Abstract
Figure 1 plots the logs of actual and trend output for the U.S. economy during 1947-82, and Figure 2 the corresponding percentage deviations from trend of output and hours pf market employment. Output and hours clearly move up and down together with nearly the same amplitudes.
Original language | English (US) |
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Title of host publication | Real business cycles |
Subtitle of host publication | A Reader |
Publisher | Taylor and Francis |
Pages | 83-94 |
Number of pages | 12 |
ISBN (Electronic) | 9781134694792 |
ISBN (Print) | 0415165687 |
DOIs | |
State | Published - Jan 1 2013 |
Externally published | Yes |
ASJC Scopus subject areas
- Economics, Econometrics and Finance(all)
- General Business, Management and Accounting