15.1 Some Facts in Business-Cycle .s Characters of Real-business-cycle theory o New developments of new classical economics, inherited most of the micro assumption.(1) use equilibrium method to construct macroeconomic model;(2) adapt the hypothesis of " rational anticipation O Different from traditional classical theory, attach much importance to supply instead of monetary fluctuation. The theory argues that real impacts(for example technology evolution, policy change and natural disaster) are the origin of economic fluctuation 友学经济学院15.1 Some Facts in Business-Cycle ❖ Characters of Real-business-cycle theory：  New developments of new classical economics, inherited most of the micro assumption.（1）use equilibrium method to construct macroeconomic model；（2）adapt the hypothesis of “rational anticipation”.  Different from traditional classical theory, attach much importance to supply instead of monetary fluctuation. The theory argues that real impacts (for example technology evolution, policy change and natural disaster) are the origin of economic fluctuation