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  • Search: subject_exact:"Real business cycle model"
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Subject
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Real business cycle model 2,179 Real-Business-Cycle-Theorie 2,165 Theorie 964 Theory 961 Konjunktur 571 Business cycle 569 Schock 455 Shock 455 USA 376 United States 376 Estimation 304 Schätzung 303 Konjunkturtheorie 234 Business cycle theory 230 Productivity 185 Produktivität 185 Technischer Fortschritt 175 Technological change 174 Dynamisches Gleichgewicht 156 Dynamic equilibrium 155 Geldpolitik 115 Business cycle synchronization 112 Konjunkturzusammenhang 112 Monetary policy 111 Investition 108 Investment 108 VAR-Modell 105 VAR model 104 Neoclassical synthesis 98 Neoklassische Synthese 98 Kleine offene Volkswirtschaft 93 Small open economy 93 Emerging economies 90 Schwellenländer 90 Arbeitsmarkt 83 Labour market 83 Private consumption 80 Privater Konsum 80 Zeitreihenanalyse 80 Time series analysis 79
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Online availability
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Free 685 Undetermined 196
Type of publication
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Book / Working Paper 1,191 Article 1,017
Type of publication (narrower categories)
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Article in journal 932 Aufsatz in Zeitschrift 932 Graue Literatur 700 Non-commercial literature 700 Working Paper 658 Arbeitspapier 653 Hochschulschrift 105 Thesis 96 Aufsatz im Buch 76 Book section 76 Collection of articles written by one author 40 Sammlung 40 Systematic review 18 Übersichtsarbeit 18 Collection of articles of several authors 17 Sammelwerk 17 Bibliografie enthalten 13 Bibliography included 13 Dissertation u.a. Prüfungsschriften 9 Commentary 8 Kommentar 8 Konferenzschrift 8 Conference paper 6 Conference proceedings 6 Konferenzbeitrag 6 Aufsatzsammlung 4 Amtsdruckschrift 3 Article 3 Government document 3 Book review 2 Case study 2 Fallstudie 2 Interview 2 Lehrbuch 2 Rezension 2 Textbook 2 Mehrbändiges Werk 1 Mikroform 1 Multi-volume publication 1 Reprint 1
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Language
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English 2,030 German 71 Spanish 33 French 24 Undetermined 17 Italian 14 Portuguese 13 Polish 4 Czech 2 Dutch 1 Slovak 1
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Author
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Christiano, Lawrence J. 41 Eichenbaum, Martin S. 38 Guo, Jang-ting 31 Weder, Mark 29 Lucke, Bernd 26 King, Robert G. 24 Galí, Jordi 22 Boileau, Martin 21 Lindé, Jesper 21 Fève, Patrick 20 Wen, Yi 20 McGrattan, Ellen R. 19 Rebelo, Sérgio 18 Vasilev, Aleksandar 18 Burnside, Craig 17 Ireland, Peter N. 17 Kehoe, Patrick J. 17 Prescott, Edward C. 17 Eichenbaum, Martin 16 Harrison, Sharon G. 16 Collard, Fabrice 15 Farmer, Roger E. A. 15 Donaldson, John B. 14 Fisher, Jonas D. M. 14 Hansen, Gary D. 14 Kydland, Finn E. 14 Plosser, Charles I. 14 Schmitt-Grohé, Stephanie 14 Devereux, Michael B. 13 Evans, George W. 13 McCallum, Bennett T. 13 Normandin, Michel 13 Cooley, Thomas F. 12 Uribe, Martín 12 Woitek, Ulrich 12 Gail, Michael 11 Greenwood, Jeremy 11 Maußner, Alfred 11 Pierrard, Olivier 11 Rabanal, Pau 11
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Institution
