Aguiar-Conraria, Luís (contributor); Wen, Yi (contributor) - 2005
Business Cycle; Capacity Utilization; Externalities; Monopolistic
Competition; Multiplier-Accelerator.
JEL classi�cation: E32 …) and the neoclassical business-cycle models (see, e.g.,
Hamilton 1988a). Yet, when actual oil prices are used for … improvement of our model over the existing models in explaining the business cycle
in the 1970s, there are obvious limitations to …