作者：Canova, F
作者单位：Pompeu Fabra University; Universita di Modena e Reggio Emilia; Centre for Economic Policy Research - UK
摘要：This paper examines the business cycle properties of a small set of a real US macroeconomic time series using a variety of detrending methods. It is shown that both quantitatively and qualitatively 'stylized facts' of US business cycles vary widely across detrending methods and that alternative detrending filters extract different types of information from the data. Implications and suggestions for current macroeconomic practice are provided. (C) 1998 Elsevier Science B.V. All rights reserved.
作者：Salyer, KD; Sheffrin, SM
作者单位：University of California System; University of California Davis
摘要：This paper adds financial assests to Roger Farmer's business cycle model with increasing returns and self-fulfilling beliefs. By using information from the financial markets in conjunction with the structure of the model, we can uncover from financial data the belief shocks that drive the model. Specifically, we assume that belief shocks drive both economic fluctuations and asset returns. The financial market information allows us to identify these shocks. We use our methods to generate dynami...
