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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.
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 ...
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 ...
Pages for logged out editors learn more. Contributions; Talk; RBC theory
On the theoretical front, complex macroeconomic models, including the real business cycle (RBC) model and dynamic stochastic general equilibrium (DSGE) models have propelled the development and application of numerical solution methods that rely heavily on computation. In the 21st century, the development of computational algorithms created new ...
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.
Blanchard's list of examples includes the IS–LM model, the Mundell–Fleming model, the RBC model, and the New Keynesian model. [ 1 ] In "toy" physical descriptions , an analogous example of an everyday mechanism is often used for illustration.