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National Bureau of Economic Research 67 Federal Reserve Bank of Cleveland 4 Federal Reserve Bank of San Francisco 4 Federal Reserve Bank of St. Louis 4 Barnard College / Economics Department 3 Center for Economic Analysis <Boulder, Colo.> 3 Rutgers University / Department of Economics 3 Sonderforschungsbereich Quantifikation und Simulation Ökonomischer Prozesse 3 Sveriges Riksbank 3 Economics Institute for Research (SIR), Handelshögskolan i Stockholm 2 Federal Reserve Bank of Richmond 2 Internationaler Währungsfonds / Research Department 2 Université de Genève / Institut de hautes études internationales 2 Boston College / Department of Economics 1 C.E.P.R. Discussion Papers 1 C.V. Starr Center for Applied Economics, Department of Economics 1 Centre de Recerca en Economia Internacional 1 Centre de Recherche en Économie et Statistique (CREST), Groupe des Écoles Nationales d'Économie et Statistique (GENES) 1 Centre for Economic Policy Research 1 Convegno La Dinamica Complessa dell'Economia Italiana: Cicli e Trend <1996, Urbino> 1 Department of Economics, Auburn University 1 Département d'économique, Faculté d'administration 1 Ecole des hautes études commerciales <Lausanne> / Département d'économétrie et d'économie politique 1 Ecole des hautes études commerciales <Montréal> / Institut d'économie appliquée 1 Ekonomiska forskningsinstitutet <Stockholm> 1 Escola de Pós-Graduação em Economia <Rio de Janeiro> 1 European University Institute / Department of Economics 1 Federal Reserve Bank of Chicago 1 Institut für Höhere Studien 1 Institut für Weltwirtschaft 1 Inter-American Development Bank / Research Department 1 International Economic Association / World Congress <17., 2014> 1 Iowa State University / Department of Economics 1 Metropolis-Verlag für Ökonomie Gesellschaft und Politik GmbH 1 Society for Computational Economics - SCE 1 Tinbergen Institute 1 Tinbergen Instituut 1 University of California Davis / Department of Economics 1 University of Colorado Boulder / Department of Economics 1 University of Exeter / Department of Economics 1
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Published in...
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Journal of economic dynamics & control 74 Working paper / National Bureau of Economic Research, Inc. 67 NBER working paper series 64 Journal of monetary economics 59 NBER Working Paper 55 Economics letters 43 Discussion paper / Centre for Economic Policy Research 37 Macroeconomic dynamics 33 Review of economic dynamics 32 Economic modelling 29 Journal of macroeconomics 25 The American economic review 24 European economic review : EER 22 International economic review 19 Journal of international economics 17 Journal of money, credit and banking : JMCB 16 CESifo working papers 15 Journal of international money and finance 14 The Canadian journal of economics 13 Working paper series / Research Department, Federal Reserve Bank of Chicago 13 Staff report / Research Department, Federal Reserve Bank of Minneapolis 12 Volkswirtschaftliche Diskussionsbeiträge 12 CAMA working paper series 11 IMF Working Paper 11 Journal of economic theory 11 Working paper 11 Advances in business cycle research : with application to the French and US economies 10 Applied economics 10 Discussion paper / University of British Columbia, Department of Economics 10 IMF working paper 10 IMF working papers 10 International finance discussion papers 9 Economic theory : official journal of the Society for the Advancement of Economic Theory 8 Rochester Center for Economic Research working paper 8 Carnegie Rochester conference series on public policy : a bi-annual conference proceedings 7 Discussion paper 7 Discussion paper / Institute for Empirical Macroeconomics 7 Discussion papers / Adam Smith Business School, University of Glasgow 7 Diskussionsbeiträge des Fachbereichs Wirtschaftswissenschaft der Freien Universität Berlin 7 Economic review 7
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Source
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ECONIS (ZBW) 2,169 RePEc 17 USB Cologne (EcoSocSci) 14 EconStor 8
Showing 1 - 50 of 2,208
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What are the driving forces of the economic downturn in Korea during COVID-19?
