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Cited by 395

The DOI matches its Crossref record; 61 of the 61 references it cites were found in a registry or an index.

Resuscitating Real Business Cycles

Open access
King, Robert, Rebelo, Sergio·2000·National Bureau of Economic Research
DOI 10.3386/w7534
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Abstract

The Real Business Cycle (RBC) research program has grown spectacularly over the last decade, as its concepts and methods have diffused into mainstream macroeconomics.Yet, there is increasing skepticism that technology shocks are a major source of business fluctuations.This chapter exposits the basic RBC model and shows that it requires large technology shocks to produce realistic business cycles.While Solow residuals are sufficiently volatile, these imply frequent technological regress.Productivity studies permitting unobserved factor variation find much smaller technology shocks, suggesting the imminent demise of real business cycles.However, we show that greater factor variation also dramatically amplifies shocks: a RBC model with varying capital utilization yields realistic business cycles from small, nonnegative changes in technology.

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Metadata

Authors
King, R., & Rebelo, S.
Venue
National Bureau of Economic Research
Publisher
National Bureau of Economic Research
Published
2000-02
DOI
10.3386/w7534
OpenAlex
W2156155512
Cited by
395
References
61
Type
report
Language
en
Open access
green

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CoChat. (2026). Citation check: Resuscitating Real Business Cycles. https://app.cochat.ai/papers/10.3386/w7534
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King, R., & Rebelo, S. (2000). Resuscitating Real Business Cycles. National Bureau of Economic Research. https://doi.org/10.3386/w7534

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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.