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| Author: | Hansen, G. |
| Title: | Tests of some business cycle hypotheses under rational expectations. |
| Journal: | Weltwirtschaftliches Archiv
1991 : VOL. 127:3, p. 542-562 |
| Index terms: | BUSINESS CYCLES RATIONAL EXPECTATIONS |
| Language: | eng |
| Abstract: | The author tests - relying on a two equation restricted, reduced form model of production and inflation - the hypotheses of real, neoclassical and Keynesian business cycle. A stable dynamic cointegration system with stochastic trend is defined. The results refute the theories of real business cycles and the neoclassical theory of business cycles. |
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