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picture1_Business Cycle Pdf 125936 | Hamilton


picture2_Business Cycle Pdf 125936 | Hamilton picture3_Business Cycle Pdf 125936 | Hamilton

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File: Business Cycle Pdf 125936 | Hamilton
What’s Real About the Business Cycle? James D. Hamilton This paper argues that a linear statistical model with homoskedastic errors cannot capture the nineteenth-century notion of a recurring cyclical ...

icon picture PDF Filetype PDF | Posted on 11 Oct 2022 | 2 years ago

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...What s real about the business cycle james d hamilton this paper argues that a linear statistical model with homoskedastic errors cannot capture nineteenth century notion of recurring cyclical pattern in key economic aggregates simple nonlinear alternative is proposed and used to illustrate dynamic behavior unemployment seems change over rate rising more quickly than it falls furthermore many but not all downturns are also accompanied by dramatic short term interest rates suggested these nonlinearities most naturally interpreted as resulting from run failures employment credit markets understanding nature federal reserve bank st louis review july august pp whatis part shift profession concep he describe tion needs be explained process moves sequentially between fluctuations reflects desire integrate deter t minants long growth series clearly identifiable phases causes within recurrent or periodic fashion economists asingle unified theory aggregate per early twentieth centuries were for...
								

							

						
	
												
				
					
					
					
			
					
				
				
		
	

	
		





	

	
				

						

						
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										Category:  Uncategorized / Uncategorized 
										
Posted on: 11 Oct 2022 | 2 years ago
										
										
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Filetype: PDF
										
File size: 0.28 MB
										
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