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Journal of Economic Perspectives: Vol. 3 No. 3 (Summer 1989)
JEP Volume. 3, Issue 3 | 
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Understanding Real Business Cycles
Article Citation
Plosser, Charles I. 1989. "Understanding Real Business Cycles."
Journal of Economic Perspectives,
3(3): 51-77.
DOI: 10.1257/jep.3.3.51
DOI: 10.1257/jep.3.3.51
Abstract
This brief essay is intended to provide readers with an introduction to the real business cycle approach to business fluctuations. It discusses the basic real business cycle framework; economic growth and business cycles; real business cycles and the 1954-1985 U.S. economy; government policies and suboptimal equilibrium; and the real business cycle research agenda. An appendix presents a more technical summary of the basic neoclassical model presented in the paper.
Article Full-Text Access
Full-text Article (Complimentary)
Authors
Plosser, Charles I. (U Rochester)
JEL Classifications
131: Economic Fluctuations--Theory
131: Economic Fluctuations--Studies
131: Economic Fluctuations--Studies
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