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Giorgio E. Primiceri and
Ernst Schaumburg ()
NBER Working Papers from National Bureau of Economic Research, Inc
Disturbances affecting agents intertemporal substitution are the key driving force of macroeconomic fluctuations. We reach this conclusion exploiting the bond pricing implications of an estimated general equilibrium model of the U.S. business cycle with a rich set of real and nominal frictions.
JEL-codes: E30 E32 E44 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge and nep-mac
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Related works: Working Paper: Intertemporal disturbances (2006) This item may be available elsewhere in EconPapers: Search for items with the same title.
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