著者

JUNJI YANO

出版者

JAPANESE ECONOMIC ASSOCIATION

雑誌

The Economic Studies Quarterly (ISSN:0557109X)

巻号頁・発行日

vol.44, no.3, pp.233-241, 1993-09-20 (Released:2007-10-19)

参考文献数

22

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Several implications, including those regarding regime change, derived from the equilibrium business cycle models, were applied to evidence from the two pre-war regimes. The neutrality hypothesis was not rejected for both regimes and a comparison of the results was in favor of the Lucas hypothesis on the slope of the Phillips curve. However, some discrepancy concerning the Sargent-Neftci hypothesis remained. Furthermore, the Pesaran test revealed a limitation of the Barro's testing procedure.