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Real business-cycle theory (RBC theory) is a class of new classical macroeconomics models in which business-cycle fluctuations are accounted for by real, in contrast to nominal, shocks. [1] RBC theory sees business cycle fluctuations as the efficient response to exogenous changes in the real economic environment.
In 1982, Finn E. Kydland and Edward C. Prescott created a real business cycle (RBC) model to "predict the consequence of a particular policy rule upon the operating characteristics of the economy." [3] The stated, exogenous, stochastic components in their model are "shocks to technology" and "imperfect indicators of productivity." The shocks ...
Royal Bank of Canada (RBC; French: Banque Royale du Canada) is a Canadian multinational financial services company and the largest bank in Canada by market ...
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As the model conducts empirical analysis, it cross-validates, estimates, and compares various models concurrently. This process may yield more robust estimates than those of the traditional ones. Traditional economics partially normalize the data based on existing principles, while machine learning presents a more positive/empirical approach to ...
The recognition-by-components theory, or RBC theory, [1] is a process proposed by Irving Biederman in 1987 to explain object recognition. According to RBC theory, we are able to recognize objects by separating them into geons (the object's main component parts). Biederman suggested that geons are based on basic 3-dimensional shapes (cylinders ...
RBC Bank is the trading name of RBC Bank (Georgia), N.A., the United States–based retail banking division of the Royal Bank of Canada (RBC) which is targeted toward Canadian snowbirds, expatriates, and frequent tourists. Despite its limited reach, RBC Bank is a federally chartered bank, thus its trading name bears "N.A." letters.
In 1985, Fukakusa started to work at the Royal Bank of Canada (RBC) in mergers and acquisitions. [4] Over the years, she worked in retail banking, corporate finance, business banking and treasury within RBC. [5] In 2004, she was appointed chief financial officer of the bank, and also became chief administrative officer in 2009. [6]