Intertemporal disturbances

Giorgio Primiceri (), Ernst Schaumburg and Andrea Tambalotti ()

No 355, 2006 Meeting Papers from Society for Economic Dynamics

Abstract: Disturbances affecting agents' intertemporal substitution are the key driving force of macroeconomic fluctuations. We reach this conclusion exploiting the asset pricing implications of an estimated general equilibrium model of the U.S. business cycle with a rich set of real and nominal frictions

Keywords: Business Cycle; Fluctuations; Euler equation; shocks; frictions (search for similar items in EconPapers)
JEL-codes: E30 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge and nep-mac
Date: 2006-12-03
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Working Paper: Intertemporal Disturbances (2006)
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Persistent link: http://EconPapers.repec.org/RePEc:red:sed006:355

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