Sources of Economic Fluctuations in the United States*
نویسنده
چکیده
There has been much recent discussion ahout the ultimate sources of macroeconomic variability. A number ofauthors attribute most of this variability to only B few sowces, sometimes only one. Although there may be only B few important sources, this is fsr from obvious, since economies seem compliested. The purpose of this paper is to provide qusntitstive estimates of various sowces of vsriability using B U.S. econometric model. Stochastic simulation is used to estimate how much the overall variances of real GNP and the GNP deflator are reduced when various shocks BIG suppressed in the model.
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