The Boom and the Depression: A Note on the Identification of Aggregate Supply Shocks

Pekka Sauramo

No 147, Working Papers from Työn ja talouden tutkimus LABORE, Labour Institute for Economic Research LABORE

Abstract: This short paper is a straightforward continuation of Sauramo (1998). The aim of that paper was to analyse the boom of the late eighties and the depression of the early nineties by estimating structural VAR models which were based on the utilization of the traditional aggregate demand aggregate supply framework. These models typically belong to the class of IS-LM models which have been augmented with a Phillips curve.

Pages: 21 pages
Date: 1998-01-01
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