Real Business Cycles: A Reader

By James E. Hartley; Kevin D. Hoover et al. | Go to book overview

Acknowledgements

The editors have benefited from the help of a number of people in putting this volume together. We thank: John Muellbauer for comments on a draft of Chapter 1; Michael Campbell for bibliographic work; Jeannine Henderson for her careful work in preparing camera-ready copy of the articles reproduced here; Alan Jarvis, Alison Kirk, and Laura Large of Routledge for their encouragement and help with the production details; Colin Cameron, Timothy Cogley, Martin Eichenbaum, Robert Feenstra, Andrew Harvey, Dale Heien, Richard Howitt, Finn Kydland, Martine Quinzii, Steven Sheffrin, and Gregor Smith for helping us to obtain copies of the articles suitable for the reproduction in the volume.

We also acknowledge the following permissions to reprint:

The Econometric Society and Dickey and Fuller for a table from “Liklihood Ratio Statistics for Auto-regression Time Series with a Unit Root” in Econometrica, 49, 1981, pp. 12-26. The Econometric Society and N. E. Savin and K. J. White for a table from “The Durbin-Watson Test for Serial Correlation with Extreme Small Samples or Many Regressors”, Econometrica, 45, 1977, 1989-1986 as corrected by R. W. Farbrother, Econometrica, 48, September 1980, p. 1554. The American Economic Association and Finn E. Kydland and Edward C. Prescott for “The Computational Experiment: An Econometric Tool” in Journal of Economic Perspectives, vol. 10:1, Winter 1996, pp. 69-86. The American Economic Association and Lars Peter Hansen and James H. Heckman for “The Empirical Foundations of Calibration” in Journal of Economic Perspectives, vol. 10:1, Winter 1996, pp. 87-104. The American Economic Association and Gary D. Hansen and Edward C. Prescott for “Did Technology Shocks Cause the 1990-1991 Recession” in American Economic Review, vol. 83:2, May 1993, pp. 280-286. The American Economic Association and Lawrence J. Christiano and Martin Eichenbaum for “Current Real-Business Cycle Theories and Aggregate Labour Market Functions” in American Economic Review, vol. 82:3, June 1992, pp. 430-450. The American Economic

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Real Business Cycles: A Reader
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • Acknowledgements xi
  • Part I - Introduction 1
  • Chapter 1 - The Limits of Business Cycle Research 3
  • Notes 34
  • Chapter 2 - A User's Guide to Solving Real Business Cycle Models 43
  • Part II - The Foundations of Real Business Cycle Modeling 55
  • Chapter 3 57
  • Chapter 4 83
  • References 96
  • Chapter 5 97
  • Chapter 6 102
  • Chapter 7 108
  • Part III - Some Extensions 147
  • Chapter 8 149
  • Chapter 9 168
  • References 178
  • Chapter 10 - Current Real-Business-Cycle Theories and Aggregate Labor-Market Fluctuations 179
  • Chapter 11 - The Inflation Tax in a Real Business Cycle Model 200
  • Part IV - The Methodology of Equilibrium Business Cycle Models 217
  • Chapter 12 219
  • Chapter 13 237
  • Chapter 14 254
  • Chapter 15 272
  • Part V - The Critique of Calibration Methods 293
  • Chapter 16 295
  • Chapter 17 - Measures of Fit for Calibrated Models 302
  • Chapter 18 333
  • Chapter 19 355
  • Part VI - Testing the Real Business Cycle Model 381
  • Chapter 20 - Business Cycles: Real Facts and a Monetary Myth 383
  • References 398
  • Chapter 21 399
  • Chapter 22 - Evaluating a Real Business Cycle Model 431
  • Chapter 23 462
  • Chapter 24 496
  • Chapter 25 513
  • Chapter 26 - Did Technology Shocks Cause the 1990-1991 Recession? 533
  • Part VII - The Solow Residual 541
  • Chapter 27 - Technical Change and the Aggregate Production Function 543
  • Chapter 28 552
  • Chapter 29 564
  • Chapter 30 - Output Dynamics in Real-Business-Cycle Models 571
  • Part VIII - Filtering and Detrending 591
  • Chapter 31 - Postwar U. S. Business Cycles: an Empirical Investigation 593
  • Chapter 32 609
  • Chapter 33 626
  • Index 652
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