Hansen, G.D.; Ohanian, L.E. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 2043-2130). 2016
addressed within neoclassical models with long-run changes in technologies and government policies. We construct two classes of … models that we compare to raw data, and also to the filtered data: simple neoclassical models , which feature standard … preferences and technologies, rational expectations, and a unique, Pareto optimal equilibrium, and extended neoclassical models …