Hansen, G.D.; Ohanian, L.E. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 2043-2130). 2016
This chapter develops a toolkit of neoclassical macroeconomic models, and applies these models to the US economy from 1929 to 2014. We first filter macroeconomic time series into business cycle and long-run components, and show that the long-run component is typically much larger than the...
