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International Real Business Cycles

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Abstract

International business cycle research seeks to summarize the statistical properties of worldwide economic fluctuations and model them as the outcome of purposeful decisions by individuals, firms and policymakers who react to changes in their economic environment and an uncertain future. The focus is on identifying the sources of fluctuations and how interactions of economic actors play out in terms of cyclical movements in variables such as gross domestic product. The term ‘real’ indicates a sub-area of the research programme that focuses on non-monetary dimensions such as changes in productivity and fiscal policy rather than in the money supply and monetary policy.

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Acknowledgments

The author is grateful to Ben Eden for comments and to Hakan Yilmazkuday for excellent research assistance

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  1. http://link.springer.com/referencework/10.1057/978-1-349-95189-5

    Mario J. Crucini

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  1. Mario J. Crucini
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Crucini, M.J. (2018). International Real Business Cycles. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1994

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