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Business Cycles

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  • Sergio Rebelo

    (Northwestern University, NBER, and CEPR)

Abstract

This paper describes the empirical regularities of growth and business cycles that characterize market economies. Relatively little is know at this point about economic fluctuations in planned economies, partly because the system of national income accounting used by these countries produces information that is not easily comparable with data for market economies. Still, the lessons from market economies are likely to become increasingly relevant as planning economies rely more on market forces.

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Bibliographic Info

Article provided by Society for AEF in its journal Annals of Economics and Finance.

Volume (Year): 6 (2005)
Issue (Month): 2 (November)
Pages: 229-250

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Handle: RePEc:cuf:journl:y:2005:v:6:i:2:p:229-250

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Keywords: Business cycles; Growth;

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References

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  1. Benhabib, Jess & Farmer, Roger E.A., 1999. "Indeterminacy and sunspots in macroeconomics," Handbook of Macroeconomics, Elsevier, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 6, pages 387-448 Elsevier.
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  7. Prescott, Edward C., 1986. "Theory ahead of business-cycle measurement," Carnegie-Rochester Conference Series on Public Policy, Elsevier, Elsevier, vol. 25(1), pages 11-44, January.
  8. David K. Backus & Patrick J. Kehoe, 1991. "International evidence on the historical properties of business cycles," Staff Report, Federal Reserve Bank of Minneapolis 145, Federal Reserve Bank of Minneapolis.
  9. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth through Creative Destruction," Econometrica, Econometric Society, Econometric Society, vol. 60(2), pages 323-51, March.
  10. Michael A. Kouparitsas, 2001. "Is the United States an optimum currency area? an empirical analysis of regional business cycles," Working Paper Series, Federal Reserve Bank of Chicago WP-01-22, Federal Reserve Bank of Chicago.
  11. Burnside, A. Craig & Eichenbaum, Martin S. & Rebelo, Sergio T., 1996. "Sectoral Solow residuals," European Economic Review, Elsevier, Elsevier, vol. 40(3-5), pages 861-869, April.
  12. Robert G. King & Sergio T. Rebelo, 2000. "Resuscitating Real Business Cycles," RCER Working Papers, University of Rochester - Center for Economic Research (RCER) 467, University of Rochester - Center for Economic Research (RCER).
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  16. Craig Burnside & Martin Eichenbaum, 1994. "Factor Hoarding and the Propagation of Business Cycles Shocks," NBER Working Papers 4675, National Bureau of Economic Research, Inc.
  17. Mark Bils & Peter J. Klenow, 1998. "Using Consumer Theory to Test Competing Business Cycle Models," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 106(2), pages 233-261, April.
  18. King, Robert G. & Rebelo, Sergio T., 1993. "Low frequency filtering and real business cycles," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 17(1-2), pages 207-231.
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Cited by:
  1. Claudia S. Gómez-López & Luis A.Puch, 2008. "Macroeconomic Consequences of International Commodity Price Shocks," Working Papers 2008-27, FEDEA.

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