4 ms·
> For the record, Romer is calling out one theory and one mathematical construct. The theory is RBC, or Real Business Cycle theory, which suggests that fluctuat
by sethammons 3y ago
> For the record, Romer is calling out one theory and one mathematical construct. The theory is RBC, or Real Business Cycle theory, which suggests that fluctuations in growth are caused by external shocks (oil prices, new inventions, etc.) not by anything central banks do
Soooo not the theory of supply and demand.