Angeletos, George-Marios; Collard, Fabrice; Dellas, Harris (2020). Business-Cycle Anatomy. American economic review, 110(10), pp. 3030-3070. American Economic Association 10.1257/aer.20181174
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We propose a new strategy for dissecting the macroeconomic time series, provide a template for the business-cycle propagation mechanism that best describes the data, and use its properties to appraise models of both the parsimonious and the medium-scale variety. Our findings support the existence of a main business-cycle driver but rule out the following candidates for this role: technology or other shocks that map to TFP movements; news about future productivity; and inflationary demand shocks of the textbook type. Models aimed at accommodating demand-driven cycles without a strict reliance on nominal rigidity appear promising.
Item Type: |
Journal Article (Original Article) |
|---|---|
Division/Institute: |
03 Faculty of Business, Economics and Social Sciences > Department of Economics |
UniBE Contributor: |
Dellas, Harris |
Subjects: |
300 Social sciences, sociology & anthropology > 330 Economics |
ISSN: |
0002-8282 |
Publisher: |
American Economic Association |
Language: |
English |
Submitter: |
Dino Collalti |
Date Deposited: |
11 Jan 2021 14:11 |
Last Modified: |
05 Dec 2022 15:43 |
Publisher DOI: |
10.1257/aer.20181174 |
BORIS DOI: |
10.48350/150261 |
URI: |
https://boris.unibe.ch/id/eprint/150261 |
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