An application of business cycle accounting with misspecified wedges

It is often assumed that wedges evolve according to VAR(1) in the applications of business cycle accounting (BCA). However, recent research finds that the wedges have no VAR(1) representation in many dynamic stochastic general equilibrium (DSGE) economies, and that there might be a misspecification...

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Bibliographic details
Volume: 15
Main Author: Inaba, Masaru
Nutahara, Kengo
Format: Journal Article
Language: English
Place of publication: Elsevier for the Society for Economic Dynamics 2012
published in: Review of Economic Dynamics Vol. 15; no. 2; pp. 265 - 269
Data of publication: 2012
Series: Review of Economic Dynamics
Online Access: available in Bonn?
Database: RePEc
Database information Databases - DBIS