Smets, Frank (contributor); Wouters, Rafael (contributor) - 2007
address a number of key issues in business cycle analysis: What are the sources of business cycle fluctuations? Can the model …ISSN 1561081-0
9 771561 081005
WORKING PAPER SERIES
NO 722 / FEBRUARY 2007
SHOCKS AND FRICTIONS
IN US BUSINESS CYCLES … FRICTIONS
IN US BUSINESS CYCLES
A BAYESIAN
DSGE APPROACH
1
by Frank Smets
2
and Rafael Wouters
3
1 We thank seminar …