EconPapers    
Economics at your fingertips  
 

Comparing shocks and frictions in US and euro area business cycles: a Bayesian DSGE Approach

Raf Wouters () and Frank Smets

Journal of Applied Econometrics, 2005, vol. 20, issue 2, 161-183

Abstract: This paper estimates a DSGE model with many types of shocks and frictions for both the US and the euro area economy over a common sample period (1974-2002). The structural estimation methodology allows us to investigate whether differences in business cycle behaviour are due to differences in the type of shocks that affect the two economies, differences in the propagation mechanism of those shocks, or differences in the way the central bank responds to those economic developments. Our main conclusion is that each of these characteristics is remarkably similar across both currency areas. Copyright © 2005 John Wiley & Sons, Ltd.

Date: 2005
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (295) Track citations by RSS feed

Downloads: (external link)
http://hdl.handle.net/10.1002/jae.834 Link to full text; subscription required (text/html)
http://qed.econ.queensu.ca:80/jae/2005-v20.2/ Supporting data files and programs (text/html)

Related works:
Working Paper: Comparing Shocks and Frictions in US and Euro Area Business Cycles: A Bayesian DSGE Approach (2004) Downloads
Working Paper: Comparing shocks and frictions in US and euro area business cycles: a Bayesian DSGE approach (2004) Downloads
Working Paper: Comparing shocks and frictions in US and euro area business cycles: a Bayesian DSGE approach (2004) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:jae:japmet:v:20:y:2005:i:2:p:161-183

Ordering information: This journal article can be ordered from
http://www3.intersci ... e.jsp?issn=0883-7252

Access Statistics for this article

Journal of Applied Econometrics is currently edited by M. Hashem Pesaran

More articles in Journal of Applied Econometrics from John Wiley & Sons, Ltd.
Bibliographic data for series maintained by Wiley-Blackwell Digital Licensing ().

 
Page updated 2019-11-16
Handle: RePEc:jae:japmet:v:20:y:2005:i:2:p:161-183