What Do We Learn from Unit Roots in Macroeconomic Time Series?
收藏NBER1987-12-01 更新2025-01-04 收录
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https://www.nber.org/papers/w2450
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It is often argued that the presence of a unit root in aggregate output implies that there is no "business cycle": the economy does not return to trend following a disturbance. This paper makes this notion precise, but then develops a simple aggregative model where this relation is contradicted. In
提供机构：
美国国家经济研究局创建时间：
1987-12-01
