Real Business Cycle Models
National Bureau of Economic ResearchPublished 1 January 1988Open access
Bennett T. McCallum
Citations98
Generate an AI Snapshot to get a quick, structured summary of this paper.
Study Snapshot
ObjectiveStudy objective
MethodsResearch methodology
PopulationPopulation studied
Sample sizeSample sizes
OutcomesStudy outcomes here
ResultsStudy results comes here
LimitationsResearch study limitations comes here
A concise AI-generated summary of the paper will appear here once you click Generate AI Snapshot.
Abstract
This paper attempts to provide an evaluation of both strengths and weaknesses of the real business cycle (RBC) approach to the analysis of macroeconomic fluctuations.
Keywords
Economics, Econometrics and Finance
The Review of Economics and StatisticsTechnical Change and the Aggregate Production Function
12,217 Citations1957Robert M. Solow
Journal of money credit and bankingPostwar U.S. Business Cycles: An Empirical Investigation
7,404 Citations1997Robert J. Hodrick, Edward C. Prescott
Journal of Monetary EconomicsThe equity premium: A puzzle
5,757 Citations1985Rajnish Mehra, Edward C. Prescott
Journal of Political EconomyOil and the Macroeconomy since World War II
3,776 Citations1983James D. Hamilton
American Economic ReviewSome International Evidence on Output-Inflation Tradeoffs.
2,478 Citations1973Lucas Robert
Journal of Economic Dynamics and ControlTrends and random walks in macroeconomic time series
2,469 Citations1988Pierre Perrón
The Review of Economic StudiesThe Explanation of Productivity Change
2,444 Citations1967Dale W. Jorgenson, Zvi Griliches
Journal of Monetary EconomicsProduction, growth and business cycles
2,239 Citations1988Robert G. King, Charles I. Plosser +1 more
Journal of Monetary EconomicsIndivisible labor and the business cycle
2,029 Citations1985Gary D. Hansen
Journal of Monetary EconomicsIndivisible labor, lotteries and equilibrium
1,217 Citations1988Richard Rogerson
Journal of Political EconomySectoral Shifts and Cyclical Unemployment
1,131 Citations1982David M. Lilien
Journal of Political EconomyAn Equilibrium Model of the Business Cycle
1,021 Citations1975Robert E. Lucas
Journal of Monetary EconomicsUnivariate detrending methods with stochastic trends
865 Citations1986Mark W. Watson
Journal of Economic TheoryOptimal economic growth and uncertainty: The discounted case
791 Citations1972William A. Brock, Leonard J. Mirman
Journal of Economic Dynamics and ControlLow frequency filtering and real business cycles
713 Citations1993Robert G. King, Sérgio Rebelo
Brookings Papers on Economic ActivityPolicy Analysis with Econometric Models
690 Citations1982Christopher A. Sims, Stephen M. Goldfeld +1 more
RePEc: Research Papers in EconomicsPost-War U.S. Business Cycles: An Empirical Investigation
661 Citations1981Robert J. Hodrick, Edward Simpson Prescott
The Review of Economics and StatisticsOil Price Shocks and the Dispersion Hypothesis
304 Citations1986Prakash Loungani
National Bureau of Economic ResearchMoney, Real Interest Rates, and Output: A Reinterpretation of Postwar U.S. Data
240 Citations1983Robert B. Litterman, Laurence Weiss
Indivisible Labor and the Business Cycle
215 Citations1998Gary D. Hansen
Journal of Applied EconometricsOutput and unemployment dynamics in the United States: 1950–1985
195 Citations1989George W. Evans
National Bureau of Economic ResearchComparison of Interwar and Postwar Business Cycles: Monetarism Reconsidered
193 Citations1980Christopher A. Sims
National Bureau of Economic ResearchThe Real Interest Rate: An Empirical Investigation
188 Citations1981Frederic S. Mishkin
Carnegie-Rochester Conference Series on Public PolicyLabor-force heterogeneity and the business cycle
175 Citations1984Finn E. Kydland
National Bureau of Economic ResearchAre Output Fluctuations Transitory?
171 Citations1986John Campbell, N. Gregory Mankiw
Journal of Monetary EconomicsEconometric issues in the analysis of equilibrium business cycle models
147 Citations1988Kenneth J. Singleton
Journal of Monetary EconomicsThe workweek of capital and its cyclical implications
143 Citations1988Finn E. Kydland, Edward C. Prescott
Carnegie-Rochester Conference Series on Public PolicyFluctuations in the pace of labor reallocation
139 Citations1987Steven J. Davis
National Bureau of Economic ResearchOn "Real" and "Sticky-Price" Theories of the Business Cycle
118 Citations1986Bennett T. McCallum
National Bureau of Economic ResearchA Time Series Analysis of Representative Agent Models of Consumption andLeisure Choice Under Uncertainty
112 Citations1986Martin Eichenbaum, Lars Peter Hansen +1 more
Journal of Political EconomyCyclical Unemployment: Sectoral Shifts or Aggregate Disturbances?
108 Citations1984Katharine G. Abraham, Lawrence F. Katz
Journal of Economic TheoryStochastic growth with correlated production shocks
77 Citations1983John B. Donaldson, Rajnish Mehra
NBER Macroeconomics AnnualDo Equilibrium Real Business Cycle Theories Explain Postwar U. S. Business Cycles?
74 Citations1986Martin Eichenbaum, Kenneth J. Singleton
Journal of money credit and bankingOn Consequences and Criticisms of Monetary Targeting
61 Citations1985Bennett T. McCallum
Journal of Monetary EconomicsMonetary information and monetary neutrality
53 Citations1981Robert G. King
Money, Real Interest Rates, and Output: A Reinterpretation of Postwar U.S. Data
44 Citations1984Robert B. Litterman, Laurence Weiss
Is Consumption Insufficiently Sensitive to Innovations in Income
44 Citations1987Lawrence J. Christiano
General Equilibrium and Business Cycles
42 Citations2012
NBER Macroeconomics AnnualDo Equilibrium Real Business Cycle Theories Explain Postwar U. S. Business Cycles?
36 Citations1986Martin Eichenbaum, Kenneth J. Singleton
National Bureau of Economic ResearchMacroeconomics After a Decade of Rational Expectations: Some Critical Issues
33 Citations1982Bennett T. McCallum
Univariate Detrending Methods with Stochastic Trends
32 Citations2005Mark W. Watson
The Observational Equivalence of Natural and Unnatural Rate Theories of Macroeconomics
24 Citations1975Thomas J. Sargent
RePEc: Research Papers in EconomicsMoney does Granger-cause output in the bivariate output-money relation
16 Citations1987Lawrence J. Christiano, Lars Ljungqvist
Edward Elgar Publishing eBooksOptimal Economic Growth And Uncertainty: The Discounted Case
13 Citations2001William A. Brock, Leonard J. Mirman
The Workweek of Capital and its Cyclical Implications
10 Citations1987Finn E. Kydland, Edward C. Prescott
Business reviewNew views of the business cycle: has the past emphasis on money been misplaced?
7 Citations1986Carl E. Walsh
