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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Equilibrium Business Cycle Theory in Historical Perspective

Equilibrium Business Cycle Theory in Historical Perspective

Kyun, Kim
Kim, Kyun
Goodwin, Craufurd

Paperback

Series: Historical Perspectives on Modern Economics

Economics

ISBN10: 0521024927
ISBN13: 9780521024921
Publisher: Cambridge University Press
Published: Mar 16 2006
Pages: 140
Weight: 0.47
Height: 0.33 Width: 6.00 Depth: 9.00
Language: English
This 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 cental 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. Presenting a fresh viewpoint of interwar macroeconomics in very readable style, this book brings the period back into the heart of macroeconomic thinking today.

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