Wen, Yi - Federal Reserve Bank of St. Louis - 2006
This paper studies conditions under which demand-side shocks can generate realistic business cycles in RBC models …. and Y. Wen, 2004, Indeterminacy, aggregate demand, and the real business cycle,
Journal of Monetary Economics 51 (2004 … realistic business
cycles in RBC models. Although highly persistent demand shocks are necessary for generating
procyclical …