Measuring Business Cycles: The Real Business Cycle Approach and Related Controversies

Celsa Machado ()
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Celsa Machado: Instituto Superior de Contabilidade e Administração do Porto and Faculdade de Economia do Porto

FEP Working Papers from Universidade do Porto, Faculdade de Economia do Porto

Abstract: This paper presents and discusses the business cycles measurement carried out by the real business cycle (RBC) approach. It shows how the controversy lodges within and outside the RBC frontiers. It also shows how the methodological debate that took place in the 1940s about the relationship between theory and measurement, is revived in modern discussions of business cycles measurement. The paper concludes that this relationship still raises fierce contention.

Keywords: Business cycles; Real business cycles; Measurement. (search for similar items in EconPapers)
Pages: 18 pages
Date: 2001-05
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:por:fepwps:107

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