Malley, Jim; Woitek, Ulrich - In: Journal of Economic Dynamics and Control 34 (2010) 7, pp. 1214-1232
This paper contributes to the on-going empirical debate regarding the role of the RBC model and in particular of neutral and investment-specific technology shocks in explaining aggregate fluctuations. To achieve this, we estimate the model's posterior density using Bayesian methods. Within this...