The Multi-Sector Business Cycle Model and Aggregate Shocks: An Empirical Analysis
The Multi-Sector Business Cycle Model and Aggregate Shocks: An Empirical Analysis
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多部门经济周期模型和总体冲击：实证分析
DOI：
10.1111/j.1468-5876.2004.00296.x
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发表时间：
2004
期刊：
影响因子：
--
通讯作者：
Naohito Abe
中科院分区：
文献类型：
--
作者：
Naohito Abe
本文探讨多部门经济周期模型在日本经济中的适用性。通过动态因素分析，产出波动被分解为总体和部门冲击。结果表明，独立部门冲击比共同冲击更显著，这与Long和Plosser（1983）提出的模型一致。此外，本文还揭示了在20世纪80年代后期所谓的“泡沫”时期，总量冲击的重要性有所增加。
This paper discusses the applicability of a multi-sector business cycle model to the Japanese economy. Through dynamic factor analysis, output fluctuations are broken down into aggregate and sectoral shocks. It is shown that independent sectoral shocks are more significant than common shocks, which is consistent with the model proposed by Long and Plosser (1983). In addition, the paper reveals that the importance of aggregate shocks increased during the so-called "Bubble" period in the late 1980s.