Future Areas for Research

Sumru Altug

Chapter 8 in Business Cycles:Fact, Fallacy and Fantasy, 2009, pp 137-138 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe literature on business cycles is vast. In this book, I have offered a perspective based on my own perceptions and mindsets. Nevertheless, even the experience of reviewing some of this literature shows that it is lively, at times contentious, but always thought-provoking. There are many other topics of interest that we could have discussed regarding business cycles. For one, I have omitted a discussion of multi-sector models in generating business cycle behavior. For example, it may be that shocks are concentrated in a particular sector and are propagated to the rest of the economy from that sector.1 In such cases, one needs to consider multi-sector models since the one-sector growth model does not allow for a consideration of these issues. However, multi-sector models may also have shortcomings because they typically imply that overall expansions in the economy are associated with contractions in one sector…

Keywords: Business Cycles; Shocks and Propagation Mechanisms; Calibration; Matching Model to Data (search for similar items in EconPapers)
Date: 2009
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