ARTICLE IN PRESS
Neoclassical Models in Macroeconomics
G.D.
*
Hansen*,, L.E. Ohanian*,,{
UCLA, Los Angeles, CA, United States
NBER, Cambridge, MA, United States
{
Hoover Institution, Stanford University, Stanford, CA, United States
Contents
1. Introduction 2044
2. The Importance of Low Frequency Components in Macroeconomic Data 2047
2.1 Band-Pass Filtered Quarterly US Data 2049
2.2 Band-Pa ...


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