Noh, Sanha; Baek, Ingul - In: The Korean economic review 38 (2022) 2, pp. 285-322
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The anatomy of small open economy trends
Görtz, Christoph; Theodoridis, Konstantinos; … - 2022
Persistent link: https://ebtypo.dmz1.zbw/10012878884
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Stochastic Technical Progress, Nearly Smooth Trends and Distinct Business Cycles
Rotemberg, Julio J. - 2022
This paper investigates whether it is possible to entertain simultaneously two attractive views about US GDP. The first is that long term growth in US GDP is attributable to an empirically plausible specification of random technical progress. The second is that deviations of GDP from a fitted...
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The Behavior of Money, Credit, and Prices in a Real Business Cycle
King, Robert G.; Plosser, Charles I. - 2022
This paper analyzes the interaction of money and the price level with a business cycle that is fully real in origin, adopting a view which differs sharply from traditional theories that assign a significant causal influence to monetary movements. The theoretical analysis focuses on a banking...
Persistent link: https://ebtypo.dmz1.zbw/10013322910
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Liquidity Effects, Monetary Policy, and the Business Cycle
Eichenbaum, Martin; Christiano, Lawrence J. - 2022
This paper presents new empirical evidence to support the hypothesis that positive money supply shocks drive short-term interest rates down. We then present a quantitative, general equilibrium model which is consistent with the hypothesis. The two key features of our model are that (i) money...
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Factor Hoarding and the Propagation of Business Cycles Shocks
Burnside, A. Craig; Eichenbaum, Martin - 2022
This paper analyzes the role of variable capital utilization rates in propagating shocks over the business cycle. To this end we formulate and estimate an equilibrium business cycle model in which cyclical capital utilization rates are viewed as a form of factor hoarding. We find that variable...
Persistent link: https://ebtypo.dmz1.zbw/10013324469
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Credit Frictions and 'Sudden Stops' in Small Open Economies : An Equilibrium Business Cycle Framework for Emerging Markets Crises
Arellano, Cristina; Mendoza, Enrique G. - 2022
Financial frictions are a central element of most of the models that the literature on emerging markets crises has proposed for explaining the Sudden Stop' phenomenon. To date, few studies have aimed to examine the quantitative implications of these models and to integrate them with an...
Persistent link: https://ebtypo.dmz1.zbw/10013324593
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Real Business Cycles and the Lucas Paradigm
Froyen, Richard T.; Waud, Roger N. - 2022
When the Lucas paradigm is generalized to include real effects, the effects of real factors and monetary factors on the business cycle are always interrelated. Furthermore, in such models monetary factors can affect the long-run behavior or real output, contrary to the commonly held view that...
Persistent link: https://ebtypo.dmz1.zbw/10013324628
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A cautionary tale of fat tails
Dave, Chetan; Dressler, Scott J.; Malik, Samreen - 2022
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Investment and business cycles : focusing on firms' capital adjustment costs
Nam, Changwoo - In: KDI-journal of economic policy 44 (2022) 1, pp. 77-98
This paper empirically verifies that the types of capital adjustment costs serve as an important mechanism in relation to investment decision- making after confirming that the investment dispersion of Korean firms is pro-cyclical and can affect busin ess cycles. Specifically, it is found through...
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Shock persistence, uncertainty and news-driven business cycles
Lee, Kevin; Shields, Kalvinder; Turnip, Guido - 2022
This paper considers the macroeconomic effects of shocks with different persistence properties identified from surveys of expectations. Using a GARCH-in-Mean model for the US, we present persistence profiles to illustrate how news about events occurring over different time frames plays different...
Persistent link: https://ebtypo.dmz1.zbw/10013290119
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The Own-Price of Money and a New Channel of Monetary Transmission
Belongia, Michael T.; Ireland, Peter N. - 2022
Traditionally, the effects of monetary policy actions on output are thought to be transmitted via monetary or credit channels. Real business cycle theory, by contrast, highlights the role of real price changes as a source of revisions in spending and production decisions. Motivated by the desire...
