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, 2003 This note outlines and discusses some of the strands in the post-Keynesian literature on business cycles. Most post-Keynesians have focused on endogenously generated cycles, but the mechanism varies: some focus on the goods market, others on financial markets, the labor market, or political intervention. The merits of formal modeling of the cycles have
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SSRN Electronic Journal, 2015
We find that, when estimated, a two sector computable dynamic stochastic general equilibrium open economy model of the U.S. that formally admits energy into the production process can generate plausible parameter values that can be applied to deal with a broad range of economic issues. As a benchmark, we require that the model fits the data for output,
Meenagh, David +2 more
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We find that, when estimated, a two sector computable dynamic stochastic general equilibrium open economy model of the U.S. that formally admits energy into the production process can generate plausible parameter values that can be applied to deal with a broad range of economic issues. As a benchmark, we require that the model fits the data for output,
Meenagh, David +2 more
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Carnegie-Rochester Conference Series on Public Policy, 1977
Why is it that, in capitalist economies, aggregate variables undergo repeated fluctuations about trend, all of essentially the same character? Prior to Keynes’ General Theory, the resolution of this question was regarded as one of the main outstanding challenges to economic research, and attempts to meet this challenge were called business cycle theory.
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Why is it that, in capitalist economies, aggregate variables undergo repeated fluctuations about trend, all of essentially the same character? Prior to Keynes’ General Theory, the resolution of this question was regarded as one of the main outstanding challenges to economic research, and attempts to meet this challenge were called business cycle theory.
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Annals of Economics and Finance, 2005 This paper describes the empirical regularities of growth and business cycles that characterize market economies. Relatively little is know at this point about economic fluctuations in planned economies, partly because the system of national income accounting used by these countries produces information that is not easily comparable with data for ...
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Measuring Business Cycles with Business-Cycle Models
1994Gregory, Allan W. +3 more
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