Sources of Business Cycle
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The paper "The Term real Business Cycle" discusses that Long and Plosser came up with the term real business cycle, which is used to explain the cycles generated by random changes in technology.... real business cycles are recurrent fluctuations in an economy's income, products, and factor inputs.... Introduction Two economists, Long and Plosser came up with the term real business cycle which is used to explain the cycles generated by random changes in technology (McGrattan, 2006)....