Economics at your fingertips  

BUSINESS CYCLES:Fact, Fallacy and Fantasy

Sumru Altug ()

in World Scientific Books from World Scientific Publishing Co. Pte. Ltd.

Abstract: This book provides an overview of the modern theory and empirics of business cycles. Written by one of the pioneering authors in this field, it examines the notion of a business cycle and discusses alternative approaches to modeling. Arguably, one of the most important debates in this literature has been the issue of ¡°matching¡± a business cycle to the data. In their original contribution, Kydland and Prescott (1982) proposed the method of calibration as a way of examining the implications of a business cycle model; yet, even at its inception, this approach came under criticism from a variety of sources. This monograph will examine some of these criticisms and discuss alternative approaches that have been put forward. More generally, it will discuss what lies ahead for modern business cycle theory.

Keywords: Business Cycles; Shocks and Propagation Mechanisms; Calibration; Matching Model to Data (search for similar items in EconPapers)
JEL-codes: F44 E00 F00 (search for similar items in EconPapers)
Date: 2009
ISBN: 9789812832764
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link) (text/html)
Ebook Access is available upon purchase.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This item can be ordered from

Access Statistics for this book

More books in World Scientific Books from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().

Page updated 2019-02-10
Handle: RePEc:wsi:wsbook:6934