EconPapers    
Economics at your fingertips  
 

Can the Kydland--Prescott Model Pass the Cogley--Nason Test?

Patrick Fève and Julien Matheron ()

Working papers from Banque de France

Abstract: This paper quantitatively evaluates the ability of a Kydland and Prescott type model with permanent technology shocks and labor wedges to reproduce output persistence together with persistent impulse response functions of output to permanent and transitory shocks. When calibrated on US labor market features, this model, in which technology shocks account for the bulk of output fluctuations, successfully passes the Cogley and Nason test.

Keywords: RBC Models; Habit Leisure; Labor Wedges; Output Persistence (search for similar items in EconPapers)
JEL-codes: E32 C52 (search for similar items in EconPapers)
Date: 2005
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://publications.banque-france.fr/sites/defaul ... g-paper_125_2005.pdf (application/pdf)

Related works:
Working Paper: Can the Kydland-Prescott Model Pass the Cogley-Nason Test? (2005) 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:bfr:banfra:125

Access Statistics for this paper

More papers in Working papers from Banque de France Banque de France 31 Rue Croix des Petits Champs LABOLOG - 49-1404 75049 PARIS. Contact information at EDIRC.
Bibliographic data for series maintained by Michael brassart ().

 
Page updated 2019-09-11
Handle: RePEc:bfr:banfra:125