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The relative importance of aggregate and disaggregate shocks in Korean business cycles

โœ Scribed by Gi Choon Kang; Peter F. Orazem

Book ID
114341614
Publisher
Elsevier Science
Year
2003
Tongue
English
Weight
185 KB
Volume
14
Category
Article
ISSN
1049-0078

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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