Statements (33)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
macroeconomic model
|
| gptkbp:abbreviation |
gptkb:RBC_model
|
| gptkbp:assumes |
rational expectations
representative agent competitive equilibrium market clearing flexible prices intertemporal optimization productivity shocks no involuntary unemployment |
| gptkbp:contrastsWith |
Keynesian models
|
| gptkbp:criticizedFor |
neglecting monetary factors
neglecting price stickiness |
| gptkbp:developedBy |
gptkb:Edward_Prescott
gptkb:Finn_Kydland |
| gptkbp:emphasizes |
real shocks
technology shocks |
| gptkbp:explains |
economic fluctuations
|
| gptkbp:focusesOn |
business cycle fluctuations
|
| https://www.w3.org/2000/01/rdf-schema#label |
Real Business Cycle model
|
| gptkbp:influenced |
modern macroeconomics
|
| gptkbp:introducedIn |
1980s
|
| gptkbp:publishedBy |
Kydland and Prescott
|
| gptkbp:publishedIn |
Time to Build and Aggregate Fluctuations
|
| gptkbp:relatedTo |
growth theory
neoclassical economics |
| gptkbp:studies |
gptkb:market
employment consumption aggregate output |
| gptkbp:uses |
dynamic stochastic general equilibrium
|
| gptkbp:bfsParent |
gptkb:Kydland-Prescott_model
|
| gptkbp:bfsLayer |
8
|