Question
Briefy describes a core feature of the leading macroeconomic models prior to the advent of Real Business Cycle (RBC) models. Explain how these earlier models
Briefy describes a core feature of the leading macroeconomic models prior
to the advent of Real Business Cycle (RBC) models.
Explain how these earlier models differ from the current leading framework in macro-
economics, namely Dynamic Stochastic General Equilibrium (DSGE) models.
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Macroeconomics
Authors: Stephen d. Williamson
5th Canadian edition
133847144, 9780134604794 , 978-0133847147
