Granger Causality and Equilibrium Business Cycle Theory

Post-war US data show that consumption growth Granger causes output and investment growth. This is puzzling if technology is the driving force of the business cycle. I ask whether general equilibrium models with information frictions and non-technology shocks can rationalize the observed causal relations. My conclusion is they cannot

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Year of publication:	2006
Authors:	Wen, Yi
Publisher:	[S.l.] : SSRN
Subject:	Kausalanalyse \| Causality analysis \| Real-Business-Cycle-Theorie \| Real business cycle model \| Konjunkturtheorie \| Business cycle theory \| Gesamtwirtschaftliche Nachfrage \| Aggregate demand

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Extent:	1 Online-Ressource (17 p)
Series:	FRB of St. Louis Working Paper ; No. 2005-038B
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 2006 erstellt
Other identifiers:	10.2139/ssrn.950976 [DOI]
Classification:	E13 - Neoclassical ; E32 - Business Fluctuations; Cycles
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014053977