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Shock persistence, uncertainty and news-driven business cycles
Lee, Kevin; Shields, Kalvinder K.; Turnip, Guido - 2022
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Idiosyncratic Shocks and Aggregate Fluctuations in an Emerging Market
Sandri, Damiano; Grigoli, Francesco; Luttini, Emiliano - 2022
This paper provides the first assessment of the contribution of idiosyncratic shocks to aggregate fluctuations in an emerging market using confidential data on the universe of Chilean firms. We find that idiosyncratic shocks account for more than 40 percent of the volatility of aggregate sales....
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How powerful are Real Business Cycle models for explaining fluctuations in Spain and the UK?
Andres-Escayola, Erik - 2022
This thesis aims to assess the predictions of standard neoclassical Real Business Cycle models for Spain and the United Kingdom by comparing statistical moments that describe real business cycles and the empirical moments. For this, I present the neoclassical theory of business cycles and its...
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Alternative Explanations of the Money-Income Correlation
Bernanke, Ben - 2022
Standard explanations of the bivariate correlation of money and income attribute this correlation to an inability of agents to discriminate in the short run between real and nominal sources of price shocks. This paper is an empirical comparison of the standard explanation with two alternatives:...
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Labor Market Volatility in a Fully Specified RBC Search Model : An Analytical Investigation
Tsasa, Jean-Paul - 2022
Using computational methods, Atolia, Gibson, and Marquis (2018) (AGM) show that the Hagedorn and Manovskii's (2008) (HM) calibration strategy fails to solve the Shimer puzzle in a fully specified Real Business Cycle (RBC) search model. A fully specified RBC search model refers to a...
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Asset Prices and Business Cycles with Liquidity Shocks
Nezafat, Pedram; Slavík, Ctirad - 2022
We develop a production based asset pricing model with financially constrained firms to explain the observed high equity premium and low risk-free rate volatility. Investment opportunities are scarce and firms face productivity and liquidity shocks. A negative liquidity shock forces firms to...
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Income Business Cycles
Dany-Knedlik, Geraldine; Kriwoluzky, Alexander; Pasch, … - 2022
We document the cyclical behavior of the post-tax income distribution in the US. The analysis is based on a dataset that is informative for the lower and the upper tail of the post-tax income distribution and that also matches aggregate national income. Most importantly, lower and higher income...
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Investment and Business Cycles : Focusing on Firms’ Capital Adjustment Costs
Nam, Changwoo - 2022
This paper empirically verifies that the types of capital adjustment costs serve as an important mechanism in relation to investment decision-making after confirming that the investment dispersion of Korean firms is pro-cyclical and can affect business cycles. Specifically, it is found through...
Persistent link: https://ebtypo.dmz1.zbw/10013294993
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The Propagation of Worldwide Sector-Specific Shocks
Izquierdo, Mario; Moral-Benito, Enrique; Prades, Elvira; … - 2022
This paper analyses the aggregate impact of industry-specific shocks and their propagation through global production networks. We focus on the case in which a common shock affects simultaneously the same industry across different countries. Thus, our analysis can be a useful tool for several...
Persistent link: https://ebtypo.dmz1.zbw/10013295180
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Business cycles with cyclical returns to scale
Hyun, Jay; Kim, Ryan; Lee, Byoungchan - 2022
We study business cycles with cyclical returns to scale. Contrary to tightly parameterized production functions (Cobb-Douglas and Constant Elasticity of Substitution), we empirically identify strong input complementarity that leads to procyclical returns to scale. We therefore propose a flexible...
Persistent link: https://ebtypo.dmz1.zbw/10013260122
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A real-business-cycle model with endogenous discounting and a government sector
Vasilev, Aleksandar - In: Notas económicas 54 (2022), pp. 71-84
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Split personalities : the changing nature of technology shocks
Görtz, Christopher; Gunn, Christopher M. - 2022
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Business Cycles as Collective Risk Fluctuations
Olkhov, Victor - 2022
Forecasting of business cycles and description of fluctuations of different variables are of great importance for economic policy and development. We model macroeconomics as system of economic agents. Aggregations of agents’ variables as credits, investment, demand and etc., define...
