... basic data, see Chari, Kehoe, and McGrattan (2006) V V CHARI, P J KEHOE, AND E R MCGRATTAN Coefficient Matrix Q, Where V = QQ Coefficient Matrix P on Lagged States BUSINESS CYCLE ACCOUNTING 801 ... expectations directly, as we did in our earlier work (Chari, Kehoe, and McGrattan (2002)) and then conduct a 798 V V CHARI, P J KEHOE, AND E R MCGRATTAN variety of experiments to determine how the ... wedge has been investigated by McGrattan (1991), Braun (1994), Carlstrom and Fuerst (1997), and Cooper and Ejarque (2000) BUSINESS CYCLE ACCOUNTING 827 CONCLUSIONS AND EXTENSIONS This study is...