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Article
Nominal Stylized Facts of U.S. Business Cycles
Federal Reserve Bank of St. Louis Review (1996)
  • Apostolos Serletis, University of Calgary
  • David Krause, Bell Canada Enterprises
Abstract

This paper investigates the basic nominal stylized facts of business cycles in the United States using monthly data from 1960:1 to 1993:4 and the methodology suggested by Kydland and Prescott (1990). Comparisons are made among simple-sum and Divisia aggregates using the Thornton and Yue (1992) series of Divisia monetary aggregates. The robustness of the results to (relevant) nonstochastic stationarity-inducing transformations is also investigated.

Disciplines
Publication Date
1996
Citation Information
Apostolos Serletis and David Krause. "Nominal Stylized Facts of U.S. Business Cycles" Federal Reserve Bank of St. Louis Review Vol. 78 (1996)
Available at: http://works.bepress.com/david_krause/5/