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Real Business Cycle Theory: Wisdom or Whimsy?

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NBER1990-09-01 更新2025-01-04 收录
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https://www.nber.org/papers/w3432
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This paper assesses the empirical plausibility of the view that aggregate productivity shocks account for most of the variability in post World War II US output. We argue that the type of evidence forwarded by proponents of this proposition is too fragile to be believable. First, our confidence in
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1990-09-01
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