Robert G. King

TL;DR: The authors construct an endogenous growth model in which financial systems evaluate prospective entrepreneurs, mobilize savings to finance the most promising productivity-enhancing activities, diversify the risks associated with these innovative activities and reveal the expected profits from engaging in innovation rather than the production of existing goods using existing methods.

TL;DR: The authors developed a set of approximate band-pass filters and illustrates their application to measuring the business-cycle component of macroeconomic activity, and compared them with several alternative filters commonly used for extracting business cycle components.

TL;DR: In this paper, the authors present the neoclassical model of capital accumulation augmented by choice of labor supply as the basic framework of modern real business cycle analysis and explore the implications of the basic model for perfect foresight capital accumulation and for economic fluctuations initiated by impulses to technology.

TL;DR: In this paper, the authors studied four classic macroeconomic experiments within a quantitatively restricted neoclassical model and found that permanent changes in government purchases can lead to short-run and long-run output multipliers that exceed one.

TL;DR: The authors used a long-run restriction implied by a large class of real-business-cycle models -identifying permanent productivity shocks as shocks to the common stochastic trend in output, consumption, and investment -to provide new evidence on this question.