| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24741 |
| 来源ID | Working Paper 24741 |
| Evolution of Modern Business Cycle Models: Accounting for the Great Recession | |
| Patrick J. Kehoe; Virgiliu Midrigan; Elena Pastorino | |
| 发表日期 | 2018-06-25 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | Modern business cycle theory focuses on the study of dynamic stochastic general equilibrium models that generate aggregate fluctuations similar to those experienced by actual economies. We discuss how this theory has evolved from its roots in the early real business cycle models of the late 1970s through the turmoil of the Great Recession four decades later. We document the strikingly different pattern of comovements of macro aggregates during the Great Recession compared to other postwar recessions, especially the 1982 recession. We then show how two versions of the latest generation of real business cycle models can account, respectively, for the aggregate and the cross-regional fluctuations observed in the Great Recession in the United States. |
| 主题 | Macroeconomics ; Macroeconomic Models ; Business Cycles ; Monetary Policy ; Fiscal Policy |
| URL | https://www.nber.org/papers/w24741 |
| 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/582413 |
| 推荐引用方式 GB/T 7714 | Patrick J. Kehoe,Virgiliu Midrigan,Elena Pastorino. Evolution of Modern Business Cycle Models: Accounting for the Great Recession. 2018. |
| 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 | ||
| w24741.pdf（251KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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