BUSINESS-CYCLE ANALYSIS WITHOUT MUCH THEORY - A LOOK AT STRUCTURAL VARS

Authors
COOLEY TF DWYER M
Citation
Tf. Cooley et M. Dwyer, BUSINESS-CYCLE ANALYSIS WITHOUT MUCH THEORY - A LOOK AT STRUCTURAL VARS, Journal of econometrics, 83(1-2), 1998, pp. 57-88
Citations number
41
Categorie Soggetti
Social Sciences, Mathematical Methods",Economics,"Mathematics, Miscellaneous","Mathematics, Miscellaneous
Journal title
Journal of econometrics → ACNP
ISSN journal
03044076
Volume
83
Issue
1-2
Year of publication
1998
Pages
57 - 88
Database
ISI
SICI code
0304-4076(1998)83:1-2<57:BAWMT->2.0.ZU;2-R
Abstract
This paper examines the usefulness of applying structural vector autor egressions (SVARs) to the study of business cycles. The SVAR approach aims to provide robust inferences, by imposing only weak theoretical r estrictions. We illustrate that the robustness of conclusions drawn fr om SVAR exercises are questionable. We also examine the problem of ide ntification failure in structural VAR models. (C) 1998 Elsevier Scienc e S.A.