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Filtering by: Publication Year 1970 to 1979

Business Cycle Modeling Without Much A Priori Economic Theory

Creator:	Sargent, Thomas J. and Sims, Christopher A.
Series:	New methods in business cycle research
Keyword:	Unobservable-index models, Causal orderings, Time series, Observable-index models, and Index models
Subject (JEL):	E32 - Business Fluctuations; Cycles and C58 - Financial Econometrics

Exogeneity and Causal Ordering in Macroeconomic Models

Creator:	Sims, Christopher A.
Series:	New methods in business cycle research
Keyword:	Exogeneity, Granger ordering, Causality, Exogenous, Behavioral ordering, Econometrics, Semantics, Wold ordering, and Structural ordering
Subject (JEL):	C51 - Model Construction and Estimation, C22 - Single Equation Models; Single Variables: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes, and C32 - Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models

New Methods in Business Cycle Research: Proceedings from a Conference [front matter]

Series: New methods in business cycle research

Keyword: Title page, Contents, and Participants

Wage and Price Dynamics in U. S. Manufacturing

Creator:	Geweke, John
Series:	New methods in business cycle research
Abstract:	A simple stochastic model of the firm is constructed in which a dynamic monopolist who maximizes a discounted profits stream subject to labor adjustment costs and given factor prices sets output price as a distributed lag of past wages and input prices. If the observed relation of wages and prices in manufacturing arises solely from this behavior then wages and input prices are exogenous with respect to output prices. In tests using quarterly and monthly series for the straight time wage, an index of raw materials prices and the wholesale price index for manufacturing and its durable and nondurable subsectors this hypothesis cannot be refuted for the period 1955:1 to 1971:11. During the period 1926:1 to 1940:11, however, symmetrically opposite behavior is observed manufacturing wholesale prices are exogenous with respect to the wage rate, a relation which can arise if dynamically monopsonistic firms compete in product markets. Neither structural relation has withstood direct wage and price controls.
Keyword:	Wholesale, Labor, Manufacturing, Prices, and Wages
Subject (JEL):	E32 - Business Fluctuations; Cycles, E31 - Price Level; Inflation; Deflation, and L60 - Industry Studies: Manufacturing: General

Wage and Price Dynamics in U.S. Manufacturing

Creator:	Geweke, John
Series:	New methods in business cycle research
Keyword:	Optimal price, Forecasts, and Firm behavior
Subject (JEL):	E31 - Price Level; Inflation; Deflation and L60 - Industry Studies: Manufacturing: General

New Methods in Business Cycle Research: Proceedings from a Conference [introduction]

Creator:	Sims, Christopher A.
Series:	New methods in business cycle research
Subject (JEL):	C52 - Model Evaluation, Validation, and Selection

Business Cycle Modeling Without Pretending to Have Too Much A Priori Economic Theory

Creator:	Sargent, Thomas J. and Sims, Christopher A.
Series:	New methods in business cycle research
Keyword:	Observable-index models, Causal orderings, Unobservable-index models, Index models, and Time series
Subject (JEL):	E32 - Business Fluctuations; Cycles and C58 - Financial Econometrics

Comments on Time Series Analysis and Causal Concepts in Business Cycle Research

Creator:	Zellner, Arnold
Series:	New methods in business cycle research
Subject (JEL):	C51 - Model Construction and Estimation, C22 - Single Equation Models; Single Variables: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes, C32 - Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models, and C52 - Model Evaluation, Validation, and Selection

Discussion of John Geweke's "Wage and Price Dynamics in U.S. Manufacturing" and Thomas J. Sargent and Christopher A. Sims' "Business Cycle Modeling Without Pretending to Have Too Much A Priori Economic Theory"

Creator:	Gordon, Robert J. (Robert James), 1940-
Series:	New methods in business cycle research
Keyword:	Optimal price, Time series, Unobservable-index models, Index models, Forecasts, Observable-index models, Causal orderings, and Firm behavior
Subject (JEL):	L60 - Industry Studies: Manufacturing: General, E31 - Price Level; Inflation; Deflation, E32 - Business Fluctuations; Cycles, and C58 - Financial Econometrics

Response to Gordon and Ando

Creator:	Sargent, Thomas J.
Series:	New methods in business cycle research
Keyword:	Macroeconomics, Time series, and Causality
Subject (JEL):	C52 - Model Evaluation, Validation, and Selection

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