About this document
Business Cycle Models in Economics by Luigi Dela Peña is a document available to read on EtoBox.
The document contains lecture notes on business cycle models. It begins by presenting a basic real business cycle (RBC) model with a representative household and firm. The household seeks to maximize utility from consumption and labor subject to a budget constraint. The firm rents capital and labor to produce output. The model is then linearized around the steady state and calibrated. Various shocks are introduced to analyze their impacts using comparative statics. Later sections discuss extensions of the b
- Author
- Luigi Dela Peña
- Language
- EN