How well does the aggregate demand–aggregate supply framework explain unemployment fluctuations? A France–United States comparison
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چکیده
منابع مشابه
Comment on Gali and Rabanal’s “Technology Shocks and Aggregate Fluctuations: How Well Does the RBC Model Fit Postwar U.S. Data?”∗
Gali and Rabanal provide statistical evidence that, in their view, puts into question the real businesscycle paradigm in favor of the sticky-price paradigm. I demonstrate that their statistical procedure is easily misled in that they would reach the same conclusions even if their data had been simulated from an RBC model. I also demonstrate that sticky-price models do a poor job generating U.S....
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ژورنال
عنوان ژورنال: Economic Modelling
سال: 2002
ISSN: 0264-9993
DOI: 10.1016/s0264-9993(00)00068-7