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Vol. 78, No. 4
Posted 1996-07-01

Nominal Stylized Facts of U.S. Business Cycles

by Apostolos Serletis and David Krause

The authors investigate the basic nominal stylized facts of business cycles in the United States, using monthly data from 1960:1 to 1993:4 and the methodology suggested by Kydland and Prescott (1990). They make comparisons among simple sum and Divisia aggregates, using the Thornton and Yue (1992) series of Divisia monetary aggregates, and they investigate the robustness of the results to relevant nonstochastic stationarity-inducing transformations.

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