News about aggregate demand and the business cycle
نویسندگان
چکیده
منابع مشابه
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We show that under indeterminacy aggregate demand shocks are able to explain not only aspects of actual fluctuations that standard RBC models predict fairly well, but also aspects of actual fluctuations that standard RBCmodels cannot explain, such as the hump-shaped, trend reverting impulse responses to transitory shocks found in US output (Cogley and Nason, AER, 1995); the large forecastable m...
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a r t i c l e i n f o JEL classification: C52 C53 E12 E17 Keywords: AS AD IS LM model Econometric modelling Macroeconometrics Simulation Macroeconometric models are often criticised for being too complex and difficult to read in theoretical terms. To overcome these difficulties, Hickman suggested the calculation of a model's implicit aggregate demand/ supply (AD/AS) structure. The method helps ...
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ژورنال
عنوان ژورنال: Journal of Monetary Economics
سال: 2015
ISSN: 0304-3932
DOI: 10.1016/j.jmoneco.2015.01.005