Del Negro, Marco; Hasegawa, Raiden B.; Schorfheide, Frank - 2014
(responding to the gap in labor market conditions) in the immediate aftermath of the Lehman crisis. …) models, with and without financial frictions, for output growth and inflation in the period 1992 to 2011. We find strong … evidence of time variation in the pool's weights, reflecting the fact that the DSGE model with financial frictions produces …