David N. DeJong
;
Beth F. Ingram
;
Charles H. Whiteman

keynesian impulses versus solow residuals: identifying sources of business cycle fluctuations (replication data)

We employ a neoclassical business-cycle model to study two sources of business-cycle fluctuations: marginal efficiency of investment shocks, and total factor productivity shocks. The parameters of the model are estimated using a Bayesian procedure that accommodates prior uncertainty about their magnitudes; from these estimates, posterior distributions of the two shocks are obtained. The postwar US experience suggests that both shocks are important in understanding fluctuations, but that total factor productivity shocks are primarily responsible for beginning and ending recessions.

Data and Resources

Suggested Citation

DeJong, David N.; Ingram, Beth F.; Whiteman, Charles H. (2000): Keynesian impulses versus Solow residuals: identifying sources of business cycle fluctuations (replication data). Version: 1. Journal of Applied Econometrics. Dataset. http://dx.doi.org/10.15456/jae.2022314.0707875674