I am working on an advanced version of the Real Business Cycle theory, RBC, and I want to compare my results with the ones of traditional RBC. So that I need the following time series already generated by RBC researchers: the predicted and actual time series of USA about annual growth rates of GDP, Hours worked, etc.
In other words I need an information about published or unpublished researches containing these time series generated by the RBC method. Just in case, the preliminary draft of my research is attached in the file "NON-STOCHASTIC RBC".
I have managed to find only “ancient” data of this type, published in 1989. This paper “Understanding Real Business Cycles” is attached and contains these data in pages 63-65.
But I failed to “dig out” something more recent,
and I would very much appreciate any help on these time series.
Sincerely yours,
Volodymyr Ryaboshlyk, Ph.D, Fulbright Scholar at the University of Illinois Urbana-Champaign, Center for Innovation Development, CID.
dear Volodymyr Ryaboshlyk
You need to knew about Time Series Stability
First, the stability of the series in the one-dimensional state, the term stability appeared or once associated with the term pseudo regression at Granger & Newbold in 1974, where they generated stable chains through simulation and proved the concept of pseudo-regression where in stable time series the shocks would be temporary and their effect over time would fade as they return to the mean values In the long term, on the other hand, unstable chains, shocks will be permanent elements - and this is the original and real reason behind the necessity of stability of time series.
In the early 1980s, several studies were conducted to prove that time series in macroeconomics are unstable
The best study in this regard is the study of Nelson (1982), which proved that macroeconomic chains are unstable and need to develop standard methods for making the Series stable .
best regards
Dear Professor Falah Khalaf Ali Alrubaie,
Thank you so much for your reply.
Yet, you have interpreted my question as related to the issue of stability.
While I need an information about published or unpublished researches containing the time series of USA about annual growth rates of GDP, Hours worked, etc, which are generated by the Real Business Cycle theory, RBC, method.
Yours sincerely
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