Key points are not available for this paper at this time.
These properties are also observed in other countries and time periods. See Kydland and Prescott 1990 for an extended discussion of the postwar U.S. data, and see Blackburn and Ravn 1991 or Backus and Kehoe, forthcoming, for descriptions of other countries and time periods
Hansen et al. (Sun,) studied this question.
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