Working Paper: CEPR ID: DP5384
Authors: Sergio Rebelo
Abstract: In this paper I review the contribution of real business cycles models to our understanding of economic fluctuations, and discuss open issues in business cycle research.
Keywords: business cycles; productivity; recessions
JEL Codes: E1; E3
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| declines in total factor productivity (TFP) (O49) | economic downturns (F44) |
| model assumptions (C51) | observed market behaviors (D40) |
| fiscal shocks (E62) | consumption (E21) |
| fiscal shocks (E62) | labor supply (J20) |
| technology shocks (D89) | business fluctuations (E32) |