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Real Business Cycle Theory

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This RePEc Biblio topic is edited by Christian Zimmermann (pzi1). It was first published on 2012-11-29 22:26:05 and last updated on 2012-11-30 04:26:05.

Introduction by the editor

What started as the study of business cycle fluctuations using micro-founded, representative-agent, calibrated, dynamic, stochastic, general-equilibrium models has expanded into a field that uses these methods for a large variety of fields. Nowadays called DSGE models, they sometimes have heterogeneous agents, are sometimes estimates, are sometimes not about business cycles or not even stochastic. But they share the concept of recursive competitive equilibrium. This part of the RePEc tree deals with studies of economic fluctuations using the classical Real Business Cycle Theory and its direct descendants. You may find other applications of the methodology elsewhere in the RePEc Biblio tree.

Most relevant JEL codes

Most relevant research

  1. Kydland, Finn E & Prescott, Edward C, 1982, "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, volume 50, issue 6, pages 1345-1370, November.
  2. Long, John B, Jr & Plosser, Charles I, 1983, "Real Business Cycles," Journal of Political Economy, University of Chicago Press, volume 91, issue 1, pages 39-69, February, DOI: 10.1086/261128.
  3. Hansen, Gary D., 1985, "Indivisible labor and the business cycle," Journal of Monetary Economics, Elsevier, volume 16, issue 3, pages 309-327, November.
  4. Edward C. Prescott, 1986, "Theory ahead of business cycle measurement," Quarterly Review, Federal Reserve Bank of Minneapolis, volume 10, issue Fall, pages 9-22.
  5. Finn E. Kydland & Edward C. Prescott, 1990, "Business cycles: real facts and a monetary myth," Quarterly Review, Federal Reserve Bank of Minneapolis, volume 14, issue Spr, pages 3-18.
  6. Backus, David K & Kehoe, Patrick J & Kydland, Finn E, 1992, "International Real Business Cycles," Journal of Political Economy, University of Chicago Press, volume 100, issue 4, pages 745-775, August, DOI: 10.1086/261838.
  7. Christiano, Lawrence J & Eichenbaum, Martin, 1992, "Current Real-Business-Cycle Theories and Aggregate Labor-Market Fluctuations," American Economic Review, American Economic Association, volume 82, issue 3, pages 430-450, June.
  8. Burnside, Craig & Eichenbaum, Martin & Rebelo, Sergio, 1993, "Labor Hoarding and the Business Cycle," Journal of Political Economy, University of Chicago Press, volume 101, issue 2, pages 245-273, April, DOI: 10.1086/261875.
  9. Andolfatto, David, 1996, "Business Cycles and Labor-Market Search," American Economic Review, American Economic Association, volume 86, issue 1, pages 112-132, March.
  10. Per Krusell & Anthony A. Smith & Jr., 1998, "Income and Wealth Heterogeneity in the Macroeconomy," Journal of Political Economy, University of Chicago Press, volume 106, issue 5, pages 867-896, October, DOI: 10.1086/250034.
  11. Chamley, Christophe, 1986, "Optimal Taxation of Capital Income in General Equilibrium with Infinite Lives," Econometrica, Econometric Society, volume 54, issue 3, pages 607-622, May.
  12. Chari, V V & Christiano, Lawrence J & Kehoe, Patrick J, 1994, "Optimal Fiscal Policy in a Business Cycle Model," Journal of Political Economy, University of Chicago Press, volume 102, issue 4, pages 617-652, August, DOI: 10.1086/261949.
  13. Cogley, Timothy & Nason, James M, 1995, "Output Dynamics in Real-Business-Cycle Models," American Economic Review, American Economic Association, volume 85, issue 3, pages 492-511, June.
  14. Benhabib, Jess & Rogerson, Richard & Wright, Randall, 1991, "Homework in Macroeconomics: Household Production and Aggregate Fluctuations," Journal of Political Economy, University of Chicago Press, volume 99, issue 6, pages 1166-1187, December, DOI: 10.1086/261796.
  15. Plosser, Charles I, 1989, "Understanding Real Business Cycles," Journal of Economic Perspectives, American Economic Association, volume 3, issue 3, pages 51-77, Summer.
  16. King, Robert G. & Rebelo, Sergio T., 1999, "Resuscitating real business cycles," Handbook of Macroeconomics, Elsevier, chapter 14, in: J. B. Taylor & M. Woodford, "Handbook of Macroeconomics".