| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w7534 |
| 来源ID | Working Paper 7534 |
| Resuscitating Real Business Cycles | |
| Robert G. King; Sergio T. Rebelo | |
| 发表日期 | 2000-02-01 |
| 出版年 | 2000 |
| 语种 | 英语 |
| 摘要 | The Real Business Cycle (RBC) research program has grown spectacularly over the last decade, as its concepts and methods have diffused into mainstream macroeconomics. Yet, there is increasing skepticism that technology shocks are a major source of business fluctuations. This chapter exposits the basic RBC model and shows that it requires large technology shocks to produce realistic business cycles. While Solow residuals are sufficiently volatile, these imply frequent technological regress. Productivity studies permitting unobserved factor variation find much smaller technology shocks, suggesting the imminent demise of real business cycles. However, we show that greater factor variation also dramatically amplifies shocks: a RBC model with varying capital utilization yields realistic business cycles from small, nonnegative changes in technology. |
| 主题 | Macroeconomics ; Macroeconomic Models ; Business Cycles |
| URL | https://www.nber.org/papers/w7534 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/565082 |
| 推荐引用方式 GB/T 7714 | Robert G. King,Sergio T. Rebelo. Resuscitating Real Business Cycles. 2000. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w7534.pdf（10549KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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