Research Discussion Paper – RDP 8601 New Classical Models and Unobserved Aggregates
February 1986
- Abstract
- Download the Paper 913KB
Contents
- Introduction
- The Model
- An Application of the Kalman Filter
- Persistence of Expectational Errors and Demand Shocks
- Tests of the New Classical Hypotheses
- Comparison with Other Models
- Conclusions
- Appendix
- References
Endnote
I am grateful to Alan Blinder, Jeffrey Carmichael and John Taylor for helpful comments on earlier versions of the paper. The views expressed herein and any remaining errors are my own and should not be attributed to any of the above or to my employer. [*]