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Shocks and Frictions in US Business Cycles: A Bayesian DSGE Approach

โœ Scribed by Smets, Frank; Wouters, Rafael

Book ID
115508954
Publisher
American Economic Association
Year
2007
Tongue
English
Weight
501 KB
Volume
97
Category
Article
ISSN
0002-8282

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## Abstract This paper estimates a DSGE model with many types of shocks and frictions for both the US and the euro area economy over a common sample period (1974โ€“2002). The structural estimation methodology allows us to investigate whether differences in business cycle behaviour are due to differen