Equilibrium Business Cycle Theory in Historical Perspective

This 1988 book presents a historical investigation of the theoretical development of contemporary Equilibrium Business Cycle Theory (EBCT). The author examines the central features of the EBCT by tracing both the history of business cycle theory and the history of econometrics. These historical analyses make clear two central principles of the EBCT: its optimization foundation and its economic strategy. Following along these lines, the author argues that the EBCT succeeds the tradition of the Austrian cycle theory that attempted to incorporate the cycle with classical equilibrium doctrine. He further argues that the EBCT's econometric strategy is only a child of the Cowles commission method. Investigating interwar macroeconomics in very readable style, this book brings the period back into the heart of macroeconomic thinking.

Inhaltsverzeichnis

Acknowledgments; 1. Introduction: equilibrium business cycle theory; 2. The classical tradition and business cycle theory; 3. The econometric approach to business cycles; 4. Hayek, the Cowles Commission, and equilibrium business cycle theory; 5. Contemporary trends in macroeconometrics; 6. Conclusion; References; Index.

Zusammenfassung

This 1988 book presents a historical investigation of the theoretical development of contemporary Equilibrium Business Cycle Theory (EBCT). The author examines the central features of the EBCT by tracing both the history of business cycle theory and the history of econometrics.

Produktdetails

• Autoren: Kyun Kim, Kim Kyun, Kyun Kim
• Mitarbeit: Craufurd Goodwin (Herausgeber)
• Verlag: Cambridge Academic
• Sprache: Englisch
• Produktform: Fester Einband
• Erschienen: 24.06.1988
• EAN: 9780521350785
• ISBN: 978-0-521-35078-5
• Abmessung: 152 mm x 228 mm x 15 mm
• Gewicht: 342 g
• Serien: Historical Perspectives on Mod; Historical Perspectives on Modern Economics
• Themen: Sozialwissenschaften, Recht,Wirtschaft > Wirtschaft > Allgemeines, Lexika; BUSINESS & ECONOMICS / Economics / Theory, Economic theory & philosophy, Economic theory and philosophy