Title

The Role of Real and Monetary Shocks in Explaining Business Cycle Fluctuations

Document Type

Article

Publication Date

1994

Publication Source

Applied Economics

Abstract

The essay brings empirical evidence to bear on the ability of real and monetary shocks to explain business cycles. Using vector autoregressive techniques it is found that both real and monetary shocks are able to explain substantial portions of the innovations in output and unemployment.

Inclusive pages

831-836

ISBN/ISSN

0003-6846

Publisher

Taylor & Francis

Volume

26

Issue

8

Peer Reviewed

yes