Construct · 1 fields · 1 citations

real business cycle: a standalone construct

One name. One construct. A landmark on the map.

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Macroeconomics

the view that business cycles are efficient responses to real shocks such as technology changes rather than monetary disturbances.

In macroeconomics, real business cycle refers to the view that business cycles are efficient responses to real shocks such as technology changes rather than monetary disturbances. This meaning comes from Kydland (1982) in Econometrica.[1]

Unit
Recovery means
Measured by

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Nearby constructs

calibration3 fields · 5 citationsjingle · one word, three constructs fluctuation4 fields · 7 citationsjingle · one word, four constructs shock3 fields · 3 citationsjingle · one word, three constructs

References

Kydland, F. E., & Prescott, E. C. (1982). Time to Build and Aggregate Fluctuations. Econometrica, 50(6), 1345. https://doi.org/10.2307/1913386

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