Robert lucas said that business cycles are all alike yet, Ask an Expert

Economics

Robert Lucas said that "...business cycles are all alike', yet from Chapter 3, we see that the times series of deviations from trend in real GDP is "choppy", and there is no regularity in either the amplitude or frequency of fluctuations in real GDP about trend. What did Lucas mean by this statement?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91708628

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