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