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Business cycle and Real business-cycle theory

Shortcuts: Differences, Similarities, Jaccard Similarity Coefficient, References.

Difference between Business cycle and Real business-cycle theory

Business cycle vs. Real business-cycle theory

The business cycle, also known as the economic cycle or trade cycle, is the downward and upward movement of gross domestic product (GDP) around its long-term growth trend. Real business-cycle theory (RBC theory) is a class of new classical macroeconomics models in which business-cycle fluctuations to a large extent can be accounted for by real (in contrast to nominal) shocks.

Similarities between Business cycle and Real business-cycle theory

Business cycle and Real business-cycle theory have 17 things in common (in Unionpedia): Austrian business cycle theory, Chicago school of economics, Dynamic stochastic general equilibrium, Edward C. Prescott, Finn E. Kydland, Fiscal policy, Great Depression, Keynesian economics, Laissez-faire, Mainstream economics, Monetary policy, Neoclassical economics, New classical macroeconomics, Recession, Saltwater and freshwater economics, Say's law, Welfare cost of business cycles.

Austrian business cycle theory

The Austrian business cycle theory (ABCT) is an economic theory developed by the Austrian School of economics about how business cycles occur.

Austrian business cycle theory and Business cycle · Austrian business cycle theory and Real business-cycle theory · See more »

Chicago school of economics

The Chicago school of economics is a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago, some of whom have constructed and popularized its principles.

Business cycle and Chicago school of economics · Chicago school of economics and Real business-cycle theory · See more »

Dynamic stochastic general equilibrium

Dynamic stochastic general equilibrium modeling (abbreviated as DSGE, or DGE, or sometimes SDGE) is a method in macroeconomics that attempts to explain economic phenomena, such as economic growth and business cycles, and the effects of economic policy, through econometric models based on applied general equilibrium theory and microeconomic principles.

Business cycle and Dynamic stochastic general equilibrium · Dynamic stochastic general equilibrium and Real business-cycle theory · See more »

Edward C. Prescott

Edward Christian Prescott (born December 26, 1940) is an American economist.

Business cycle and Edward C. Prescott · Edward C. Prescott and Real business-cycle theory · See more »

Finn E. Kydland

Finn Erling Kydland (born 1 December 1943) is a Norwegian economist known for his contributions to business cycle theory.

Business cycle and Finn E. Kydland · Finn E. Kydland and Real business-cycle theory · See more »

Fiscal policy

In economics and political science, fiscal policy is the use of government revenue collection (mainly taxes) and expenditure (spending) to influence the economy.

Business cycle and Fiscal policy · Fiscal policy and Real business-cycle theory · See more »

Great Depression

The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States.

Business cycle and Great Depression · Great Depression and Real business-cycle theory · See more »

Keynesian economics

Keynesian economics (sometimes called Keynesianism) are the various macroeconomic theories about how in the short run – and especially during recessions – economic output is strongly influenced by aggregate demand (total demand in the economy).

Business cycle and Keynesian economics · Keynesian economics and Real business-cycle theory · See more »

Laissez-faire

Laissez-faire (from) is an economic system in which transactions between private parties are free from government intervention such as regulation, privileges, tariffs and subsidies.

Business cycle and Laissez-faire · Laissez-faire and Real business-cycle theory · See more »

Mainstream economics

Mainstream economics may be used to describe the body of knowledge, theories, and models of economics, as taught across universities, that are generally accepted by economists as a basis for discussion.

Business cycle and Mainstream economics · Mainstream economics and Real business-cycle theory · See more »

Monetary policy

Monetary policy is the process by which the monetary authority of a country, typically the central bank or currency board, controls either the cost of very short-term borrowing or the monetary base, often targeting an inflation rate or interest rate to ensure price stability and general trust in the currency.

Business cycle and Monetary policy · Monetary policy and Real business-cycle theory · See more »

Neoclassical economics

Neoclassical economics is an approach to economics focusing on the determination of goods, outputs, and income distributions in markets through supply and demand.

Business cycle and Neoclassical economics · Neoclassical economics and Real business-cycle theory · See more »

New classical macroeconomics

New classical macroeconomics, sometimes simply called new classical economics, is a school of thought in macroeconomics that builds its analysis entirely on a neoclassical framework.

Business cycle and New classical macroeconomics · New classical macroeconomics and Real business-cycle theory · See more »

Recession

In economics, a recession is a business cycle contraction which results in a general slowdown in economic activity.

Business cycle and Recession · Real business-cycle theory and Recession · See more »

Saltwater and freshwater economics

In economics, the freshwater school (or sometimes sweetwater school) comprises US-based macroeconomists who, in the early 1970s, challenged the prevailing consensus in macroeconomics research.

Business cycle and Saltwater and freshwater economics · Real business-cycle theory and Saltwater and freshwater economics · See more »

Say's law

In classical economics, Say's law, or the law of markets, states that aggregate production necessarily creates an equal quantity of aggregate demand.

Business cycle and Say's law · Real business-cycle theory and Say's law · See more »

Welfare cost of business cycles

In macroeconomics, the cost of business cycles is the decrease in social welfare, if any, caused by business cycle fluctuations.

Business cycle and Welfare cost of business cycles · Real business-cycle theory and Welfare cost of business cycles · See more »

The list above answers the following questions

Business cycle and Real business-cycle theory Comparison

Business cycle has 154 relations, while Real business-cycle theory has 41. As they have in common 17, the Jaccard index is 8.72% = 17 / (154 + 41).

References

This article shows the relationship between Business cycle and Real business-cycle theory. To access each article from which the information was extracted, please visit:

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