Wang, Pengfei; Wen, Yi - Federal Reserve Bank of St. Louis - 2007
Wang
Department of Economics
Hong Kong University of Science and Technology
Clear Water Bay, Hong Kong
Yi Wen
Research …-444-8731. Email: yi.wen@stls.frb.org.
1
1 Introduction
A well-accepted set of stylized facts of the business cycle includes: 1 … spirits) are the main driving force of the business cycle. A major challenge to this wis-
dom, however, is to model autonomous …