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Costly default and asymmetric real business cycles
Fève, Patrick; Sanchez, Pablo Garcia; Moura, Alban; … - 2019
Persistent link: https://ebtypo.dmz1.zbw/10012212198
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Costly default and asymetric real business cycles
Fève, Patrick; García, Pablo; Moura, Alban; Pierrard, … - 2019
Persistent link: https://ebtypo.dmz1.zbw/10012182382
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Costly default and asymmetric real business cycles
Fève, Patrick; Garcia Sanchez, Pablo; Moura, Alban; … - 2019
Persistent link: https://ebtypo.dmz1.zbw/10012154396
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Sectoral Solow Residuals
Burnside, A. Craig; Eichenbaum, Martin; Rebelo, Sergio T. - 2021
This paper presents capital utilization corrected measures of technology shocks for aggregate and disaggregated (two digit Standard Industrial Classification code) industries. We correct for variations in capital utilization by employing industrial electrical use as a measure of capital...
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Trends in Hours, Balanced Growth, and the Role of Technology in the Business Cycle
Galí, Jordi - 2021
The present paper revisits a property embedded in most dynamic macroeconomic models: the stationarity of hours worked. First, I argue that, contrary to what is often believed, there are many reasons why hours could be nonstationary in those models, while preserving the property of balanced...
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The Cowles Commission Approach, Real Business Cycle Theories, and New Keynesian Economics
Fair, Ray C. - 2021
The Cowles Commission approach is reviewed and compared to the approaches of real business cycle (RBC) theorists and new Keynesian economists. It is argued that RBC models are not tested in a serious enough way and that the new Keynesian literature is not empirical enough for testing even to be...
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A Capital Market in an Equilibrium Business Cycle Model
Barro, Robert J. - 2021
Previous equilibrium "business cycle" models are extended by the incorporation of an economy-wide capital market. One aspect of this ex-tension is that the relative price that appears in commodity supply and demand functions becomes an anticipated real rate of return on earning assets, rather...
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Real Business Cycle Theory : Wisdom or Whimsy?
Eichenbaum, Martin - 2021
This paper assesses the empirical plausibility of the view that aggregate productivity shocks account for most of the variability in post World War II US output. We argue that the type of evidence forwarded by proponents of this proposition is too fragile to be believable. First, our confidence...
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Is Theory Really Ahead of Measurement? Current Real Business Cycle Theories and Aggregate Labor Market Fluctuations
Christiano, Lawrence J.; Eichenbaum, Martin - 2021
In the l93Os, Dunlop and Tarshis observed that the correlation between hours and wages is close to zero. This classic observation has become a litmus test by which macroeconomic models are judged. Existing real business cycle models fail this test dramatically. Based on this result, we argue...
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Estimating Sectoral Cycles Using Cointegration and Common Features
Issler, João Victor; Engle, Robert F. - 2021
This paper investigates the degree of short run and long run comovement in U.S. sectoral output data by estimating sectoral trends and cycles. A theoretical model based on Long and Plosser (1983) is used to derive a reduced form for sectoral output from first principles. Cointegration and common...
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Real Business Cycles : a New Keynesian Perspective
Mankiw, N. Gregory - 2021
This paper is a critique of the latest new classical theory of economic fluctuations. According to this theory, the business cycle is the natural and efficient response of the economy to exogenous changes in the available production technology. This paper discusses several versions of this...
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Recent Developments in Monetary Policy Analysis : The Roles of Theory and Evidence
McCallum, Bennett T. - 2021
Both academic thinking about monetary economics and the practice of monetary policy have changed dramatically since 1971-1973, when the rational expectations revolution was beginning and the Bretton Woods system was crumbling. The present paper considers whether the various changes that have...
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Is the Technology-Driven Real Business Cycle Hypothesis Dead?
Francis, Neville; Ramey, Valerie A. - 2021
In this paper, we re-examine the recent evidence that technology shocks do not produce business cycle patterns in the data. We first extend Gal¡'s (1999) work, which uses long-run restrictions to identify technology shocks, by examining whether the identified shocks can be plausibly interpreted...
