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| Author: | Stadler, G. |
| Title: | Real business cycles |
| Journal: | Journal of Economic Literature
1994 : DEC, VOL. 32:4, p. 1750-1783 |
| Index terms: | MACROECONOMICS STABILIZATION DEVELOPMENT |
| Language: | eng |
| Abstract: | The 1970s saw a distinctive shift in macroeconomic research. The traditional Keynesian research program was concerned with the determination of output and employment at a point in time and with how to alter and stabilize the time paths of major macroeconomic variables. In the 1970s this research program increasingly gave way to business cycle theory, that is, the theory of the nature and causes of economic fluctuations. This paper is a summary and assessment of Real Business Cycle theory. |
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