Real Business Cycles

<p>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:<br> * the authoritative anthology in RBC. The work contains the major articles introducing and extending the theory as well as critical literature<br> * an extensive introduction which contains an expository summary and critical evaluation of RBC theory<br> * comprehensive coverage and balance between seminal papers and extensions; proponents and critics; and theory and empirics.<br> Macroeconomics is a compulsory element in most economics courses, and this book will be an essential guide to one of its major theories.</p> 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