Measuring Business Cycles: The Real Business Cycle Approach and Related Controversies
AbstractThis paper presents and discusses the business cycles measurement carried out by the real business cycle (RBC) approach. It shows how the controversy lodges within and outside the RBC frontiers. It also shows how the methodological debate that took place in the 1940s about the relationship between theory and measurement, is revived in modern discussions of business cycles measurement. The paper concludes that this relationship still raises fierce contention.
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Bibliographic InfoPaper provided by Universidade do Porto, Faculdade de Economia do Porto in its series FEP Working Papers with number 107.
Length: 18 pages
Date of creation: May 2001
Date of revision:
Business cycles; Real business cycles; Measurement.;
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