Real Business Cycle Models in Economics (Routledge Studies in the History of Economics)

Book Details

• Author: Warren Young

• Brand: Taylor & Francis Ltd

• Edition: 1

• Binding: Hardcover

• Number of Pages: 200

• Release Date: 16-12-2013

• EAN: 9780415475693

• Package Dimensions: 9.3 x 6.3 x 0.7 inches

• Languages: English

About The Book
The Intellectual Origins of Real Business Cycle Models by Warren Young provides an in-depth examination of the development of Real Business Cycle (RBC) models in modern macroeconomics. This book traces the intellectual journey through the core elements of RBC models: building blocks, catalysts, and meta-syntheses. Through a detailed analysis of unpublished variorum drafts of key papers and interviews with major contributors to the development of these models, such as Kydland, Prescott, Long, Plosser, King, Lucas, and Barro, the author uncovers the origins and evolution of RBC models.

The book dives into the debates surrounding RBC models, exploring their impact on modern macroeconomics and offering a comprehensive understanding of their intellectual foundation. It will be of great interest to scholars of macroeconomics and historians of economic thought, providing valuable insights into the process that led to the establishment of RBC models as a central framework in economic theory.

Salient Features:

• Focuses on the intellectual process behind the development of RBC models

• Examines unpublished drafts and correspondence with key figures in the field

• Provides an essential contribution to the assessment of RBC models' impact on macroeconomics

This volume is indispensable for anyone interested in understanding the development and significance of Real Business Cycle theory.