THE DYNAMIC EFFECTS OF AGGREGATE DEMAND AND SUPPLY DISTURBANCES - ANOTHER LOOK

被引：13

作者：

CROWDER, WJ

机构：

[1] College of Business, Department of Economics, University of Texas at Arlington, Arlington

来源：

ECONOMICS LETTERS | 1995年 / 49卷 / 03期

关键词：

STRUCTURAL VAR; COINTEGRATION; COMMON TRENDS REPRESENTATION; IDENTIFICATION;

D O I：

10.1016/0165-1765(95)00680-E

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In a recent paper, Blanchard and Quah (American Economic Review, 1989, 79, 655-673) propose a set of restrictions to identify the structural innovations from a reduced-form bivariate model of income growth and unemployment. Given the assumptions made by Blanchard and Quah on the time-series properties of the data, this paper demonstrates that their bivariate model is just a special case of Stock and Watson's Journal of the American Statistical Association, 1988, 83, 1097-1107) common trends representation. More importantly, this alternative representation allows the econometrician to test the long-run restrictions used by Blanchard and Quah to distinguish between demand and supply innovations.

引用

页码：231 / 237

页数：7

共 13 条

[1]

BLANCHARD OJ, 1989, AM ECON REV, V79, P655

[2] INTERPRETING COINTEGRATED MODELS [J].