TY  - JOUR
AU  - Mankiw,N. Gregory
TI  - Real Business Cycles:  A New Keynesian Perspective
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 2882
PY  - 1989
Y2  - October 1989
UR  - http://www.nber.org/papers/w2882
L1  - http://www.nber.org/papers/w2882.pdf
N1  - Author contact info:
N. Gregory Mankiw
Department of Economics
Littauer 223
Harvard University
Cambridge, MA  02138
Tel: 617/495-4301
Fax: 617/495-7730
E-Mail: ngmankiw@fas.harvard.edu
AB  - This paper is a critique of the latest new classical theory of economic fluctuations. According to this theory, the business cycle is the natural and efficient response of the economy to exogenous changes in the available production technology. This paper discusses several versions of this theory and argues that this line of research is unlikely to yield an empirically plausible explanation of observed economic fluctuations.
ER  -