Economics > Class Notes > Chapter 8 An Equilibrium Business Cycle Model. (All)
Chapter 8 An Equilibrium Business Cycle Model.
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Cyclical Behavior of Real GDP real GDP = trend real GDP + cyclical real GDP ■ cyclical real GDP = real GDP – trend real GDP ■ the variability of the cyclical part is a good way to gauge the ... extent of economic fluctuations: standard deviation of 1.7% An Equilibrium Business Cycle Model Effect of an Increase in Technology: Labor Market Matching the Theory With Evidence Temporary Changes in Technology Level Variations in Labor Input Variations in Labor Input Effect of an Increase in Technology: Labor Market [Show More]
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