LEADER 04362oam 22011054 450 001 9910162924003321 005 20230808201428.0 010 $a1-4755-6916-5 010 $a1-4755-6919-X 035 $a(CKB)3710000001045064 035 $a(MiAaPQ)EBC4800265 035 $a(IMF)WPIEA2016241 035 $a(EXLCZ)993710000001045064 100 $a20020129d2016 uf 0 101 0 $aeng 135 $aurcnu|||||||| 181 $2rdacontent 182 $2rdamedia 183 $2rdacarrier 200 10$aOutput and Inflation Co-movement : $eAn Update on Business-Cycle Stylized Facts /$fMichal Andrle, Jan Bruha, Serhat Solmaz 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2016. 215 $a1 online resource (38 pages) $cillustrations (some color), graphs, tables 225 1 $aIMF Working Papers 311 $a1-4755-6032-X 320 $aIncludes bibliographical references. 330 3 $aWhat are the drivers of business cycle fluctuations? And how many are there? By documenting strong and predictable co-movement of real variables during the business cycle in a sample of advanced economies, we argue that most business cycle fluctuations are driven by one major factor. The positive co-movement of real output and inflation convincingly argues for a demand story. We propose a simple statistic that can compare data and models. Based on this statistic, we show that the recent vintage of structural economic models has difficulties replicating the stylized facts we document. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2016/241 606 $aBusiness cycles 606 $aBanks and Banking$2imf 606 $aEconometrics$2imf 606 $aInflation$2imf 606 $aMacroeconomics$2imf 606 $aMoney and Monetary Policy$2imf 606 $aEconometric and Statistical Methods: General$2imf 606 $aBusiness Fluctuations$2imf 606 $aCycles$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aPrice Level$2imf 606 $aDeflation$2imf 606 $aPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)$2imf 606 $aMonetary Policy$2imf 606 $aEconometric Modeling: General$2imf 606 $aInterest Rates: Determination, Term Structure, and Effects$2imf 606 $aEconomic growth$2imf 606 $aMonetary economics$2imf 606 $aEconometrics & economic statistics$2imf 606 $aFinance$2imf 606 $aBusiness cycles$2imf 606 $aInflation targeting$2imf 606 $aEconometric models$2imf 606 $aShort term interest rates$2imf 606 $aPrices$2imf 606 $aMonetary policy$2imf 606 $aEconometric analysis$2imf 606 $aFinancial services$2imf 606 $aInterest rates$2imf 607 $aUnited States$2imf 615 0$aBusiness cycles. 615 7$aBanks and Banking 615 7$aEconometrics 615 7$aInflation 615 7$aMacroeconomics 615 7$aMoney and Monetary Policy 615 7$aEconometric and Statistical Methods: General 615 7$aBusiness Fluctuations 615 7$aCycles 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aPrice Level 615 7$aDeflation 615 7$aPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data) 615 7$aMonetary Policy 615 7$aEconometric Modeling: General 615 7$aInterest Rates: Determination, Term Structure, and Effects 615 7$aEconomic growth 615 7$aMonetary economics 615 7$aEconometrics & economic statistics 615 7$aFinance 615 7$aBusiness cycles 615 7$aInflation targeting 615 7$aEconometric models 615 7$aShort term interest rates 615 7$aPrices 615 7$aMonetary policy 615 7$aEconometric analysis 615 7$aFinancial services 615 7$aInterest rates 676 $a338.542 700 $aAndrle$b Michal$01197035 701 $aBruha$b Jan$01450949 701 $aSolmaz$b Serhat$01450950 801 0$bDcWaIMF 906 $aBOOK 912 $a9910162924003321 996 $aOutput and Inflation Co-movement$93650693 997 $aUNINA