The ABCs of RBCs: An Introduction to Dynamic Macroeconomic Models by George McCa
161,46 €
The ABCs of RBCs fills an important gap in the textbook literature in modern macroeconomics. -- Kim Border, California Institute of Technology. These models argue that random shocks--new inventions, droughts, and wars, in the case of pure RBC models, and monetary and fiscal policy and international investor risk aversion, in more open interpretations--can trigger booms and recessions and can account for much of observed output volatility.
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