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

Yi Wen

No 2005-039, Working Papers from Federal Reserve Bank of St. Louis

Abstract: 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.

Keywords: Business; cycles (search for similar items in EconPapers)
Date: 2005
New Economics Papers: this item is included in nep-dge, nep-hpe and nep-mac
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Citations: View citations in EconPapers (1)

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DOI: 10.20955/wp.2005.039

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