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- W2024153914 abstract "Abstract Most RBC models need deterministic technical progress to account for the business cycle stylized facts. Does this mean that we are to dismiss the evidence in favor of a unit root in output when we have a prior in favor of RBC models? To answer this question, we explore the usefulness of introducing an endogenous source of growth in a standard RBC model. Using a formal measure of fit, we show that doing so permits us both to reproduce some key business cycle facts and to obtain a unit root in output." @default.
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- W2024153914 date "2003-05-01" @default.
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- W2024153914 title "Is growth useful in RBC models?" @default.
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- W2024153914 doi "https://doi.org/10.1016/s0264-9993(01)00103-1" @default.
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