EQUILIBRIUM BUSINESS CYCLE THEORY IN HISTORICAL PERSPECTIVE by Kim Kyun, Craufurd D. Goodwin ( 9780521024921 )

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Title:

EQUILIBRIUM BUSINESS CYCLE THEORY IN HISTORICAL PERSPECTIVE

By:

Kim Kyun, Craufurd D. Goodwin

Format:

Paperback

List price:

£30.99

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£27.12

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£3.87

ISBN 10:

0521024927

ISBN 13:

9780521024921

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Publisher:

CAMBRIDGE UNIVERSITY PRESS

Pub. date:

11 February, 2006

Series:

Historical Perspectives on Modern Economics

Pages:

140

Description:

This 1988 book presents a historical investigation of the theoretical development of contemporary Equilibrium Business Cycle Theory (EBCT).

Synopsis:

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.

Publication:

Imprint:

Cambridge University Press

Returns:

Returnable

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