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Does Asymmetry of International Shocks Matter for the U.S. Business Cycle?

โœ Scribed by Edward N. Gamber; Juann H. Hung


Book ID
111744147
Publisher
Oxford University Press
Year
2004
Tongue
English
Weight
227 KB
Volume
42
Category
Article
ISSN
0095-2583

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The goal of this paper is to examine the relative importance of permanent and transitory shocks in explaining variations in macroeconomic aggregates for the UK at business cycle horizons. Using the common trend-common cycle restrictions, we estimate a variance decomposition of shocks, and find that