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Can the Mortensen-Pissarides Matching Model Match the Business-Cycle Facts?

✍ Scribed by Harold L. Cole; Richard Rogerson


Book ID
108563720
Publisher
John Wiley and Sons
Year
1999
Tongue
English
Weight
277 KB
Volume
40
Category
Article
ISSN
0020-6598

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Stylized facts of the business cycle in the G7 countries are derived using a stochastic trend model, which allows for structural breaks in the underlying series in various ways. The results are compared to those of Backus and Kehoe's paper (1992) which used the Hoderick -Prescott filter. Numerous st