Comments on Farmer and Guo's "the econometrics of indeterminacy: an applied study."

I argue that Farmer and Guo's one-sector real business cycle model with indeterminacy and sunspots fails empirically and that its failure is inherent in the logic of the model taken together with some simple labor market facts.

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Year of publication:	1995
Authors:	Aiyagari, S. Rao
Institutions:	Federal Reserve Bank of Minneapolis
Subject:	Business cycles \| Econometric models

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Extent:	application/pdf
Series:	Staff Report.
Type of publication:	Book / Working Paper
Notes:	Number 196
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005498500