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The Econometrics of the General Equilibrium Approach to Business Cycles Author info | Abstract | Publisher info | Download info | Related research | Statistics Kydland, Finn E
Prescott, Edward C
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The founding fathers of the Econometric Society defined econometrics to be quantitative economic theory. A vision of theirs was the use of econometrics to provide quantitative answers to business cycle questions. The realization of this dream required a number of advances in pure theory--in particular, the development of modern general equilibrium theory. The econometric problem is how to use these tools along with measurement to answer business cycle questions. In this essay, the authors review this econometric development and contrast it with the econometric approach that preceded it. Copyright 1991 by The editors of the Scandinavian Journal of Economics.
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Article provided by Blackwell Publishing in its journal Scandinavian Journal of Economics .
Volume (Year): 93 (1991)
Issue (Month): 2 ()
Pages: 161-78
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Handle: RePEc:bla:scandj:v:93:y:1991:i:2:p:161-78Contact details of provider: Web page: http://www.blackwellpublishing.com/journal.asp?ref=0347-0520
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Edward C. Prescott, 1986.
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Finn E. Kydland & Edward C. Prescott, 1990.
"Business cycles: real facts and a monetary myth ,"
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Finn E. Kydland & Edward C. Prescott, 1989.
"Hours and employment variation in business cycle theory ,"
Discussion Paper / Institute for Empirical Macroeconomics
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Other versions: Kydland, Finn E & Prescott, Edward C, 1982.
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"Current Real-Business-Cycle Theories and Aggregate Labor-Market Fluctuations ,"
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"Efficiency Wages and the Real Business Cycle ,"
Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP)
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Rogerson, Richard, 1988.
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Imrohoruglu, Ayse, 1989.
"Cost of Business Cycles with Indivisibilities and Liquidity Constraints ,"
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Paul Gomme & Jeremy Greenwood, 1992.
"On the cyclical allocation of risk ,"
Discussion Paper / Institute for Empirical Macroeconomics
71, Federal Reserve Bank of Minneapolis.
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Other versions:
Gomme, P. & Greenwood, J., 1992.
"On the Cyclical Allocation of Risk ,"
UWO Department of Economics Working Papers
9205, University of Western Ontario, Department of Economics.
Gomme, P. & Greenwood, J., 1993.
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Gomme, Paul & Greenwood, Jeremy, 1995.
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Journal of Economic Dynamics and Control ,
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[Downloadable!] (restricted) Rios-Rull, Jose-Victor, 1996.
"Life-Cycle Economies and Aggregate Fluctuations ,"
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Blackwell Publishing, vol. 63(3), pages 465-89, July.
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Lucas, Robert E, Jr & Rapping, Leonard A, 1969.
"Real Wages, Employment, and Inflation ,"
Journal of Political Economy ,
University of Chicago Press, vol. 77(5), pages 721-54, Sept./Oct.
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Bennett T. McCallum, 1990.
"Real Business Cycle Models ,"
NBER Working Papers
2480, National Bureau of Economic Research, Inc.
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Frain, John, 1995.
"Econometrics and Truth ,"
Research Technical Papers
2/RT/95, Central Bank & Financial Services Authority of Ireland (CBFSAI).
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Fabio Canova & Eva Ortega, 1996.
"Testing Calibrated General Equilibrium Models ,"
Economics Working Papers
166, Department of Economics and Business, Universitat Pompeu Fabra.
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Spanos, Aris, 2008.
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Robert G. King, 1995.
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Uhlig, H., 1995.
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Anais do XXXI Encontro Nacional de Economia [Proceedings of the 31th Brazilian Economics Meeting]
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Finn E. Kydland & Edward C. Prescott, 1994.
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Finn E. Kydland & Edward C. Prescott, 1994.
"The computational experiment: an econometric tool ,"
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[Downloadable!] Kydland, Finn E & Prescott, Edward C, 1996.
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Robert G. King & Sergio T. Rebelo, 2000.
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[Downloadable!] (restricted) Martha Misas Arango & Enrique López Enciso & Diego Vásquez Escobar, 2004.
"Tendencias Estocásticas Comunes y Fluctuaciones en la Economía Colombiana: 1950-2002 ,"
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Howitt, Richard & Reynaud, Arnaud & Msangi, Siwa & Knapp, Keith, 2002.
"Calibrated Stochastic Dynamic Models for Resource Management ,"
2002 Annual meeting, July 28-31, Long Beach, CA
19620, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
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