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Granger Causality and Equilibrium Business Cycle Theory

Resource Type
Dataset : survey data
  • Yi, Wen (Federal Reserve Bank of St. Louis)
Other Title
  • Archival Version (Subtitle)
Publication Date
Funding Reference
  • Federal Reserve Bank of St. Louis. Research Division
Free Keywords
business cycles; consumption
  • Abstract

    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.
  • Table of Contents


    • DS1: Dataset
Geographic Coverage
  • United States
Collection Mode
  • (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.

This version of the study is no longer available on the web. If you need to acquire this version of the data, you have to contact ICPSR User Support (
Alternative Identifiers
  • 1345 (Type: ICPSR Study Number)
  • Is previous version of
    DOI: 10.3886/ICPSR01345.v1
  • Yi, Wen. Granger causality and equilibrium business cycle theory. Federal Reserve Bank of St. Louis Review.89, (3), 195-206.2007.

Update Metadata: 2015-08-05 | Issue Number: 6 | Registration Date: 2015-06-15

Yi, Wen (2007): Granger Causality and Equilibrium Business Cycle Theory. Archival Version. Version: v0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset.