Description
This book is a compilation of articles that define and develop the real business cycle school of economics. It covers key areas such as the establishment of the real business cycle program, the aims and methods of the real business cycle school, analysis of the statistics and econometrics of the calibration techniques advocated by real business cycle modelers, assessment of the empirical success of the real business cycle model from a variety of methods and perspectives, and assessment of technical change and a critique of Solow's measure in business cycle models.
This volume fills a gap by presenting a collection of the essential articles that define and develop the real business cycle school, as well as those that criticize it. Key areas include: the establishment of the real business cycle program; the aims and methods of the real business cycle school; analysis of the statistics and econometrics of the calibration techniques advocated by real business cycle modelers; assessment of the empirical success of the real business cycle model from a variety of methods and perspectives; assessment of technical change and a critique of Solow's measure in business cycle models. Real Business Cycle Theory includes a detailed introduction and a non-technical User's Guuide to the formulation and solution of models.
Related Products
