RBC theory is a class of new classical macroeconomics models in which business-cycle fluctuations are accounted for by real (in contrast to nominal) shocks.

Real business cycle theory seeks to explain business cycles via the classical model. There is general equilibrium: demand equals supply in every market. An ...

Real business cycle theory is a theory that suggests that business cycles are a result of technological changes and the availability of resources.

The RBC theory of business cycles has two principles: 1. Money is of little importance in business cycles. 2. Business cycles are created by rational agents ...

Real Business Cycle theory regards stochastic fluctuations in factor produc- tivity as the predominant source of fluc- tuations in economic activity.

Real business cycle theory is the latest incarnation of the classical view of economic fluctuations. It assumes that there are large random fluctuations.

The RBC theory is an extension of the non-monetary Ramsey growth model, usually in discrete time. The key point is that endogenous labor supply and exogenous ...

hodrick prescott filter, calibration-simulation procedure. Introduction. Real business cycle theory is built on the assumption that there are large fluctuations.

The Basic Real Business Cycle Framework Real business cycle models view aggregate economic variables as the outcomes of the decisions made by many individual ...

12 июн. 2010 г. · The central idea of the theory is that business cycles are “real”in that they do not represent a failure of markets to clear but rather reflect ...