Description
Real Business Cycle theory combines the remains of monetarism with the new classical macroeconomics, and has become one of the dominant approaches within contemporary macroeconomics today. This volume presents:
* the authoritative anthology in RBC. The work contains the major articles introducing and extending the theory as well as critical literature
* an extensive introduction which contains an expository summary and critical evaluation of RBC theory
* comprehensive coverage and balance between seminal papers and extensions; proponents and critics; and theory and empirics.
Macroeconomics is a compulsory element in most economics courses, and this book will be an essential guide to one of its major theories.
Table of Contents
Part I Introduction Part II The foundations of real business cycle modeling Part III Some extensions Part IV The methodology of equilibrium business cycle models Part V The critique of calibration methods Part VI Testing the real business cycle model Part VII The Solow residual Part VIII Filtering and detrending
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