Preferencje help
Widoczny [Schowaj] Abstrakt
Liczba wyników
2010 | 3 | nr 1 | 42--48
Tytuł artykułu

Real Business Cycle Theory - Methodology and Tools

Treść / Zawartość
Warianty tytułu
Języki publikacji
The Real Business Cycle (RBC) research program has grown spectacularly over the last two decades, as its concepts and methods have diffused into mainstream macroeconomics. In its primary version it bases on growth model with neoclassical production function which is subject to a stochastic supply shocks. Simultaneously employing in analysis rational agent which decides about labor input and deserved consumption allows to develop model following cyclical fluctuations observed in the economy. In order to do so multistage calibration-simulation procedure is used. The main aim of the article is to present methodological innovations introduced by RBC proponents such as: Hodrick Prescott filter, and multistage calibration-simulation procedure. (original abstract)
Opis fizyczny
  • Poznań University of Economics, Poland
  • 1. Blinder A.S. (1979), Economic Policy and the Great Stagflation, London Academic Press
  • 2. Bruchez P.A., A Modification of the HP Filter Aiming at Reducing the End-Point Bias, Swiss Federal Finance Administration, Bundesgasse 3, Working Paper No.18, August 2003
  • 3. Cooley T.F, Prescott E.C., (1995), Economic Growth and Business Cycles, [in:] Frontiers of Business Cycle Research, T.F. Cooley (ed.), Princeton University Press, Princeton
  • 4. Cooley T.F, (1997), Calibrated Models, Oxford Review of Economic Policy, Vol.13, No.3
  • 5. Eudey G., (1997), Diagnostic Evaluation of the Real Business Cycle Model with Factor Hoarding, Federal Reserve Bank of Philadelphia, Working Paper No. 97-27, December
  • 6. Frisch R., (1995), Propagation Problems and Impulse Problems in Dynamic Economies, [in:] Business Cycle Theory, F.E. Kydland (ed.), EEPC, Aldershot-Brookfield
  • 7. Hansen G.D., Heckman J.J., (1996), The Empirical Foundations of Calibration, Journal of Economic Perspective, Vol.10
  • 8. Hodrick R.J., Prescott E.C., (1997), Postwar US business cycle: An empirical investigation, Journal of Money, Credit and Banking, Vol. 29, February
  • 9. R.G. King, S.T. Rebelo, Low Frequency Filtering and Real Business Cycyles, Journal of Economic Dynamics and Control, Vol. 17, 1993, s. 207-231.
  • 10. King R.G., Rebelo S.T., (2000) Resuscitating Real Business Cycle, NBER Working Paper No. 7534
  • 11. Kydland F.E., Prescott E.C., (1982), Time to build and aggregate fluctuations, Econometrica, Vol. 50
  • 12. Kydland F.E., Prescott E.C, (1996), The computational experiment: An econometric tool, Journal of Economic Perspective, Vol.10, Winter
  • 13. Long J.B., Plosser C.I., (1983), Real Business Cycle, Journal of Political Economy, Vol. 91
  • 14. Lucas R.E., (1980), Methods and Problems in Business Cycle Theory, Journal of Money, Credit and Banking, Vol.12, November
  • 15. Nelson C.R., Plosser C.I., (1982), Trends and Random Walks in Macroeconomic Time Series: Some Evidence and Implications, Journal of Monetary Economics, Vol. 10, September
  • 16. Prescott E.C., (1986), Theory ahead of business cycle measurement, Federal Reserve Bank of Minneapolis Quarterly Review, 10(4), Fall
  • 17. Rebelo S.T., (2005), Real Business Cycle Models: Past, Present and Future, Scandinavian Journal of Economics, 107(2)
  • 18. Solow R,M.,(1957,) Technical Change and Aggregate Production Function, Review of Economics and Statistics, 39(8)
  • 19. B. Snowdon, H. Vane, (2005), Modern Macroeconomic. Its Origins, Development and Current State, Edward Elgar, Cheltenham - Northampton
Typ dokumentu
Identyfikator YADDA

Zgłoszenie zostało wysłane

Zgłoszenie zostało wysłane

Musisz być zalogowany aby pisać komentarze.
JavaScript jest wyłączony w Twojej przeglądarce internetowej. Włącz go, a następnie odśwież stronę, aby móc w pełni z niej korzystać.