Granger Causality and Equilibrium Business Cycle Theory

Post war US data show that consumption growth causes output and investment growth. This is puzzling if technology is the driving force of the business cycle. I ask whether general equilibrium models driven by demand shocks can rationalize the observed causal relations. My conclusion is that business cycle theory remains behind business cycle measurement.

MoreLess

Year of publication:	2001
Authors:	Wen, Yi
Institutions:	Center for Analytic Economics, Department of Economics

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

Series:	Working Papers.
Type of publication:	Book / Working Paper
Classification:	E13 - Neoclassical ; E32 - Business Fluctuations; Cycles
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005237145