Production, Growth and Business Cycles II: New Directions, Journal of Monetary Economics
This paper outlines new directions for investigations of real business cycle models: consideration of stochastic growth of exogenous and endogenous forms, analysis of suboptimal outcomes arising due to externalities of distorting taxes, and implications of labor market heterogeneity.
Robert G. King, Charles I. Plosser, Sergio Rebelo
King, G. Robert, Charles I. Plosser, and Sergio Rebelo. 1988. Production, Growth and Business Cycles II: New Directions. Journal of Monetary Economics. 21(2-3): 309-341.