Real business cycles

The Real Business Cycle model has become the dominant mode of business analysis within the new classical school of macroeconomic thought. It has been the focus of a great deal of debate and controversy, and yet, to date, there has been no single source for material on real business cycles, much less one which provides a balanced account of both sides of the debate.

This volume fills the gap by presenting a collection of the essential articles that define and develop the real business cycle school, as well as those that criticize it. Key areas covered include:

• the establishment of the real business cycle program
• the aims and methods of the real business cycle school
• analysis of the statistics and econometrics of the calibration ...