Hysteresis and the Sources of Shocks : A Cross-Country Analysis.

This paper uses a long-run identifying restrictions on a three-variable system containing output growth, real wage growth and the unemployment rate, to isolate three "structural" shocks which drove business cycle fluctuations in a sample of 16 OECD countries during 1950-94.

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Year of publication:	1996
Authors:	Balmaseda, M ; Dolado, J-J ; Lopez-Salido, D
Institutions:	Centro de Estudios Monetarios y Financieros (CEMFI)
Subject:	ECONOMIC GROWTH \| WAGES \| BUSINESS CYCLES \| EXPORTS \| EMPLOYMENT

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Series:	Centro de Estudios Monetarios Y Financieros-.
Type of publication:	Book / Working Paper
Notes:	31 pages
Classification:	O47 - Measurement of Economic Growth; Aggregate Productivity ; O41 - One, Two, and Multisector Growth Models
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005661203