haku: @author Christensen, M. / yhteensä: 5
viite: 3 / 5
Tekijä: | Christensen, M. Paldam, M. |
Otsikko: | Some further international evidence on output-inflation tradeoffs: the Lucas variability hypothesis reexamined |
Lehti: | Weltwirtschaftliches Archiv
1990 : VOL. 126:2, p. 222-238 |
Asiasana: | INFLATION ECONOMIC GROWTH EQUILIBRIUM ANALYSIS |
Kieli: | eng |
Tiivistelmä: | The paper tests on a 24 country sample and two periods (1953-67, the low vairan period and 1968-85, the high variance period) Lucas's business cycle model from 1973, the socalled misperceptions model, which says that an exogenous nominal shift affecting the economy is divided into a real cyclical component and an inflation component. A restricted parameter version is compared to a free parameter version. In final analysis the Lucas model is not corroborated by the data. |
SCIMA