A Survey on Business Cycles: History, Theory and Empirical Findings

Giuseppe Orlando and Mario Sportelli ()
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Mario Sportelli: University of Bari

A chapter in Consequences of Social Transformation for Economic Theory, 2023, pp 5-34 from Springer

Abstract: Abstract This work summarizes recent advances in modelling and econometrics for alternative directions in macroeconomics and cycle theories. Starting from the definition of a cycle and continuing with a historical overview, some basic nonlinear models of the business cycle are introduced. Furthermore, some dynamic stochastic models of general equilibrium (DSGE) and autoregressive models are considered. Advances are then provided in recent applications to economics such as recurrence quantification analysis and numerical tools borrowed from other scientific fields such as physics and engineering. The aim is to embolden interdisciplinary research in the direction of the study of business cycles and related control techniques to broaden the tools available to policymakers.

Keywords: Business cycles; Nonlinearities in economics; DSGE models; RQA (search for similar items in EconPapers)
JEL-codes: C61 E32 E37 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-27785-6_2

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DOI: 10.1007/978-3-031-27785-6_2

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