The ABCs of RBCs: An Introduction to Dynamic Macrocconomic Models

摘要

About twenty years ago, I was enrolled in the economics Ph.D. program at the University of Rochester, one of only a handful of departments at that time teaching quantitative general equilibrium models of the macroeconomy. Many economists call these models real business cycle models, or "RBC" models, which has become a catch-all term for aggregate models with an optimizing representative household and which may, or may not, include stochastic productivityrnand/or other shocks.