Real Business Cycles
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Real Business Cycle theory combines the remains of monetarism with the new classical macroeconomics, and has become one of the dominant approaches within contem
Real Business Cycle theory combines the remains of monetarism with the new classical macroeconomics, and has become one of the dominant approaches within contem
This paper investigates the ability of a representative agent model with time separable utility to explain the mean vector and the covariance matrix of the risk