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