TY - BOOK ID - 66976323 TI - Real business cycle models in economics. PY - 2014 VL - 160 SN - 9780415475693 9781315857541 9781317934028 9781317934035 9781317934042 9781138674509 0415475694 1315857545 PB - London Routledge DB - UniCat KW - Business cycles KW - Mathematical models KW - 330.3 KW - 331.05 KW - AA / International- internationaal KW - Economic cycles KW - Economic fluctuations KW - Cycles KW - Methode in staathuishoudkunde. Statische, dynamische economie. Modellen. Experimental economics KW - Econometrische analyse van de economische bewegingen en cycli KW - Business cycles - Mathematical models UR - https://www.unicat.be/uniCat?func=search&query=sysid:66976323 AB - "Real Business Cycle (RBC) Theory holds that random fluctuations in productivity are what causes the business cycle. Economists have come up with different models over the years which attempt to explain patterns in real business cycles, though the two which dominate proceedings are Kydland & Prescott's and Long & Plosser's models. The purpose of this book is to describe the intellectual process by which RBC models developed. The approach taken focuses on the core elements in the development of RBC models: (i) building blocks, (ii) catalysts, and (iii) meta-syntheses. This is done by detailed examination of all available unpublished variorum drafts of the key papers in the RBC story, so as to determine the origins of the ideas. The analysis of the process their discovery is then set out followed by explanations of the evolution and dissemination of the models, from first generation papers through full blown research programs. This is supplemented by interviews and correspondence with the individuals who were at the center of the development of RBC models, such as Kydland, Prescott, Long, Plosser, King, Lucas and Barro, among others. This book gets stright to the heart of the debates surrounding RBC models and as such contributes to a real assessment of their impact on modern macroeconomics. The volume, therefore, will interest all scholars looking at macroeconomics as well as historians of economic thought more generally"-- "The purpose of this book is to describe the intellectual process by which Real Business Cycle models developed. The approach taken focuses on the core elements in the development of RBC models: (i) building blocks, (ii) catalysts, and (iii) meta-syntheses. This is done by detailed examination of all available unpublished variorum drafts of the key papers in the RBC story, so as to determine the origins of the ideas. The analysis of the process their discovery is then set out followed by explanations of the evolution and dissemination of the models, from first generation papers through full blown research programs. This is supplemented by interviews and correspondence with the individuals who were at the center of the development of RBC models, such as Kydland, Prescott, Long, Plosser, King, Lucas and Barro, among others. This book gets stright to the heart of the debates surrounding RBC models and as such contributes to a real assessment of their impact on modern macroeconomics. The volume, therefore, will interest all scholars looking at macroeconomics as well as historians of economic thought more generally"-- ER -