Arbeitspapier
Real business cycle realizations
Much recent business cycle research focuses on moments of macroeconomic aggregates. We construct examples of real business cycle sample paths for output, consumption, and employment for the U.S. economy. Annual sample paths are generated from an initial condition in 1925, measured technology and government spending shocks since then, and a standard, calibrated, one-sector model of the business cycle. Quarterly sample paths are generated similarly, from an initial condition in 1955. The law of motion for shocks is not parametrized and so decision-rules are estimated by GMM. We compare the paths with actual history graphically and by spectral methods.
- Language
-
Englisch
- Bibliographic citation
-
Series: Queen's Economics Department Working Paper ; No. 1253
- Classification
-
Wirtschaft
Business Fluctuations; Cycles
Macroeconomics: Consumption, Saving, Production, Employment, and Investment: Forecasting and Simulation: Models and Applications
- Subject
-
real business cycles
Solow residuals
US business cycle history
- Event
-
Geistige Schöpfung
- (who)
-
Smith, Gregor W.
Zin, Stanley E.
- Event
-
Veröffentlichung
- (who)
-
Queen's University, Department of Economics
- (where)
-
Kingston (Ontario)
- (when)
-
1997
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Smith, Gregor W.
- Zin, Stanley E.
- Queen's University, Department of Economics
Time of origin
- 1997
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