This essay is an introduction to the emergence of the Real Business Cycle Theory, its elementary thoughts and its critiques.

本文介绍了真实经济周期理论的产生、它的基本思想及其评价。

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The real business cycle theory belongs to the liberal school of the western economics, which breaks through the monetary cycle theory.

真实经济周期理论属于西方经济学中的经济自由流派。

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With the real business cycle theory has gradually become the mainstream, I-RBC has become the mainstream of international economic cycle theory.

随着实际经济周期理论逐渐成为目前的主流，I-RBC也成为研究国际经济周期的主流理论。

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Rather than explaining the cycle in terms of market failure, as Keynes did, real business-cycle theory views a recession as the optimal response by households and firms to a shift in productivity.

ECONOMIST: The causes of booms and busts