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Granger Causality and Equilibrium Business Cycle Theory (ICPSR 1345)

Principal Investigator(s):

Summary:

Postwar United States data show that consumption growth 'Granger-causes' output and investment growth, which is puzzling if technology is the driving force of the business cycle. The author asks whether general equilibrium models with information frictions and non-technology shocks can rationalize the observed causal relationships. His conclusion is they cannot.

Access Notes

  • These data are flagged as replication datasets and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.

  • These data are freely available.

Dataset(s)

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Data:

Study Description

Citation

Yi, Wen. Granger Causality and Equilibrium Business Cycle Theory. ICPSR01345-v1. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2007-05-16. http://doi.org/10.3886/ICPSR01345.v1

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Funding

This study was funded by:

  • Federal Reserve Bank of St. Louis. Research Division

Scope of Study

Subject Terms:   business cycles, consumption

Geographic Coverage:   United States

Data Collection Notes:

(1) In the zipped package that is released are both a data and a program file. (2) These data are part of ICPSR's Publication-Related Archive and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigators if further information is desired.

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