Malley, James R.; Woitek, Ulrich - 2009
: Real Business Cycle, Bayesian estimation, VARMA errors
JEL codes: C11, C52, E32
∗We would like to thank seminar … output variation explained by the real business cycle model is two stan-
dard errors less than the point estimate of 90%, for … (2005,
p. 1380) proclaim that “the original technology-driven real business cycle
hypothesis does appear to be dead”. These …