Alfred Maussner, Julius Spatz

Determinants of Business Cycles in Small Scale Macroeconomic Models: The German Case



Abstract:

We identify measures of shocks to total factor productivity and preferences from two real business cycle models and subject them to Granger causality tests to see whether they can be considered exogenous to other plausible sources of the German business cycle in the mid nineteen seventies and nineteen eighties. We find no evidence to reject the exogeneity of our shock measures. This results contrasts with similar studies for other countries that question the exogeneity of either productivity or preference shocks.
 

JEL: E32, O47

Paper:

Paper available as pdf-file. Beitrag Nr. 213, Volkswirtschaftliche Diskussionsreihe, Institut für Volkswirtschaftslehre der Universität Augsburg

Contact:

Prof. Dr. Alfred Maussner, University of Augsburg, Department of Economics, Universitätsstr. 16, D-86135 Augsburg, Phone +49-821-598-4187/-4188, Fax +49-821-598-4231
E-Mail: alfred.maussner@wiwi.uni-augsburg.de


v. K., 03.12.2001