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Business Cycles

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The New Palgrave Dictionary of Economics

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Abstract

Development of rational expectations models of the business cycle has been the central issue on the macroeconomic research agenda since the influential analyses of Robert Lucas (1972a, b). In this essay, we review these developments, focusing on the extent to which the rational expectations perspective has generated a new understanding of economic fluctuations.

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  1. http://link.springer.com/referencework/10.1007/978-1-349-95121-5

    Michael Dotsey & Robert G. King

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  1. Michael Dotsey
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  2. Robert G. King
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Dotsey, M., King, R.G. (2018). Business Cycles. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_244

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