Real business-cycle theory (RBC theory) is a class of new classical macroeconomics models in which business-cycle fluctuations are accounted for by real...

months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales." Business cycles are usually thought of as...

Austrian business cycle theory (ABCT) is an economic theory developed by the Austrian School of economics seeking to explain how business cycles occur....

imperfections demonstrated with small models and new classical work on real business cycle theory that used fully specified general equilibrium models and used...

forces that drive business cycles; this empirical work has given rise to two main competing frameworks called the real business cycle model and the New...

macroeconomic schools of thought – new classical macroeconomics/real business cycle theory and early New Keynesian economics – into a consensus view on the...

Freshwater theories New classical macroeconomics Homo economicus Lucas critique Efficient-market hypothesis Rational expectations Real business cycle theory Ricardian...

employment, and other sources of disturbances, which is known as real business cycle theory. In the usual setup, time is continuous starting, for simplicity...

Rational expectations is an economic theory that seeks to infer the macroeconomic consequences of individuals' decisions based on all available knowledge...

revolutionized the online business as a whole, an example of a positive technology shock. Real business cycle theory (RBCT) is the theory where any type of shock...

Business economics is a field in applied economics which uses economic theory and quantitative methods to analyze business enterprises and the factors...

economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, with subsequent development influenced to a large...

Macroeconomic theory has its origins in the study of business cycles and monetary theory. In general, early theorists believed monetary factors could not...

56-80. Lambert, Edward, “Modeling an Effective Demand Limit to the Business Cycle” Effective Demand blog. 12/28/2014. Lambert, Edward, “Synopsis of Effective...

1963. Friedman, Milton, and Anna Jacobson Schwartz, 1963a. "Money and Business Cycles", Review of Economics and Statistics, 45(1), Part 2, Supplement, p...

new Keynesian economics developed in the 1980s and earlier with Real Business Cycle Theory. RBC models were dynamic but assumed perfect competition; new...

Cambridge cash balance approach to theory of money and influenced the trade cycle theory. Until the 1930s, John Maynard Keynes was also influencing the theoretical...

spending the money on consumption goods. Since according to time preference theory people prefer goods now to goods later, in a free market there will be a...

fiscal policy is used to stabilise the economy over the course of the business cycle. Changes in the level and composition of taxation and government spending...

with the theory of consumption based in permanent income, and Modigliani (1954, 1963), with the theory of consumption based on the life cycle hypothesis...

theoretical reasons, namely the Sticky-Wage Theory, the Sticky-Price Theory and the Misperception Theory. The position of the MRAS curve is affected by...

Dictionary of Economics, 2nd ed. • Thomas Cooley, ed., (1995), Frontiers of Business Cycle Research, Princeton University Press. Description and preview. ISBN 0-691-04323-X...

been 30 percent lower in 1937 than in 1933. Followers of the real business-cycle theory believe that the New Deal caused the depression to persist longer...

Endogenous growth theory holds that economic growth is primarily the result of endogenous and not external forces. Endogenous growth theory holds that investment...

of business cycle theory and monetary theory. William Stanley Jevons was one of the pioneers of the first tradition, whereas the quantity theory of money...

estimates of real income per capita in 1870, biased Baumol's findings. DeLong concludes that there is little evidence to support the convergence theory. The key...

formulation and the one based on a simple version of Quantity Theory is that now the demand for real balances depends on both income (positively) or the desired...

is a mathematical tool used in macroeconomics, especially in real business cycle theory, to remove the cyclical component of a time series from raw data...

1972) became known for his theories in planned economics. Other members, such as Erik Lundberg, continued as business cycle-oriented economists. Rudolf...

perpetuate the recession in a vicious cycle. This perspective originates in, and is intimately tied to, the debt-deflation theory of Irving Fisher, and the notion...