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2.1 Properties and Solution of the Basic RBC Model
- Dynamic Optimization: lecture notes by Wouter Denhaan
- King R., Plosser C. and Rebelo S., 1988, ”Production, Growth and Business Cycles: I. The Basic Neoclassical Model”, Journal of Monetary Economics 21 (2-3)
- Rebelo S., 2005, ”Real Business Cycle Models: Past, Present, and Future”, Scandinavion Journal of Economics 107(2)
2.2 Performance and Some Extensions of the RBC Model
- Indivisible Labor: Hansen, Gary, 1985, “Indivisible Labor and the Business
Cycle”, Journal of Monetary Economics, 16, 309-27
- Investment Technology Shocks and Variable Capacity Utilization:
Greenwood J., Hercowitz Z. and Huffman G., 1988, “Investment, Capacity Utilization, and the Real Business Cycle”, American Economic Review, 78 (3)
- Small Open Economy: Mendoza, Enrique, 1991, “Real Business Cycles in a Small Open Economy”, American Economic Review, 81 (4)
- Business Cycles in a Small Open Economy Isabel Correia, Joao C. Neves and Sergio Rebelo, 1995, “Business Cycles in a Small Open Economy”, European Economic Review 39.
- Two Country Model: Backus, D., Kehoe, P. and Kydland, F., 1992 “International Real Business Cycles”, Journal of Political Economy, 100 (4)
- News Shocks: Jaimovich, N. and Rebelo, S., 2007 “Can News About the Future Drive the Business Cycle”, American Economic Review, 99(4)
- Government Consumption Shocks: Christiano, L.J. and M. Eichenbaum, 1992, “Current Real Business Cycle Theories and Aggregate Labor Market Fluctuations”, American Economic Review 82(3), 430- 50
- Adjustment Costs: Cogley T. and Nason J., 1995, “Output Dynamics in Real-Business-Cycle Models”, The American Economic Review 85 (3)
- Home Production: Benhabib J., Rogerson R., Wright R., 1991, “Homework in Macroeconomics: Household Production and Aggregate Fluctuations ”, Journal of Political Economy 99(6)
- Habit Persistence and Asset Prices: Boldrin, Christiano and Fisher, 2001, “Habit Persistence, Asset Returns, and the Business Cycle”, American Economic Review vol. 91(1)
- Walsh, Carl E. (2003): Monetary Theory and Policy, Second Edition, MIT Press, chapters 1, 2.3, 3.2 and 3.3
5.1 Evidence on Technology Shocks
5.2 Evidence on Monetary Policy Shocks
- Bernanke, Ben S., and Ilian Mihov (1997): “Measuring Monetary Policy,” Quarterly Journal of Economics, vol. CXIII, no.
5.3 Evidence on Fiscal Policy Shocks
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