Sterne, Gabriel; Bayoumi, Tamim - In: The Manchester School of Economic & Social Studies 63 (1995) 1, pp. 23-51
Structural vector autoregressions are used to distinguish between transitory (AD) disturbances to output and permanent (AS) disturbances. The results indicate that the two disturbances are of roughly equal importance in explaining fluctuations in growth and inflation across a wide range of OECD...