Skip Navigation

This Article
Right arrow Full Text (PDF)
Right arrow Alert me when this article is cited
Right arrow Alert me if a correction is posted
Services
Right arrow Email this article to a friend
Right arrow Similar articles in this journal
Right arrow Similar articles in ISI Web of Science
Right arrow Alert me to new issues of the journal
Right arrow Add to My Personal Archive
Right arrow Download to citation manager
Right arrow Search for citing articles in:
ISI Web of Science (3)
Right arrowRequest Permissions
Google Scholar
Right arrow Articles by Hartley, J.
Right arrow Articles by Salyer, K.
Right arrow Search for Related Content
Social Bookmarking
Add to CiteULike   Add to Connotea   Add to Del.icio.us  
What's this?

Oxf Rev Econ Policy 1997; 13:34-54
© 1997 Oxford University Press and Oxford Review of Economic Policy Ltd

Article

The limits of business cycle research: assessing the real business cycle model

JE Hartley0
KD Hoover1
KD Salyer1
0 Mount Holyoke College
1 University of California, Davis, USA

Abstract

The real business cycle model dominates business cycle research in the new classical tradition. Typically, real business cycle modellers both offer the bold conjecture that business cycles are equilibrium phenomena driven by technology shocks and also novel strategies for assessing the success of the model. This article critically examines the real business model and the assessment strategy, surveys the literature supporting and opposing the model, and evaluates the evidence on the empirical success of the model. It argues that, on the preponderance of the evidence, the real business cycle model is refuted.


Add to CiteULike CiteULike   Add to Connotea Connotea   Add to Del.icio.us Del.icio.us    What's this?




Disclaimer:
Please note that abstracts for content published before 1996 were created through digital scanning and may therefore not exactly replicate the text of the original print issues. All efforts have been made to ensure accuracy, but the Publisher will not be held responsible for any remaining inaccuracies. If you require any further clarification, please contact our Customer Services Department.