Where's the beef? the trivial dynamics of real business cycle models

The extremely weak propagation mechanisms of real business cycle (RBC) models are well acknowledged, and some effort has been devoted to improving the models on this dimension. This paper builds on these efforts to provide an explicit explanation of why various existing RBC models do not replicate real world business cycles, and discusses modifications necessary to bring real business cycle theory into closer conformity with the data.

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Year of publication:	2005
Authors:	Wen, Yi
Institutions:	Federal Reserve Bank of St. Louis
Subject:	Business cycles

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 2005-039
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005352965