Productivity shocks and real business cycles☆
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This paper has evolved from Chapter 2 of my Carnegie Mellon Ph.D. dissertation. I thank my committee members, Bennett McCallum (chairman), Martin Eichenbaum, Albert Marcet, and also Toni Braun, Robert Clower, Finn Kydland, the editors of this Journal, and an anonymous referee for helpful comments. I alone am responsible for any errors. The views expressed in this paper are solely those of the author and do not necessarily represent those of the Federal Reserve Bank of Chicago or the Federal Reserve System.
Copyright © 1992 Published by Elsevier B.V.