Deconstructing the Success of Real Business Cycles.
The empirical success of Real Business Cycle (RBC) models is often judged by their ability to explain the behavior of a multitude of real macroeconomic variables using a single exogenous shock process. This paper shows that in a model with the same basic structure as the bare bones RBC model, moneta...
| Publicado en: | Economic Inquiry Vol. 47; no. 4; pp. 739 - 754 |
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| Formato: | Artículo |
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Wiley-Blackwell
October 2009
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| Acceso en línea: | Ver este registro en EBSCOhost |