G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w7534
来源IDWorking 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
URLhttps://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
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Robert G. King]的文章
[Sergio T. Rebelo]的文章
百度学术
百度学术中相似的文章
[Robert G. King]的文章
[Sergio T. Rebelo]的文章
必应学术
必应学术中相似的文章
[Robert G. King]的文章
[Sergio T. Rebelo]的文章
相关权益政策
暂无数据
收藏/分享
文件名: w7534.pdf
格式: Adobe PDF
此文件暂不支持浏览

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。