Two Flaws In Business Cycle Accounting
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https://www.nber.org/papers/w12647
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Using 'business cycle accounting' (BCA), Chari, Kehoe and McGrattan (2006) (CKM) conclude that models of financial frictions which create a wedge in the intertemporal Euler equation are not promising avenues for modeling business cycle dynamics. There are two reasons that this conclusion is not
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美国国家经济研究局创建时间：
2006-10-01
