According to real business cycle theorists,

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Real business cycle theorists argue that changes in output primarily represent changes in the natural level of output, which is determined by real factors such as technology, productivity, and labor supply. This is in contrast to Keynesian economists who believe changes in output are primarily driven by changes in aggregate demand, which can be influenced by fiscal policy. Real business cycle theorists argue that price and wage rigidity may play a role in short-run fluctuations, but in the long run, changes in output are driven by real factors. Efficiency wage theory, which suggests that higher wages can increase worker productivity, may contribute to wage rigidity, but it is not the primary factor driving changes in output.

According to Real Business Cycle Theorists