SERLETIS, APOSTOLOS; GOGAS, PERIKLIS - In: Journal of Money, Credit and Banking 46 (2014) 1, pp. 229-241
King et al. ([King, Robert G., 1991]) evaluate the empirical relevance of a class of real business cycle models with permanent productivity shocks by analyzing the stochastic trend properties of postwar U.S. macroeconomic data. They find a common stochastic trend in a three‐variable system...