We propose a simple method to help researchers develop quantitative models of economic
fluctuations. The method rests on the insight that many models are equivalent to a prototype …

This paper analyzes the role of world price shocks–fluctuations in the prices of capital,
intermediate, and primary goods, and in the world real interest rate–in the generation and …

What are the shocks that drive economic fluctuations? I examine technology and money
shocks in some detail, and briefly review the evidence on oil price and credit shocks. I …

Structural Macroeconometrics provides a thorough overview and in-depth exploration of
methodologies, models, and techniques used to analyze forces shaping national …

Our answer: not so well. We reach that conclusion after reviewing recent research on the
role of technology as a source of economic fluctuations. The bulk of the evidence suggests a …

This paper develops a method for combining the power of a dynamic, stochastic, general
equilibrium model with the flexibility of a vector autoregressive time-series model to obtain a …

We document large differences in trend changes in hours worked across OECD countries
between 1956 and 2004. We assess the extent to which these changes are consistent with …

This paper examines the role of external shocks in explaining macroeconomic fluctuations in
African countries. We construct a quantitative, stochastic, dynamic, multi-sector equilibrium …

Standard practice for the estimation of dynamic stochastic general equilibrium (DSGE)
models maintains the assumption that economic variables are properly measured by a …

What explains the correlations between nominal and real variables in the postwar US data?
Are these correlations indicative of significant nominal rigidity? Or do they simply reflect the …