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The New Keynesian business cycle achievements and challenges

✍ Scribed by Gaurav Saroliya


Book ID
106301819
Publisher
Springer-Verlag
Year
2007
Tongue
English
Weight
422 KB
Volume
6
Category
Article
ISSN
1617-982X

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We employ a neoclassical business-cycle model to study two sources of business-cycle Β―uctuations: marginal eciency of investment shocks, and total factor productivity shocks. The parameters of the model are estimated using a Bayesian procedure that accommodates prior uncertainty about their magnitud