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The Quantitative Analytics of the Basic Neomonetarist Model
Kimball, Miles S. - 2021
This paper constructs a dynamic macroeconomic model with less- than-perfect price flexibility which has a real side consistent with Real Business Cycle Theory, augmented by investment adjustment costs, increasing returns to scale, and a new, flexible formalization of imperfect competition. A new...
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Do Equilibrium Real Business Cycle Theories Explain Post-War U.S. Business Cycles?
Eichenbaum, Martin; Singleton, Kenneth J. - 2021
This paper presents and interprets some new evidence on the validity of the Real Business Cycle approach to business cycle analysis. The analysis is conducted in the context of a monetary business cycle model which makes explicit one potential link between monetary policy and real allocations....
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International Business Cycles : Theory and Evidence
Backus, David K.; Kehoe, Patrick J.; Kydland, Finn - 2021
We review recent work comparing properties of international business cycles with those of dynamic general equilibrium models, emphasizing two discrepancies between theory and data that we refer to as anomalies. The first is the consumption/output/productivity anomaly: in the data we generally...
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Real Business Cycle Models
McCallum, Bennett T. - 2021
This paper attempts to provide an evaluation of both strengths and weaknesses of the real business cycle (RBC) approach to the analysis of macroeconomic fluctuations. It begins with a description of the basic analytical structure typically employed, one in which individual households make...
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The Right Fit for the Wrong Reasons : Real Business Cycle in an Oil-Dependent Economy
Santos, Miguel - 2021
Venezuela has an oil-dependent economy subject to large exogenous shocks and a rigid labor market. These features go straight to the heart of two weaknesses of real business cycle (RBC) theory widely reported in the literature: neither shocks are volatile enough nor real salaries sufficiently...
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"Liquidation" Cycles : Old-Fashioned Real Business Cycle Theory and the Great Depression
DeLong, J. Bradford - 2021
During the 1929-33 slide into the Great Depression, the Federal Reserve took almost no steps to keep the money supply or the price level stable. Instead, the Federal Reserve acted - disastrously - as if the gathering Great Depression could not be avoided, and was best endured. Such a...
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Technology Shocks in the New Keynesian Model
Ireland, Peter N. - 2021
In the New Keynesian model, preference, cost-push, and monetary shocks all compete with the real business cycle model's technology shock in driving aggregate fluctuations. A version of this model, estimated via maximum likelihood, points to these other shocks as being more important for...
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Emerging Market Business Cycles : The Cycle is the Trend
Aguiar, Mark; Gopinath, Gita - 2021
Business Cycles in emerging markets are characterized by strongly counter-cyclical current accounts, consumption volatility that exceeds income volatility and dramatic sudden stops' in capital inflows. These features contrast with developed small open economies and highlight the uniqueness of...
Persistent link: https://ebtypo.dmz1.zbw/10013244405
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Real Business Cycle Models : Past, Present, and Future
Rebelo, Sergio T. - 2021
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Real Business Cycles and the Test of the Adelmans
King, Robert G.; Plosser, Charles I. - 2021
This paper conducts a modern variant of the test proposed and carried out by Adelman and Adelman (1959). Using the methods developed by Burns and Mitchell (1946). we see if we can distinguish between the economic series generated by an actual economy and those analogous artificial series...
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Optimal Taxation in an RBC Model : A Linear-Quadratic Approach
Benigno, Pierpaolo; Woodford, Michael - 2021
We reconsider the optimal taxation of income from labor and capital in the stochastic growth model analyzed by Chari et al. (1994, 1995), but using a linear-quadratic (LQ) approximation to derive a log-linear approximation to the optimal policy rules. The example illustrates how inaccurate...
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Technology, Employment, and the Business Cycle : Do Technology Shocks Explain Aggregate Fluctuations
Galí, Jordi - 2021
Using data for the G7 countries, I estimate conditional correlations of employment and productivity, based on a decomposition of the two series into technology and non-technology components. The picture that emerges is hard to reconcile with the predictions of the standard Real Business Cycle...
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