Smith, Gregor W.; Zin, Stanley E. - Economics Department, Queen's University - 1997
Much recent business cycle research focuses on moments of macroeconomic aggregates. We construct examples of real … business cycle sample paths for output, consumption, and employment for the U.S. economy. Annual sample paths are generated …, calibrated, one-sector model of the business cycle. Quarterly sample paths are generated similarly, from an initial condition in …