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Unanticipated movements in aggregate demand and the business cycle:Results from variance decompositions

Authors
Journal
Economics Letters
0165-1765
Publisher
Elsevier
Publication Date
Volume
2
Issue
2
Identifiers
DOI: 10.1016/0165-1765(79)90159-9
Disciplines
  • Economics

Abstract

Abstract What fraction of the variance in real economic activity over the business cycle is attributable to the variance of unanticipated movements in aggregate demand? This note reports calculations, based on a previous contribution by Lucas, aimed at answering this controversial question.

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