RBC Methodology and the Development of Aggregate Economic Theory

Edward Prescott

Working Papers from eSocialSciences

Abstract: This essay reviews the development of neoclassical growth theory, a unified theory of aggregate economic phenomena that was first used to study business cycles and aggregate labor supply. The focus of this essay is on real business cycle (RBC) methodology. The contributions reviewed here are ones that illustrate methodological points or extend the applicability of neoclassical growth theory. [ Working Paper 22422]

Keywords: neoclassical growth theory; unified theory of aggregate economic phenomena; business cycles; aggregate labor supply; real business cycle (RBC) methodology; dynamic general equilibrium (search for similar items in EconPapers)
Date: 2016-07
Note: Institutional Papers
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Citations: View citations in EconPapers (3)

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Related works:
Chapter: RBC Methodology and the Development of Aggregate Economic Theory (2016)
Working Paper: RBC Methodology and the Development of Aggregate Economic Theory (2016)
Working Paper: RBC Methodology and the Development of Aggregate Economic Theory (2016)
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