The Role of Real and Monetary Shocks in Explaining Business Cycle FluctuationsApplied Economics
AbstractThe 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.
PublisherTaylor & Francis
Citation InformationTony Caporale. "The Role of Real and Monetary Shocks in Explaining Business Cycle Fluctuations" Applied Economics Vol. 26 Iss. 8 (1994)
Available at: http://works.bepress.com/tony_caporale/24/