期刊名称：Discussion Papers / School of Business, University of New South Wales
出版年度：2008
卷号：2008
出版社：Sydney
摘要：This paper considers the implications of the permanent/transitory de-
composition of shocks for identi.cation of structural models in the general
case where the model might contain more than one permanent structural
shock. It provides a simple and intuitive generalization of the in.uential
work of Blanchard and Quah (1989), and shows that structural equations
with known permanent shocks can not contain error correction terms, thereby
freeing up the latter to be used as instruments in estimating their parame-
ters. The approach is illustrated by a re-examination of the identi.cation
schemes used by Wickens and Motto (2001), Shapiro and Watson (1988),
King, Plosser, Stock, Watson (1991), Gali (1992, 1999) and Fisher (2006).
